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3. Is customer loyalty a concept of the past? - Charlie Casey LoyaltyLion - Screen Pages Ecommerce Forum May 2017

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Customer loyalty and engagement

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3. Is customer loyalty a concept of the past? - Charlie Casey LoyaltyLion - Screen Pages Ecommerce Forum May 2017

  1. 1. @LoyaltyLionHQ Is customer loyalty a concept of the past? Charlie Casey, CEO
  2. 2. @LoyaltyLionHQ Charlie Casey • Co-founder / CEO of LoyaltyLion • UK economist 
 • Deloitte Technology Consultant 
 • First business at 9 years old
 • Startup mentor 1,400
  3. 3. @LoyaltyLionHQ Prevent centralisation of ecommerce
  4. 4. @LoyaltyLionHQ Is customer loyalty a concept of the past?
  5. 5. @LoyaltyLionHQ
  6. 6. @LoyaltyLionHQ Loyalty, noun A feeling of devotion. Showing firm or constant support. Loyalty to the crown, partner, family, friends
  7. 7. @LoyaltyLionHQ Engaged. Retained. Advocate.
  8. 8. @LoyaltyLionHQ Great customer experience where they feel valued RETAIL LOYALTY
  9. 9. @LoyaltyLionHQ Increasing loyalty for ecommerce OUR FOCUS
  10. 10. @LoyaltyLionHQ Ecommerce has transformed the way we shop and interact with brands
  11. 11. @LoyaltyLionHQ 67% of shoppers will purchase items from different stores or websites to get the lowest price • Higher quality • Better service • Lower prices • Increased competition • Easy to compare • No lazy loyalty Great for customers Challenges for retailers
  12. 12. @LoyaltyLionHQ Sophisticated loyalty software for mid and enterprise ecommerce stores that increases customer engagement, retention and advocacy.
  13. 13. @LoyaltyLionHQ Loyalty programs are not new… • Memberships are rising • Health and wellness is up 88% (cosmetics and nutrition) of global consumers agree that, all other factors equal, they’ll buy from a retailer with a loyalty program over one without (Nielson) 72% of global consumers agree they’d shop more at online retailers if they provided loyalty benefits similar to those of traditional in-store retailers (Nielson) 66%
  14. 14. @LoyaltyLionHQ • Friction to join • Unattainable rewards • Confusing • Not really a loyalty program Bad reputation of consumers do not sign up for a loyalty program due to the inconvenience and time required to complete registration 70% of consumers say rewards programs require too much spending to reach the next 
 level of status 43%
  15. 15. @LoyaltyLionHQ • Friction to join • Unattainable rewards • Confusing • Not really a loyalty program Bad reputation Uses the same customer account. No extra steps Onboarding manager. Reward within first customer engagement In cart rewards - 4x increase in program engagement Program specifically for that store LoyaltyLion design principles:
  16. 16. @LoyaltyLionHQ • Sell homogenous goods or 
 are a reseller • Have high customer 
 acquisition costs • Cannot afford to differentiate 
 on price • High potential repeat purchase rate • Can build a community around shared interests • Large customer database Need Gain
  17. 17. @LoyaltyLionHQ Measuring customer loyalty • Reduce churn • Increase AOV • Increase engagement • Increase repeat purchases • Acquire new customers
  18. 18. @LoyaltyLionHQ CheapUndies bring high quality underwear to their shoppers for 
 low prices. They are built on Shopify Plus and are market leaders in affordable underwear. LoyaltyLion has worked with CheapUndies 
 for over 18 months. Goal Reduce churn and increase AOV
  19. 19. @LoyaltyLionHQ CheapUndies bring high quality underwear to their shoppers for 
 low prices. They are built on Shopify Plus and are market leaders in affordable underwear. LoyaltyLion has worked with CheapUndies 
 for over 18 months. Results increase in retention of loyal customers 11% additional revenue to the business $825k increase in AOV in loyal customers 80% "LoyaltyLion has been great for CheapUndies - we’ve seen a huge ROI. We wanted a solution that could be customised to match our brand and LoyaltyLion does just that. I really like the fact you can set it up and let it run itself.” - Edward Upton, Owner
  20. 20. @LoyaltyLionHQ CheapUndies bring high quality underwear to their shoppers for 
 low prices. They are built on Shopify Plus and are market leaders in affordable underwear. LoyaltyLion has worked with CheapUndies 
 for over 18 months. Explaining the numbers 11% $825k increase in retention of loyal customers additional revenue to the business = 1m customers 200k loyal 150k retain 166.5k with us 16.5k more customers x $50 purchase $825k year in revenue
  21. 21. @LoyaltyLionHQ The Chivery sell merchandise related to their hugely popular blog, TheCHIVE. Their pop culture driven product range boasts over 1,000 products and 1.2M customers. Goal Increase engagement
  22. 22. @LoyaltyLionHQ The Chivery sell merchandise related to their hugely popular blog, TheCHIVE. Their pop culture driven product range boasts over 1,000 products and 1.2M customers. Results lift in rewarded activities 47% of annual revenue 6% “LoyaltyLion has proven to be the best loyalty vendor we could have chosen. We have over 40 million visitors a month and LoyaltyLion provided the customisation, scale and stability we need.” - Alen Durbuzovic, CTO of Resignation Media & theCHIVE
  23. 23. @LoyaltyLionHQ 100% PURE is a leading organic cosmetics beauty firm based in Silicon Valley. They sell their own brand cosmetics via 13 physical stores and 3 online stores. All the stores use Shopify. Goal Increase repeat purchases / acquire new customers
  24. 24. @LoyaltyLionHQ 100% PURE is a leading organic cosmetics beauty firm based in Silicon Valley. They sell their own brand cosmetics via 13 physical stores and 3 online stores. All the stores use Shopify. Results increase in repeat purchase rates 15-20% from referrals 
 per day $1k annual revenue from loyalty emails 3% clickthrough rate on loyalty emails 35%
  25. 25. @LoyaltyLionHQ Is customer loyalty a concept of the past?
  26. 26. @LoyaltyLionHQ “The only thing that matters in ecommerce is customer loyalty.” James Hart, ASOS ecommerce director for 14 years
  27. 27. @LoyaltyLionHQ Thank you Charlie Casey, CEO

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