Uploaded byBill Bing
Earning Customer Loyalty
Bill Bing, founder of Loyalese, presents insights on social consumer loyalty and the importance of genuine customer engagement at the Internet Summit. Highlighting case studies from companies like Southwest and Lexus, he emphasizes that loyal customers provide more value and referrals. The key takeaway is to use social tools and creative rewards to foster loyalty and enhance customer experiences.
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Earning Customer Loyalty
- 1. Social Consumer Loyalty& Rewards Internet Summit 11/18/2010 Bill Bing Founder & CEO, Loyalese
- 2. Background Bill Bing Co-founded Loyalese,a social loyalty platform in early 2010 10 years experience at startups and in venture capital Square 1 Financial; worked with and invested in startups nationwide Upromise; online coalition loyalty program with 12 million members 2
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- 4. “Valued Customer, Thank youfor your recent purchase…” 4 Not “Thank You”
- 5. “5% off yournext purchase of more than $100* if you buy within the next 24 hours…” 5 Also Not “Thank You” *offer applies to select items and is subject to change
- 6. “Please complete thissurvey to provide us with feedback so we can better serve you…” 6 Definitely Not “Thank You”
- 7. “Customers are issuinga very clear warning to marketers. Give me relevant communications that reflect my history and connections to you, or we will go elsewhere with our business.” Sandra Zoratti, VP of Global Solutions Marketing for InfoPrint Solutions Company 7
- 8. Be Genuine Do somethingwith no strings attached Pretend you’re giving a gift to a friend Avoid gimmicks that require further action Even better, do something creative, personal and relevant Give gifts that reflect customer interests Express your brand message through rewards 8
- 9. Develop a Reputationfor Being Awesome 9
- 10. Loyal Customers areEssential Buy more products and services Provide insight and feedback Cost less to support Give you the chance to fix mistakes Refer new customers and recommend products to friends 10
- 11. Case Studies inAwesome Southwest – a new type of airline Lexus – outstanding customer service Bank of America – Museums on Us Starbucks – using geo-location and other social tools 11
- 12. Southwest Makes FlyingFun Customer-focused approach No charge for checking bags First-come, first-served seating Events for customers at airports Corporate social responsibility Active blog and social media presence 12
- 13. The Lexus ServiceExperience Complimentary car washes Great snacks and personal office space Program personal electronic settings Lexus loaners for use during service No up-selling or unnecessary work Keeps customers coming back 13
- 14. Bank of America:Museums on Us Free admission to 100+ US museums No strings attached Creative, valuable offer Reinforces brand connection by association through a shared interest Creates positive word-of-mouth 14
- 15. Check-in at Starbucks Integrationwith mobile apps Give customers a reason to take action Simple rewards and discounts Enhanced brand visibility through user generated content Differentiate from competitors 15
- 16. Value Beats Price Loyalconsumers want value and quality rather than price and transactions Consistency and service are key Companies that care about customers have customers that care about them Great experiences get people talking/blogging/posting 16
- 17. Super Connectivity 17 Great customerexperience 10 years ago Repeat business Tell a handful of friends …and that’s pretty much it Great customer experience today Repeat business Tell hundreds of FB friends and Twitter followers …and do all this in real time
- 18. Impact of SocialMedia Social drives more traffic than Google Search directs interest; social creates it Referrals outperform ads or search Proven benefit for consumer businesses Gaming (Zynga), Dating (Zoosk) Word-of-mouth brings new customers Source: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/02/14/BUU51C0AMN.DTL 18
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- 21. Conversion (Point of Sale) Customer Service& Retention Customer Acquisition E-commerce Cycle 21 Loyalty happens here
- 22. When Was theLast Time… This: Or this: Led to this: Or this: http://www.joemonahansnewmexico.blogspot.com/2009_01_01_joemonahansnewmexico_archive.html http://crfidm.com/new_page_1.htm http://www.marketing24h7.com/world-mouth-advantage-disadvantage/ http://s.fatwallet.com/static/attachments/24703_staples10_offoneitem12_20_09to12_26_09.jpg Sources: 22
- 23. Takeaways Become awesome Get loyalcustomers Use social tools and creative rewards to help them tell their friends Get more loyal customers 23
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