For brick-and-mortar businesses, building true customer loyalty is both an art and a science. At Thanx, we're bringing you the stats, tools, and takeaways to help you capture data that grows business through customer loyalty.
Shoppers love customer loyalty programs, but most ecommerce sites get it wrong. Learn how to launch a profitable rewards program that boosts your bottom line. You'll understand why customer loyalty programs matter, how they contribute to long term profitability and how to launch an effective program
22 really useful customer retention stats from across the web covering customer retention, customer service, customer feedback, customer profitability and more.
Whether for-profit or nonprofit, customer retention strategies are the same. Here are seven strategies to retain your customers that you should consider.
Facebook Messenger and Zalo are the two most commonly used messaging application in Vietnam. How are they used differently, then? Take a look at our full report to compare the best two apps in Vietnam
A simple guide to customer journey mapping. It covers the basic definition of the journey, step-by-step mapping process, common mistakes, and related templates. Bonus: click on the link to get a free demo board with online templates https://realtimeboard.com/app/board/o9J_k0oPqnw=/ Original article: https://realtimeboard.com/blog/customer-journey/ Journey mapping tool: https://realtimeboard.com
Everyone has a creative potential! Yes that's right. We all have the innate capacity for creative activity. ZaVue Solutions deals with providing novel business ideas and an opportunity to do online writing to earn a good amount in your lives. Website: http://zavuesolutions.com/ Like and share our Facebook page to get updates; https://www.facebook.com/zavuesolutions/
Shoppers love customer loyalty programs, but most ecommerce sites get it wrong. Learn how to launch a profitable rewards program that boosts your bottom line. You'll understand why customer loyalty programs matter, how they contribute to long term profitability and how to launch an effective program
22 really useful customer retention stats from across the web covering customer retention, customer service, customer feedback, customer profitability and more.
Whether for-profit or nonprofit, customer retention strategies are the same. Here are seven strategies to retain your customers that you should consider.
Facebook Messenger and Zalo are the two most commonly used messaging application in Vietnam. How are they used differently, then? Take a look at our full report to compare the best two apps in Vietnam
A simple guide to customer journey mapping. It covers the basic definition of the journey, step-by-step mapping process, common mistakes, and related templates. Bonus: click on the link to get a free demo board with online templates https://realtimeboard.com/app/board/o9J_k0oPqnw=/ Original article: https://realtimeboard.com/blog/customer-journey/ Journey mapping tool: https://realtimeboard.com
Everyone has a creative potential! Yes that's right. We all have the innate capacity for creative activity. ZaVue Solutions deals with providing novel business ideas and an opportunity to do online writing to earn a good amount in your lives. Website: http://zavuesolutions.com/ Like and share our Facebook page to get updates; https://www.facebook.com/zavuesolutions/
Our Customer Engagement Plan Playbook is a planning methodology that highlights our premium tool-kit of tools & templates to help improve how customers engage with your company and to enable your organization with a customer-centric approach to drive revenue.
Omnichannel Customer Experience. Companies such as Amazon, Facebook, Google, Apple already know that the future of user experience is automated interface creation depending on customer needs.
The concept of a customer loyalty program is simple – your customers are rewarded for repeating their business, and your revenue as a business increases from their support. Most big brands from Starbucks to Safeway, Walgreens and Best Buy feature customer loyalty programs. But customer loyalty isn’t just for big business – it’s a key strategy for small business owners to scale revenue and build lasting relationships with the people who matter most – loyal fans of your business and product. In this webinar, we’ll go over everything you need to know to build a killer customer loyalty program, including: - How to define customer loyalty and why it's important - How to do customer loyalty right: the dos and don'ts - Using data and mobile to drive loyalty - Importance of branding and fraud prevention - Loyalty apps and tools to use - How customer loyalty can be used in each business industry/vertical
We have always wanted to have an example buyer persona, but our clients would never allow their competitors to have access to such valuable insights. We can’t argue with that. So we developed the following persona without a client in mind. We built it by interviewing marketers about their decision to buy an email marketing solution. Please note that one important aspect of this persona is far more valuable when it is not an example. The Perceived Barriers insight for a real persona reveals the reasons that buyers do not choose the solution you are marketing. This is often one of the most actionable aspects of the buyer persona, identifying opportunities to build sales and marketing strategies that overcome your buyer’s objections. We couldn’t capture those insights without choosing a specific email marketing solution for our example. We hope that this example buyer persona will help you to understand why the 5 Rings of Buying Insight™ are rapidly becoming the standard framework for B2B and B2C buyers of medium-to-high consideration products, services and solutions.
This presentation comprises a total of thirtyseven slides. Each slide focuses on one of the aspects of Shopper Journey Analysis PowerPoint Presentation Slides with content extensively researched by our business research team. Our team of PPT designers used the best of professional PowerPoint templates, images, icons and layouts. Also included are impressive, editable data visualization tools like charts, graphs and tables. When you download this presentation by clicking the Download button, you get the presentation in both standard and widescreen format. All slides are fully customizable. Change the colors, font, size, add and remove things as per your need and present before your audience.
A high-level overview of the marketing strategy steps involved when launching a new class or program to the non-traditional-student in higher education.
You can now download the presentation directly from Slideshare. *Disclaimer this is just my imaginary example of a Comms Plan for the Puma work and not the actual strategy that was created by Droga5 for Puma. I had nothing to do with that plan and am just a fan of their work. What is Comms Planning? is a presentation that provides a clear answer of the role of the Comms Planner within an Advertising Agency. I use the example of the Puma Social campaign to prove the point.
Presentation at CCC (Callidus Customer Conference) in Vegas earlier this year (April 2015). Covers the topics related to Customer Experience at a high level for Executives to get the knowledge they need.
We look at the role of the Brand Leader, how to develop marketing execution strategy, tools to make marketing decisions and how to give direction to an agency.
This online and mobile-first report is researched on 752,057 online community members around Vietnam. The data is also weighted based on the online population in 2017 and was done by Decision Lab, one of my favorite researching company in Vietnam. Quick preview for you: • Approximately 70% still watch traditional television, however, 88% of those are likely to be doing something else at the same time! • They spend approximately 10.6 hours per day engaging with online content, more than any other previous generation. • According to a report by Forbes, the average attention span of this generation is a meager 8 seconds, 4 seconds shorter than Millenials before them. • Gen Zers are the most likely to be consuming online video. Across all generations, online video is extremely popular, with 99% of all those who use the internet reporting watching it. Internet penetration amongst Gen Z was reported at 90%, higher than millenials at 78% and dwarfing 45 and overs at only 28%. Quality resource: https://www.decisionlab.co/blog/yes-the-internet-is-redefining-gen-zs-tv-habits
It's important to understand how our customer fares through the buying funnel, recording his experience will help business eliminate the friction in the buying process, improved CX and increase Customer NPS. Customer journey mapping is a visual tool to make the customer experience seamless and smooth.
Marketplaces are one of the main online shopping destinations for consumers. Now present in all regions of the world, marketplaces have fundamentally changed the commerce landscape, the way we shop, and how businesses go to market with their products and services. And although marketplaces are based on the same concept of first- and third-party selling, they are vastly different from each other. But how do brands accelerate growth? And what are the requirements for success
Our Customer Engagement Plan Playbook is a planning methodology that highlights our premium tool-kit of tools & templates to help improve how customers engage with your company and to enable your organization with a customer-centric approach to drive revenue.
Omnichannel Customer Experience. Companies such as Amazon, Facebook, Google, Apple already know that the future of user experience is automated interface creation depending on customer needs.
The concept of a customer loyalty program is simple – your customers are rewarded for repeating their business, and your revenue as a business increases from their support. Most big brands from Starbucks to Safeway, Walgreens and Best Buy feature customer loyalty programs. But customer loyalty isn’t just for big business – it’s a key strategy for small business owners to scale revenue and build lasting relationships with the people who matter most – loyal fans of your business and product. In this webinar, we’ll go over everything you need to know to build a killer customer loyalty program, including: - How to define customer loyalty and why it's important - How to do customer loyalty right: the dos and don'ts - Using data and mobile to drive loyalty - Importance of branding and fraud prevention - Loyalty apps and tools to use - How customer loyalty can be used in each business industry/vertical
We have always wanted to have an example buyer persona, but our clients would never allow their competitors to have access to such valuable insights. We can’t argue with that. So we developed the following persona without a client in mind. We built it by interviewing marketers about their decision to buy an email marketing solution. Please note that one important aspect of this persona is far more valuable when it is not an example. The Perceived Barriers insight for a real persona reveals the reasons that buyers do not choose the solution you are marketing. This is often one of the most actionable aspects of the buyer persona, identifying opportunities to build sales and marketing strategies that overcome your buyer’s objections. We couldn’t capture those insights without choosing a specific email marketing solution for our example. We hope that this example buyer persona will help you to understand why the 5 Rings of Buying Insight™ are rapidly becoming the standard framework for B2B and B2C buyers of medium-to-high consideration products, services and solutions.
This presentation comprises a total of thirtyseven slides. Each slide focuses on one of the aspects of Shopper Journey Analysis PowerPoint Presentation Slides with content extensively researched by our business research team. Our team of PPT designers used the best of professional PowerPoint templates, images, icons and layouts. Also included are impressive, editable data visualization tools like charts, graphs and tables. When you download this presentation by clicking the Download button, you get the presentation in both standard and widescreen format. All slides are fully customizable. Change the colors, font, size, add and remove things as per your need and present before your audience.
A high-level overview of the marketing strategy steps involved when launching a new class or program to the non-traditional-student in higher education.
You can now download the presentation directly from Slideshare. *Disclaimer this is just my imaginary example of a Comms Plan for the Puma work and not the actual strategy that was created by Droga5 for Puma. I had nothing to do with that plan and am just a fan of their work. What is Comms Planning? is a presentation that provides a clear answer of the role of the Comms Planner within an Advertising Agency. I use the example of the Puma Social campaign to prove the point.
Presentation at CCC (Callidus Customer Conference) in Vegas earlier this year (April 2015). Covers the topics related to Customer Experience at a high level for Executives to get the knowledge they need.
We look at the role of the Brand Leader, how to develop marketing execution strategy, tools to make marketing decisions and how to give direction to an agency.
This online and mobile-first report is researched on 752,057 online community members around Vietnam. The data is also weighted based on the online population in 2017 and was done by Decision Lab, one of my favorite researching company in Vietnam. Quick preview for you: • Approximately 70% still watch traditional television, however, 88% of those are likely to be doing something else at the same time! • They spend approximately 10.6 hours per day engaging with online content, more than any other previous generation. • According to a report by Forbes, the average attention span of this generation is a meager 8 seconds, 4 seconds shorter than Millenials before them. • Gen Zers are the most likely to be consuming online video. Across all generations, online video is extremely popular, with 99% of all those who use the internet reporting watching it. Internet penetration amongst Gen Z was reported at 90%, higher than millenials at 78% and dwarfing 45 and overs at only 28%. Quality resource: https://www.decisionlab.co/blog/yes-the-internet-is-redefining-gen-zs-tv-habits
It's important to understand how our customer fares through the buying funnel, recording his experience will help business eliminate the friction in the buying process, improved CX and increase Customer NPS. Customer journey mapping is a visual tool to make the customer experience seamless and smooth.
Marketplaces are one of the main online shopping destinations for consumers. Now present in all regions of the world, marketplaces have fundamentally changed the commerce landscape, the way we shop, and how businesses go to market with their products and services. And although marketplaces are based on the same concept of first- and third-party selling, they are vastly different from each other. But how do brands accelerate growth? And what are the requirements for success
This is a guide, shared by centricweb.co.uk, to mobile loyalty for small and medium businesses. It makes a case how SMEs can boost their sales and retain customer value using mobile loyalty programmes on their own branded apps.
http://repeatbusiness-guaranteed.co.uk t: 01202 233433 95% of UK consumers appreciate customer loyalty programs. Loyalty programs are a great way of adding value to customer visits and giving them a reason to return in the future. To create loyal customers who always use your business over your competitors you need to acknowledge their loyalty and reward them for their business.
This was an award winning presentation from TEC (The Executive Committee) a global organization of CEOs. Duane presented this seminar to CEOs throughout the country, who gave it rave reviews for simple techniques to grow their businesses. You will learn the principles of customer retention and formula for calculating the lifetime value of a customer.
Loyalty is more than just a program it is becoming a vehicle for brand philosophy. The new breed of successful loyalty programs go beyond perks to build impactful emotional connections with customers. Unparalleled customer loyalty begins and ends with the quality of your relationships with customers.
Traditional marketing knowledge would tell you that the only way to grow your business is by acquiring new customers – and to some extent, that’s true. But if your business already has a customer base, there’s good news: by focusing on better understanding the customers you already have, you can move the needle more predictably — and more impactfully — than by marketing to new customers. Download the White Paper to learn: What types of customer data leading businesses prioritize How to gather high-quality customer data Ways to analyze and use your customer data to drive hard revenue Examples of leading businesses that you can copy today
Consumer expectations have shifted. Digital-first brands are now the leaders in creating valuable experiences. Thoughtful, meaningful engagement is a more effective strategy than persistent, irrelevant campaigns.
Join us for a special masterclass on how to boost customer loyalty in your email campaigns. We'll be joined by email marketing legend Kath Pay, Founder and CEO of Holistic Email Marketing. Kath lives and breathes email marketing and is recognized as an international email marketing thought leader. This is one session not to miss!
Achieving customer loyalty is the best way to keep sales pipelines full. Customer experience management is key to customer loyalty. This whitepaper is about how to achieve customer loyalty in small and medium size busines.
In these competitive world, cost to hold a customer is blooming like a sky-rocketing. Increasing customer satisfaction is the only way to hold a customer. Small and Medium business owners should focus on experiencing customers to increase their satisfaction. Here are the some strong strategies to increase customer satisfaction.
As our physical and online environments continue to come together, consumer behavior keeps changing and retailers need to react. Today’s consumers are extremely connected and live a digital lifestyle. They are educated, expect speed and have become extremely demanding. With an overload of mass marketing, some customers have lost trust in retailers and have become less loyal. In this guide, we will take you through the 10 commandments that every customer-centric retailer needs to follow in order to increase loyalty, new customer acquisition, visit conversion, transaction value and to optimize marketing and customer engagement costs.
Delve into essential ABM ‘plays' that propel success while identifying and leaving behind tactics that no longer yield results. Led by ABM Experts, Jon Barcellos, Head of Solutions at Postal and Tom Keefe, Principal GTM Expert at Demandbase.
Occurrence of technical errors on QuickBooks is common but it can be resolved with the use of QuickBooks Sync Manager Tool . With the help of this too, users can sync the QuickBooks Desktop company file with the Intuit online server. It is compatible with versions QuickBooks Pro, Premier, or Enterprise. In case a user faces sync-related errors then they simply need this repair tool.
Myself Janani Digital marketing consultant located in coimbatore I offer all kinds of digital marketing services for your business requirements such as SEO SMO SMM SMO CAMPAIGNS content writing web design for all your business needs with affordable cost Digital Marketing Services | Techvolt Software : Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc. List of Services offered in Digital Marketing |Techvolt Software : Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing 1. Search Engine Optimization (SEO) 2. Search Engine Marketing (SEM) 3. Social Media Optimization (SMO) 4. Social Media Marketing (SMM) 5. Campaigns Importance | Need of Digital Marketing (Online Promotions) : 1. Quick Promotions through Online 2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform 3. Latest Technology development vs Business promotions 4. Creation of Social Branding 5. Promotion with less investment Benefits Digital Marketing Services at Techvolt software : 1. Services offered with Affordable cost 2. Free Content writing 3. Free Dynamic Website design* 4. Best combo offers on website Hosting,design along with digital marketing services 5. Assured Lead Generation through Search Engine and Social Media 6. Online Maintenance Support Free Website + Digital Marketing Services Techvolt Software offers Free website design for all customer and clients who is availing the digital marketing services for a minimum period of 6 months. With Regards Janani Digital Marketer Coimbatore,Tamilnadu.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives. Key Takeaways: Understand how search engines work Be able to find out where your users search Know what is required for each discipline of SEO Feel confident creating an SEO Plan Confidently measure SEO performance
Fear of abandonment’ means a whole different thing in eCommerce. Because the loss is tangible. And felt right in your pocket. But that also means there are real things you could fix. One of the final stages of shopping abandonment occurs is the checkout page. Which means it impacts your bottom line directly. So here’s a rundown of: → Reasons shoppers abandon the checkout process → How other brands cope with these issues → Actionables to fix your checkout flow Do it right, and you’ll feel the change in your revenue. This is a part of our CRO School series - to help you fix the revenue leaks in your eCommerce store. Sign up for CRO School and get these insights right in your inbox (Visit the link to enroll ->https://www.mailmodo.com/cro-school/?utm_source=cro-school&utm_medium=slideshare ) #ecommerce #cro #cart #abandonement #checkout #email #course #conversion
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\ Key Takeaways: - New framework for examining and safeguarding an online reputation - Tools and techniques to keep you a step ahead - Practical examples that demonstrate when to act, how to act and how to recover
In this talk Felipe Bazon will share how him and his team at Hedgehog Digital share our journey of making C-Levels alike, specially CMOS realize that SEO is the backbone of digital marketing by showing how SEO can contribute to brand awareness, reputation and authority and above all how to use SEO to create more robust global marketing strategies.
Myself Gokila digital marketing consultant located in Coimbatore other various types of digital marketing services such as SEM SEO SMO SMM CAMPAIGNS content writing web design for all your business needs with affordable cost Digital Marketing Services | Techvolt Software : Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc. List of Services offered in Digital Marketing |Techvolt Software : Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing 1. Search Engine Optimization (SEO) 2. Search Engine Marketing (SEM) 3. Social Media Optimization (SMO) 4. Social Media Marketing (SMM) 5. Campaigns Importance | Need of Digital Marketing (Online Promotions) : 1. Quick Promotions through Online 2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform 3. Latest Technology development vs Business promotions 4. Creation of Social Branding 5. Promotion with less investment Benefits Digital Marketing Services at Techvolt software : 1. Services offered with Affordable cost 2. Free Content writing 3. Free Dynamic Website design* 4. Best combo offers on website Hosting,design along with digital marketing services 5. Assured Lead Generation through Search Engine and Social Media 6. Online Maintenance Support Free Website + Digital Marketing Services Techvolt Software offers Free website design for all customer and clients who is availing the digital marketing services for a minimum period of 6 months. With Regards Gokila digital marketer Coimbatore
TL;DR. These are the three themes that stood out to us over the course of last month. 1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly. 2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth. 3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
In today's digital world, customers are just a click away. "Grow Your Business Online: Introduction to Digital Marketing" dives into the exciting world of digital marketing, equipping you with the tools and strategies to reach new audiences, expand your reach, and ultimately grow your business. website = https://digitaldiscovery.institute/ address = C 210 A Industrial Area, Phase 8B, Sahibzada Ajit Singh Nagar, Punjab 140308
Everyone knows the power of stories, but when asked to come up with them, we struggle. Either we second guess ourselves as to the story's relevance, or we just come up blank and can't think of any. Unlocking Everyday Narratives: The Power of Storytelling in Marketing will teach you how to recognize stories in the moment and to recall forgotten moments that your audience needs to hear. Key Takeaways: Understand Why Personal Stories Connect Better How To Remember Forgotten Stories How To Use Customer Experiences As Stories For Your Brand
The Forgotten Secret Weapon of Digital Marketing: Email Digital marketing is a rapidly changing, ever evolving industry--Influencers, Threads, X, AI, etc. But one of the most effective digital marketing tools is also one of the oldest: Email. Find out from two Houston-based digital experts how to maximize your results from email. Key Takeaways: Email has the best ROI of any digital tactic It can be used at any stage of the customer journey It is increasingly important as the cookie-less future gets closer and closer
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success. Key Takeaways: • Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot. • Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers. • Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions. • Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail. Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems. In this webinar, Vladimir will be covering the following topics: Applications of 3D and AR in Digital Commerce, Benefits of 3D and AR, Tools to create, manage and publish 3D and AR in Digital Commerce.
2. Table of Contents Why Customer Retention • Retention vs. acquisition • What is loyalty really worth? Why most “loyalty programs” fail • Customer experience shortcomings • Lack of data Big Data for Brick and Mortar • Personalization • Stop customer churn • Identify VIP customers Feedback rules all • Getting responses that matter • Why Net Promoter Score is the industry standard
3. Your customer loyalty adventure awaits If you’re looking to drive more revenue this year, you’re in luck. We’ve crunched the numbers and there’s a surefire way to do it — and it all starts with the customers you already have. We analyzed over 50 million transactions, and we compiled the most interesting information about customer loyalty and guest behavior. Dollar for dollar, it’s always worth investing in incentivizing loyal behavior — but how do restaurants, retailers, car washes, and other brick-and-mortar businesses go about doing it? Consider this your field guide.
4. For every 10 customers who walk into your business, only 3 of those customers are likely to return. Restaurants, retailers, car washes, and other brick-and-mortar businesses invest money into advertising to new customers, but when those new customers only come in once, it’s hard to justify the cost of acquiring a new customer. That’s why it costs 5-7x more money to acquire a new customer than to drive an additional visit from an existing customer. Dollar for dollar, it’s more lucrative to invest in your existing customer base — especially when, according to research from Harvard Business School, increasing customer retention rates by just 5 percent increases profits by 25 percent to 95 percent. A customer who already knows and loves your brand might be willing to come by again just from a personalized message. This is why targeting people who've already visited your business is easier and more cost effective. Why Customer Retention? Part 1 Bottom line: New customers are expensive.
5. It costs 5x more to attract a new customer than it does to retain an existing customer. TWEET THIS
6. Why does retention have such a dramatic impact? Because, in addition to being a better value, loyal customers behave very differently than first-time customers in three main ways: 1. Higher spend: According to Small Business Trends, customers spend less on their first purchase because they see new brands as "risky." After building a relationship, customer spend grows alongside trust. Eventually, loyal customers spend 67% more than new ones 2. Increased Frequency: Customers involved in a loyalty program increase their visitation frequency to a particular restaurant by an average of 35%. 3. Better word-of-mouth: Retained customers are more powerful sources of referral business. A Bain & Company strategy brief reported that, on average, a first-time apparel shopper refers three people. After 10 purchases, that same shopper refers seven customers. Referred shoppers spend more money and are more loyal themselves. Customers enrolled in a loyalty program visit 35% more frequently Part 1: Why Customer Retention? What is customer loyalty worth?
7. 2017 Goal #1: Start building a customer retention engine to keep your customers coming back.
8. Why “Loyalty Programs” Fail Part 2 Despite knowing how valuable loyal customers are, most loyalty programs don’t actually do much to inspire loyalty. They make customers jump through hoops, they aren’t fun, and they don’t always deliver measurable results for merchants. We once heard of a restaurant who had purchased 10,000 plastic loyalty cards for their POS-based loyalty program… and after they’d handed them out, only 300 were registered, and only 76 of them ever ended up being used.
9. The idea behind loyalty programs remains sound; give customers a reason to come back and recognize loyal customers with a reward. However, there are the main failures with traditional loyalty programs: 1. It demands too much of the customer: Making a customer carry around an additional piece of paper everywhere isn’t just inconvenient — it flat-out doesn’t work. While the typical consumer is a member of more than 27 different loyalty programs, they actively participate in less than half of those. Why? Because nobody is carrying around 27 loyalty punch cards! 2. It requires the customer to take an action every single time they transact: That’s a poor customer experience — when trying to build brand loyalty, you should aim to make the customer experience BETTER to increase repeat visits, not worse. Yet, brands continue to come up with complicated schemes like QR codes, additional hardware at the POS, or even making customers write their phone numbers on the back of their receipts. 3. It fails to differentiate between customers: If I go to my favorite coffee shop every single day, I should be treated differently than someone who comes in twice a month. This is why some of the most successful loyalty programs in the world are status-based, like airline and hotel programs: They recognize that their “big spenders” drive a disproportionately high amount of revenue, and treat them like rockstars. Loyalty Pitfalls to Avoid Part 2: Why “Loyalty Programs” Fail
10. 2017 Goal #2: Get rid of friction when it comes to your loyalty program. Make it effortless for customers to use.
11. Data is power… but most offline businesses are seriously lacking in actionable customer data. When it comes to getting to know your customers better, data unlocks all of the secrets: who your customers are, where they like to go, how much they spend, and what types of marketing will convert. Online retailers have been using big data to help them build brand loyalty through extremely targeted messaging and advertising. It’s time that restaurants, offline retailers, and car washes start using big data to their advantage. Big Data for Brick and Mortar Part 3 “In the online world, businesses have the opportunity to develop very deep relationships with customers [by] observing their purchase behavior over time so that you can get individualized knowledge of the customer… Then the customers are going to feel a deep loyalty to us, because we know them so well.” Jeff Bezos CEO Amazon
12. So, how do offline businesses gather customer data? One great way is through a digital customer rewards program that ties to customer transactions. Without one, your customers are open season for competitors. With a good one, you’ll have your single biggest competitive advantage. Here are some of the most profitable ways to utilize customer data… Use your data intelligently (and profitably) Part 3: Big Data for Brick and Mortar
13. Personalize every interaction In a world where customers receive countless promotions every day—the only way to cut through the noise is personalization. And the only way to improve personalization? Better data. Email blasting your entire mailing list with an offer for 20% off of their next purchase isn’t a smart marketing technique — in fact, broadly discounting product can diminish the perceived value of your product. Send your customers timely, personalized communication when it matters. Send them offers when it counts, not just whenever your company is planning a generic email blast.
14. Stop Customer Churn Customer data can help you prevent once-loyal customers from slipping through the cracks. Identify “at risk” customers by using your data to understand which customers were once loyal, but are now less frequent. You could do this by tracking customer behavior over time, and then setting up systems that alert you to any significant change in behavior. CALCULATE CUSTOMER CHURN AT YOUR BUSINESS → merchant.thanx.com/churn- calculator
15. Launch customer “winback” to convert at- risk customers into regulars In a world where customers receive countless promotions every day—the only way to cut through the noise is personalization. And the only way to improve personalization? Better data. Email blasting your entire mailing list with an offer for 20% off of their next purchase isn’t a smart marketing technique — in fact, broadly discounting product can diminish the perceived value of your product. Send your customers timely, personalized communication when it matters. Send them offers when it counts, not just whenever your company is planning a generic email blast.
16. Identify and retain your VIP customers One of the primary functions of a loyalty program should be to identify and retain your very best customers. ALL businesses have their superstar customers, but few can identify exactly who these big spenders are. With 66% of sales coming from just 25% of customers, take action to identify and segmenting out VIPs — the top 10-25% — and then develop targeted VIP marketing that ensures these loyalists never churn out of your business. LEARN HOW TO LAUNCH PERSONALIZED VIP EXPERIENCES → thanx.com/vip
17. 2017 Goal #3: Start collecting customer transaction data and running automated marketing programs with it.
18. Customer Feedback is a compass for your business Happy customers drive most of your revenue, so it’s important to be able to keep your finger on the pulse of customer sentiment. As your company grows, it becomes harder and harder to gauge the happiness of each and every customer. Aside from polling every single person that comes into your store, how do you get a sense of your performance in the mind of the customer? That’s where it becomes essential to have a feedback program that customers actually engage with (is anybody actually filling out those paper feedback forms?). The simple act of asking for feedback has a pronounced effect on customer frequency. Across 100’s of thousands of feedback responses, customers who completed a non-intrusive mobile survey returned 7% faster than those who didn’t. The customers who received merchant responses to their feedback returned 14% faster. The reason, of course, is that customers love to feel heard. So, ask them! That’s how to build deeper relationships. Part 4
19. How to get customers to respond to your feedback survey Part 4: Customer Feedback is a compass for your business Paper feedback forms don’t garner significant amounts of responses, and it’s impossible to know exactly who you’re speaking to or what feedback merits a response. Collecting responses via mobile survey is a great solution to both of those problems — not only is feedback tied to individual customers (with their entire customer history available for perusal), but also it’s easy for customers to respond. That means that you’re getting to hear from people who wouldn’t typically leave feedback, and you’re actually getting enough valuable feedback to make data-driven decisions with it — from location-level tune-ups to company-wide initiative.s
20. Why all businesses should know their Net Promoter Score® Part 4: Customer Feedback is a compass for your business It’s called “the ultimate question” for a reason: NPS, or Net Promoter Score, is arguably the most accurate way to measure customer happiness. NPS boils customer satisfaction down to one question: From 0–10, how likely are you to recommend this business to a friend ? The reason people call NPS “The Ultimate Question” is that Bain and Company, the innovators behind Net Promoter Score and Net Promoter System found that businesses with a higher score grow 200% faster than their competitors — just by knowing the answer to one question!
21. 2017 Goal #4: Make feedback easy to collect and easy to interpret
22. Bonus: Customer Usership Survey How do customers actually use loyalty programs? Only 7% of people who have loyalty memberships actually participate in all of them. 48% of customers would prefer to receive credits automatically applied to their credit or debit statement The biggest inconvenience of loyalty programs? Remembering to bring your card every time! If there’s one thing customers love, it’s feeling appreciated. 37% of customers think top spenders should earn more rewards.
23. About Thanx Thanx helps offline businesses drive deeper, data-driven relationships with their best customers. Thanx's turnkey solution collects critical customer data and uses it to deliver automated marketing campaigns that deliver real ROI. While the vast majority of loyalty programs today are languishing, Thanx has the highest retention rate in the industry thanks to its frictionless customer and merchant experience. Founded in 2011 and based in San Francisco, Thanx is financed by Sequoia Capital and other elite Silicon Valley investors. Thanx has thousands of customers across more than twenty retail verticals.