5 Must Haves for Loyalty in eCommerce

5 MUST HAVES FOR

LOYALTY IN

eCOMMERCE

© 2015 - TFC International Ltd

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Customer loyalty is both an attitudinal andbehavioral tendency to favor one brand overall others, whether due to satisfaction withthe product or service, its convenience orperformance, or simply familiarity andcomfort with the brand.

Customer loyalty encourages consumers toshop more consistently, spend a greater shareof wallet, and feel positive about a shoppingexperience… helping attract consumers tofamiliarize themselves with brands in the faceof a competitive environment.


A successful Customer Loyalty Strategy delivers on the following promise:

Higher customer retentionHigher customer engagementIncreased adoptionIncreased customer lifetime value

= Higher overall revenue for Brands

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It’s easy to stand with the crowd, it takes courage to stand alone.Promote yourself as a unique company with a unique service & give customers a reason to choose your Brand

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STAND OUTAcknowledge new buyers with a reward for first time purchase

Rewards must be instantly available or if the customer chooses, accrued toward future purchases

Acquiring a new customer costs 5-10 times more than retaining an existing one.


COSTS LESS

& PROVIDES INSTANT ENGAGEMENT

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Data from Inc., authored by Donna Fenn.

Rewards must be meaningful - if you are selling online, redemption of rewards should be available online

A repeat customer spends 67% morethan a new one.

BUY MORE


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Data from Inc., authored by Donna Fenn.

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BETTER RESPONSE RATES

Messages sent to loyalty program members seehigher conversion rates than those to non-members.


Communicate future rewards expectations - let them know why they should buy from you going forward

Data from The Wise Marketer,

authored by Peter Clark.

“ If you're competitor-focused, you have to wait until there is a competitor doing

something. Being customer-focused allows you to be more pioneering. “

Jeff Bezos (Amazon CEO)


• Reward your loyal customers for loving your product/service!

• Reward your employees, because you couldn’t have done it without them.

• Create incentives

• Create promotions


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But must have high value to consumers to be effective

REWARDS CAN BE LOW COST

• SAAS Based

• Multilingual

• Customizable

• Customer Service Solution

• Access to Data

• Reporting tool

• Communication tool


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IALOYALTY SOLUTION CRITERIA

• No inventory

• Instant delivery

• Global reach

• All price levels

• Low cost / High Value

• Refreshed daily

• Meet local requirements

• Delivery across devices© 2015 - TFC International Ltd

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IAREWARDS CRITERIA


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?DIGITAL REWARDS


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Allow to run promotion

• More often

• Faster

• With measurable results

• 30% cheaper to run

Offering instant gratification to your customer


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ERC

E IN SUMMARYAcknowledge & welcome new buyers with a reward for first time purchase

Rewards must be meaningful - if you are selling online, redemption of rewards should be available online

• Rewards can be low cost, but must have high value to consumers to be effective

• Communicate future rewards expectations - let them know why they should buy from you going forward

• Rewards must be instantly available or should the consumer choose, accrued toward future purchases

the first club™ is the first choice for millions ofinstant digital rewards for individuals and brandsdelivered anytime to any device, worldwide andsetup in minutes

www.thefirstclub.comwww.thefirstclub.net

5 Must Haves for Loyalty in eCommerce

Marketing

Transcript of 5 Must Haves for Loyalty in eCommerce