Effective Use of Prepaid & Digital Discount Gifting in Card Loyalty
Silverpop: Taking Loyalty Beyond the Discount
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Taking Loyalty Beyond The Discount Dave Walters, Product Evangelist @_DaveWalters
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The term "loyalty" means different things to different digital marketers. Many small- to medium-sized businesses have implemented punch card programs to encourage repeat business and reward frequent customers, while failing to capture important customer information in a meaningful and trackable way. Some large companies spend millions of dollars on loyalty programs that drive sales and customer satisfaction, but sometimes also create discount-happy customers. In this Webinar, Silverpop's Dave Walters will offer his advice on shifting the current thinking around these types of programs to focus on what he calls "experience-based loyalty" -- focusing on identifying user actions that indicate a deep affinity for your brand and the kinds of experiences that will amaze your customers, rather than simply handing out discounts and coupons.
Transcript of Silverpop: Taking Loyalty Beyond the Discount
Taking Loyalty Beyond The DiscountDave Walters, Product Evangelist@_DaveWalters
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So Who is This Dude?Twenty-Year Digital
Marketer
Relationship Marketing Practice Lead
Corporate + Agency
COO @ Loyalty Startup
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Who is Silverpop?
Silverpop is the Unified Digital Marketing
Platform
that delivers superior overall
“return on relationship” powered by the deepest
insight into the way customers behave.
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4,000+ Brands and 15,000 MarketersEnergy & Utilities
Media Business Services
Financial Services
Travel & Hospitality
HardwareFood & Beverage
Non-Profit
Retail
Entertainment
Software
Education
Behavioral Marketing
Real-time, cross-channel, insanely relevant campaigns to one person at a time automatically driven by analytics of their actions, preferences
and profiles.
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The Wild West of Loyalty Marketing
$50 for 500
~$100/mo./location
$3-5MM/yr.
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Why Do Loyalty Programs Exist?• They created real choice modifiers and drove strong
add-on revenues in specific industries, like travel and retail– Yep, he just used the past tense :: <CREATED>
• More market competition drove increasing price and share-of-spend pressures– Sure, the rise of analytics weenies drove new dynamics
• Buyers respond positively to more engaging relationships– Newsflash, we’re social beings who like being recognized
• Marketing programs have their own momentum– Once proven, it’s hard to kill a big fish
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When They’re Great
Commoditized Product
High SKU-Level Margins
MDF Funds
Repeatable Purchase Cycle
Recurring Customers
Data-Driven Marketers
Steady-State Marketing Budget
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When They’re Terrible
Complex Product Offering
Price-Satisfied Customers
Few Fraud Controls
Nothing is ‘Learned’
No In-Store Training
Commingled With Other Brands
Just Free Stuff
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“A completely different mindset is required if any semblance of a loyalty program is going to stick to today’s 20-year-old, who is the prime earner
of the next 20 years. Online reputation and real-life experiences will trump a 15% coupon any
day of the week and twice on Sundays.”Me, 2010
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Six New Tactics Beyond Discounts
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Open Your Social Eyes• Better ‘appreciation dynamic’
• It’s real-time, more personal, and is absolutely scalable
• Consider social advocacy on par with item purchases
• Use tools like Twitter Advanced Search or Radian6
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Reward Based on Affinity• Think beyond the item
being bought from you
• What resonates with the PERSON
• Gently test a wide range of hypotheses with partner offers
• And then there’s Prime…
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Go Deep on Mobile• Captain Obvious moment: your
users have smartphones
• Look closely at hard costs, and then spend that money build an app
• Keep the experience immediate, drive-to-web is bad here
• Remember non-digital high spenders
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Factor for Location• Of all the ‘behaviors’,
location is among the strongest predictors
• Keep a permission layer, but use the data to inform your programs
• Don’t miss the opportunity to socially thank visitors
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Score It Like a Lead• As long as we’re beyond the
transaction, go for it!
• B2B-stlye lead scoring applies to events beautifully
• Group your customers by tier and market to them differently
• Experiment aggressively
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An Open Architecture• The biggest challenge today
• Takes affinity-driven rewards to their logical conclusion
• Reduce costs *and* deepen your customer understandings
• Pick only your best friends and partners
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The Thank You Economy
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Questions?
Dave Walters [email protected] Twitter: @_DaveWalters
www.slideshare.net/silverpopTwitter: @SIlverpopwww.silverpop.com
