Keep Optimising has invited us to discuss how building a great loyalty program can increase the customer lifetime value.
Fiona Stevens, Head of Marketing at LoyaltyLion, joined the marketing podcast to share how beneficial a loyalty program can be.
“A good loyalty program can bring a customer back to you, get them to purchase repeatedly, and also make them spend higher.”
The podcast discussed the following topics:
- the inherited eeputation of loyalty programs;
- experiential rewards;
- when should should start your loyalty program;
- why is integration the key;
- the benefits of a loyalty program.
Listen to the full podact episode here.
Find some more insider tips below:
1. If we’ve inspired someone to take their first step with loyalty – what do they need to know to give themselves the best chance of success?
You have to know what you’re trying to achieve with your loyalty program. Look at what you’re struggling with and design a program that’s going to help you meet the challenges you are currently facing in your business.
2. Once you’ve started of course you’ve got to ‘keep optimising’! So what’s your favourite way to improve loyalty performance?
For any marketing strategy you’re using — including loyalty — always look at the data. With the information you have, you will know what’s giving you the biggest ROI, who your most valuable customers are, and where to focus your marketing efforts.
3. If someone listening wants to learn more about loyalty is there one cheap/free resource you’d recommend?
One is the LoyaltyLion Academy which covers every part of the customer journey and the role of loyalty in those stages. Another is the HubSpot Academy because it touches on so many different parts of marketing.
4. Crystal ball time – what’s coming up in the next 6-12 months that we should be getting ready for in loyalty?
Because consumers now have the opportunity to opt out of various marketing channels, it’s really time to consider loyalty programs. With a loyalty program, you have permission to continue marketing to your customers who are part of it, and continue to tell them your brand story and offer them new products.