Hey, Tell A Friend: Loyalty & Referrals Make The Perfect Pair

hey,-tell-a-friend:-loyalty-&-referrals-make-the-perfect-pair

Referrals can turn shoppers into an effective acquisition pipeline, but when paired with Loyalty, you can turn shoppers into organic brand ambassadors and life-long brand lovers. Effective loyalty programs give consumers a reason to return — VIP experiences, perks, discounts — and have become an increasingly popular strategy as brands double down on retention efforts.

While loyalty does have more of a lift than a referrals program alone, the benefits of launching the solutions in tandem make it all worthwhile.
Loyalty & referrals make consumers loyal advocates, not just one-time buyers
Unlike a standalone referrals tool, loyalty and referrals programs help accomplish your distinct business objectives. With these two solutions, businesses can increase customer lifetime value, average order value, repeat purchase rate, and reduce churn, while also creating a community around their brand.

Here’s why the two solutions make the perfect pair.
Achieve a greater overall ROI …

This story continues at Yotpo

Special thanks to our friends at Yotpo for their insights on this topic.
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Steve has entrepreneurship in his DNA. Starting in the early 2000s, Steve achieved eBay Power Seller status which propelled him to become a founding partner of VisionPros.com, a contact lens and eyewear retailer. Four years later through a successful exit from that startup, he embarked on his next journey into digital strategy for direct-to-consumer brands.

Currently, Steve is a Senior Merchant Success Manager at Shopify, where he helps brands to identify, navigate and accelerate growth online and in-store.

To maintain his competitive edge, Steve also hosts the top-rated twice-weekly podcast eCommerce Fastlane. He interviews Shopify Partners and subject matter experts who share the latest marketing strategy, tactics, platforms, and must-have apps, that assist Shopify-powered brands to improve efficiencies, profitably grow revenue and to build lifetime customer loyalty.

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