Acquiring a new customer costs 5 to 25 times (Harvard Business Review) more than maintaining the current one and this is why more and more B2C companies are deciding to implement Loyalty Programmes. And their implementation seems to be a good approach as according to Accenture research, customers involved in loyalty programs not only stay, but will spend 12 – 18 % more every year. And here you go: SALESmanago is introducing its own Loyalty Program for its B2C companies and Online Stores.
Digital saturation is driving up customer acquisition costs but you can cope with it by implementing Loyalty Management Program for your customers
E-Commerce space is getting more and more crowded with customers being less and less loyal to brands. That’s why new customer acquisition can be 5 to 25 times (Harvard Business Review) more than maintaining the current one. Implementing a Loyalty Management Program can be a way to successfully face this challenge. A couple of studies have shown a very positive effect of introducing loyalty programs at Online Stores.
- Average order volume increases by up to 319% (E-Commerce Incentives Case Study, 2019),
- The frequency of visits by regular customers increases by 35% (Thanx, 2017),
- Customers involved in the Loyalty program will spend 12-18% more on eCommerce every year (Accenture, 2017).
SALESmanago Loyalty Management enables a full range of Customer 360° Profile Data across reward and gamification programs
A couple of highlights explaining what you can do with a brand new Loyalty Management Feature at SALESmanago:
- Engage and increase retention and LTV of your customers with highly customizable loyalty programs seamlessly integrated with all CDP data and executed with automated omnichannel communication.
- Create your own gamification and reward programs to effectively support your customer’s buying cycle.
- Go beyond transactions in creating your Loyalty program and use data about customer behavior like website activities and any behavior tracked by the CDP, such as opened emails, filled forms, read articles, etc.
- Use data from Loyalty program in advanced omnichannel workflows to create a unique Customer Experience and increase customer engagement and revenues of your marketing campaigns.
- Analyze the effectiveness of a Loyalty program by measuring how your customers are progressing across different program tiers and how different customer segments defined in the Loyalty program are contributing to your overall revenue.
Some examples of simple gamification and reward programs using SALESmanago Loyalty Program with transactional and behavioural data
- Reward customers for online engagement – add points for visiting your website, reading a newsletter, or even simply clicking “Like” on product pages! All activities can be defined and translated into additional points, using the unlimited possibilities available in automation processes.
- Engage customers to make purchases regularly – setting points to expire is an effective way to encourage customers to make purchases regularly. If they don’t buy repeatedly they go down to the lower tier and they lose their desirable benefits.
- Extra discounts in return for collected points – let customers collect points based on varied activities and create an advanced program that allows them to exchange points for gifts or discounts. Thanks to this, they will have the possibility to acquire products they really want without cheapening the perceived value of them.
- Celebrate a birthday – surprise your customers and make them birthday wishes in the form of a dedicated birthday card sent as a 1-to-1 email with extra points in the loyalty program as a gift.
- Determine nonstandard conditions to accumulate points for your customers based on unusual purchases – set advanced programs where you will encourage customers to spend more by giving them extra points in exchange for higher value of purchase.