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#MozCon Joanna Lord Let's Play for Keeps: Building Customer Loyalty CMO, BigDoor
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#MozCon What is Brand Loyalty? @joannalord
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#MozCon What is Brand Loyalty? @joannalord “Loyalty is when brands create an intimate emotional connection that you simply can’t do without. Ever”. - Kevin Roberts, Saatchi & Saatchi
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#MozCon Oh yeah brand loyalty also = more revenue. "80% of your company's future revenue will come from just 20% of your existing customers." - Gartner study, 2012 @joannalord
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#MozCon but there is a problem. @joannalord
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#MozCon loyalty is built 1 : 1. @joannalord
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#MozCon and we don’t live there anymore.
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#MozCon Fact: Markets are more fragmented than ever.
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#MozCon CUSTOMER BRAND
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#MozCon CUSTOMER BRAND
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#MozCon CUSTOMER BRAND
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#MozCon But that’s not even the big problem. @joannalord
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#MozCon Our companies won’t survive without it. #scarytruth #biggestopportunity
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#MozCon THE EVOLUTION OF A SALE YOU HAD WHAT THEY NEEDED
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#MozCon THE EVOLUTION OF A SALE YOU HAD WHAT THEY NEEDED YOU HAD A DIFFERENTIATOR
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#MozCon THE EVOLUTION OF A SALE YOU HAD WHAT THEY NEEDED YOU HAD A DIFFERENTIATOR YOU’VE BUILT LOYALTY
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#MozCon So what can we do?
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#MozCon Make it our damn business.
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#MozCon 6 Steps to Building Loyal ty WHAT TO KNOW Brand Storytelling Connect w/customers Anticipate needs/add value Deliver on promises Be consistent Make it personal 1 2 3 4 5 6
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#MozCon There are 4 Types of Customer Loyalty No LoyaltyCustomers that never/rarely develop loyalty to products or brands Inertia LoyaltyLow level of brand attachment, buys out of habit/convenience Latent LoyaltyHigh brand attachment, but buys less often, more attitude based decisions Premium Loyalty High brand attachment, and high repeat purchase pattern. Pride in purchasing. WHAT TO KNOW
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#MozCon TELL YOUR BRAND STORY 1
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#MozCon showcase your brand’s cause Watch video: http://bit.ly/1618UDg
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#MozCon spotlight your unique brand personality https://www.facebook.com/wistia
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#MozCon Connect with Customers in New Ways 2
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#MozCon Ask questions & get feedback Cupcake Royale: https://www.facebook.com/CupcakeRoyale
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#MozCon Be transparent with your customers like never before. Behind the Scenes: http://bit.ly/NMCbs5
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#MozCon Take the online relationship offline.
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#MozCon Anticipate Needs & Add Value Before They Ask 3
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#MozCon Explore new product ideas, new content areas, etc. Julep on Pinterest: http://pinterest.com/julepmaven/
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#MozCon Explore new product ideas, new content areas, etc. Julep on Pinterest: http://pinterest.com/julepmaven/
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#MozCon Curate what they love. @joannalord Glamour g+ : http://bit.ly/12S9yx0
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#MozCon Deliver on PROMISES 4
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#MozCon DO WHAT YOU SAID YOU WERE GOING TO DO Lowe’s Vine Examples: http://read.bi/ZsskIU
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#MozCon Be there during good and bad. @joannalord Why your brand is worth nothing without delivery : http://onforb.es/V29J98
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#MozCon BE CONSISTENT 5
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#MozCon Stay front of mind, frequent touch points. Standard on Tumblr: http://standardhotels.tumblr.com/
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#MozCon Multi-device, integrated experiences work best. History Channel: https://foursquare.com/historychannel
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#MozCon MAKE IT PERSONAL 6
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#MozCon Showcase your customers, support them. DD on FB: http://on.fb.me/114PowR
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#MozCon Hand over the keys to your prime real estate. http://www.betabrand.com/modelcitizen
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#MozCon The customer is loyal to a brand or product The brand is loyal to the customer Today is all about: “Reciprocal Loyalty”
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#MozCon That’s a lot of stuff.
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#MozCon That’s a lot of stuff. …but you get more than just brand loyalty.
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#MozCon mirror on company mission
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#MozCon teams stay invested in the customer & each other @joannalord
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#MozCon Encourage common KPIs across teams Starter KPIS: Lifetime Value (LTV) % of Customer Retention % of Customer Attrition V vs. IV Churn Ratios Net Promoter Score RFM Cohorts % in Loyalty Program # of Registered Users Latency of Visit Starter KPIS: Lifetime Value (LTV) % of Customer Retention % of Customer Attrition V vs. IV Churn Ratios Net Promoter Score RFM Cohorts % in Loyalty Program # of Registered Users Latency of Visit
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#MozCon Lets wrap this party up
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#MozCon As a marketer do you have a customer loyalty strategy?
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#MozCon …because you are going to need one.
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#MozCon It’s the most significant shift in the ecosystem that we as marketers have ever seen.
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#MozCon "This is the first time in history that word of mouth has become a digitally-archived medium." - Brett Hurt, Founder & CEO, BazaarVoice It’s the most significant shift in the ecosystem that we as marketers have ever seen.
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#MozCon But really…shake it up. Be transparent. Get personal with the people that are keeping you in business. @joannalord
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#MozCon Isn’t that what we should have been doing all along anyway?
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#MozCon @joannalord joanna@bigdoor.com
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