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#MozCon Joanna Lord Let's Play for Keeps: Building Customer Loyalty CMO, BigDoor.

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Presentation on theme: "#MozCon Joanna Lord Let's Play for Keeps: Building Customer Loyalty CMO, BigDoor."— Presentation transcript:

1 #MozCon Joanna Lord Let's Play for Keeps: Building Customer Loyalty CMO, BigDoor

2 #MozCon What is Brand Loyalty? @joannalord

3 #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

4 #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

5 #MozCon but there is a problem. @joannalord

6 #MozCon loyalty is built 1 : 1. @joannalord

7 #MozCon and we don’t live there anymore.

8 #MozCon Fact: Markets are more fragmented than ever.

9 #MozCon CUSTOMER BRAND

10 #MozCon CUSTOMER BRAND

11 #MozCon CUSTOMER BRAND

12 #MozCon But that’s not even the big problem. @joannalord

13 #MozCon Our companies won’t survive without it. #scarytruth #biggestopportunity

14 #MozCon THE EVOLUTION OF A SALE YOU HAD WHAT THEY NEEDED

15 #MozCon THE EVOLUTION OF A SALE YOU HAD WHAT THEY NEEDED YOU HAD A DIFFERENTIATOR

16 #MozCon THE EVOLUTION OF A SALE YOU HAD WHAT THEY NEEDED YOU HAD A DIFFERENTIATOR YOU’VE BUILT LOYALTY

17 #MozCon So what can we do?

18 #MozCon Make it our damn business.

19 #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

20 #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

21 #MozCon TELL YOUR BRAND STORY 1

22 #MozCon showcase your brand’s cause Watch video: http://bit.ly/1618UDg

23 #MozCon spotlight your unique brand personality https://www.facebook.com/wistia

24 #MozCon Connect with Customers in New Ways 2

25 #MozCon Ask questions & get feedback Cupcake Royale: https://www.facebook.com/CupcakeRoyale

26 #MozCon Be transparent with your customers like never before. Behind the Scenes: http://bit.ly/NMCbs5

27 #MozCon Take the online relationship offline.

28 #MozCon Anticipate Needs & Add Value Before They Ask 3

29 #MozCon Explore new product ideas, new content areas, etc. Julep on Pinterest: http://pinterest.com/julepmaven/

30 #MozCon Explore new product ideas, new content areas, etc. Julep on Pinterest: http://pinterest.com/julepmaven/

31 #MozCon Curate what they love. @joannalord Glamour g+ : http://bit.ly/12S9yx0

32 #MozCon Deliver on PROMISES 4

33 #MozCon DO WHAT YOU SAID YOU WERE GOING TO DO Lowe’s Vine Examples: http://read.bi/ZsskIU

34 #MozCon Be there during good and bad. @joannalord Why your brand is worth nothing without delivery : http://onforb.es/V29J98

35 #MozCon BE CONSISTENT 5

36 #MozCon Stay front of mind, frequent touch points. Standard on Tumblr: http://standardhotels.tumblr.com/

37 #MozCon Multi-device, integrated experiences work best. History Channel: https://foursquare.com/historychannel

38 #MozCon MAKE IT PERSONAL 6

39 #MozCon Showcase your customers, support them. DD on FB: http://on.fb.me/114PowR

40 #MozCon Hand over the keys to your prime real estate. http://www.betabrand.com/modelcitizen

41 #MozCon The customer is loyal to a brand or product The brand is loyal to the customer Today is all about: “Reciprocal Loyalty”

42 #MozCon That’s a lot of stuff.

43 #MozCon That’s a lot of stuff. …but you get more than just brand loyalty.

44 #MozCon mirror on company mission

45 #MozCon teams stay invested in the customer & each other @joannalord

46 #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

47 #MozCon Lets wrap this party up

48 #MozCon As a marketer do you have a customer loyalty strategy?

49 #MozCon …because you are going to need one.

50 #MozCon It’s the most significant shift in the ecosystem that we as marketers have ever seen.

51 #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.

52 #MozCon But really…shake it up. Be transparent. Get personal with the people that are keeping you in business. @joannalord

53 #MozCon Isn’t that what we should have been doing all along anyway?

54 #MozCon @joannalord joanna@bigdoor.com


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