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Got a Question?Use the Chat window in GoToMeeting to submit your questions throughout the session; we have left time for Q&A at the end of the webinarIf we don’t get to your question during the session, please send questions directly to email@example.com Join the conversation on Twitter! #BeyondtheTransaction
• The value of loyalty programs, as perceived by consumers, is declining.• Market differentiation of their program is the greatest challenge for loyalty marketers.• Loyalty marketers have pegged mobile and social as key emerging tactical areas for their loyalty programs. Join the conversation on Twitter! #BeyondtheTransaction
“How can you create adifferentiated offeringand positively impactperception of yourloyalty program?” Join the conversation on Twitter! #BeyondtheTransaction
… BE DIFFERENT• Focus on different objectives from competitors’ programs, or• Aspire to accomplish the same objectives using different methods Join the conversation on Twitter! #BeyondtheTransaction
Forrester asked what the top three business objectiveswere for customer loyalty programs. Let’s take the topfive… 1. Customer retention 2. Profitability and revenue 3. Engagement 4. Customer lifetime value 5. Customer acquisition Join the conversation on Twitter! #BeyondtheTransaction
…now flip them around, and focus on the top three: 1. Customer acquisition 2. Customer lifetime value 3. Engagement 4. Profitability and revenue 5. Customer retention Join the conversation on Twitter! #BeyondtheTransaction
Look Beyond the Purchase• Increase your customers’ value by incenting them to do more than just purchase from you. Extend your program to include other valuable behaviors, like social sharing, reviews, comments—and more. Join the conversation on Twitter! #BeyondtheTransaction
Buyer Behaviors along the Loyalty ContinuumAwareness Research Consider Activation Engagement• Marketing & • Advice from • Sign up for a • Make purchase • Loyalty and Advertising Friends, Family trial advocacy • Sign up for• Referral from a • Visit brand • Visit service • Referrals satisfied website competitors’ customer sites • Promotional • Share • Read reviews & offer•Recommendatio consumer • Price/Service • Comment on a ns through a opinions comparison • Become a social network trusted network member • Join a fan page • Repeat Purchase Join the conversation on Twitter! #BeyondtheTransaction
Advocacy, Referrals and Recommendations• Increase customer acquisition with a customer advocacy or referral program delivered via social media• Trust is the new currency: Get people talking about you—if it’s something they’re excited about, moved by, passionate about make it easy for them to share that with friends and family Join the conversation on Twitter! #BeyondtheTransaction
Top 100 eTailer: Customer Acquisition Increased by 98%• Launched a social referral program to reward existing customers for recommending the company to friends and family• Customers share coupon offers over social channels – it’s easy• In the quarter after launch, the program was responsible for … Join the conversation on Twitter! #BeyondtheTransaction
Take it on the Road.• Leverage mobile devices to facilitate customer product recommendations, 80% of which happen offline.• By taking advantage of mobile, you can allow your customers to refer your brand whenever, wherever they are “in the moment.” Join the conversation on Twitter! #BeyondtheTransaction
Top Telecom: Lowering Attrition Rates through Social &Mobile Referrals • Acquire new customers through customer and employee referrals • Mobile and web-based social sharing program • SMS, email, in-store and in-pack awareness • Building relationships with prepaid customers • Lower attrition rate over other acquisition methods Join the conversation on Twitter! #BeyondtheTransaction
CPG of Food Products: Gathered Invaluable CI• Aspects of their program include: incents and rewards purchases, sharing with friends, referrals, participating in polls, surveys, contests.• Catalog offers items that customers LOVE (and keep coming back for).• Utilizes badges and leveling as a way to keep customers engaged long-term.• Leverages surveys and polls to improve CI.“This program is a great example of how a brand took thebasics of traditional loyalty and married in some newelements – such as sharing, referring and badging – tocreate a highly engaging program that is exceeding bothits member and its business owner’s needs.” Join the conversation on Twitter! #BeyondtheTransactio Join the conversation on Twitter! #BeyondtheTransaction
Socialize Your Program to Drive AwarenessKula Causes makes the act of donating talkable. Join the conversation on Twitter! #BeyondtheTransaction
Get your members talking to increase awareness andengagement. Join the conversation on Twitter! #BeyondtheTransaction
What are your next steps?• Don’t stop what you’re doing, massive change scares away customers.• Accentuate your program with fresh ideas. Utilize initiatives like a social referral program, social sharing and comments to name a few.• Use polls and surveys to increase customer intelligence on your website and social properties.• Experiment. Take a step-wise approach. Change doesn’t have to be massive to move the needle.
About RewardStreamSince 1999, RewardStream has been a leadingprovider of viral marketing, social referral, socialloyalty, traditional loyalty and engagement solutionsfor some of the world’s most esteemed brands.Spark™ is a viral marketing & social referral solutionpowered by the trusted recommendations of happy,satisfied customers.• Makes it fast and easy to recommend a brand through referrals and generates interaction with customers• Delivers insight into the recommendation lifecycle. Track impressions, referrals, shares, referrals by channel, conversions and more
Thank You for Joining Us TodayRichard Robins, Emily Murphy,VP Client Success AnalystRewardStream Forrester ResearchDirect: 604.282.7554 Direct:firstname.lastname@example.org email@example.com www.forrester.comSocialize with us! facebook.com/RewardStream @RewardStream