Loyalty and retention with Jack Johnson

Jack Johnson, partnership manager at LoyaltyLion, talks about all things loyalty and retention on Ecommerce Revolution Podcast‘s latest episode.

Jack Johnson is an expert in loyalty marketing and sales strategy. He has been a brand strategist for several ecommerce start-ups in North America, but it is currently based in London.

During the episode, he focuses on loyalty marketing and the reason why loyalty and retention need to be prioritized by businesses. They are often overlooked, but Jack shares why this is a big mistake.

“Top 20% of customers generate over 53% of total revenue for stores of all sizes.”

Acquisition can be really challenging and at times it can be unreliable. In contrast, retention marketing is relatively affordable. There is so much potential if businesses decide to rely on loyalty.

And why is that? Loyalty programs can help you identify those top 20% of customers and be able to market to them in a unique way. You can leverage this loyalty data and even push that data into email or SMS marketing tools.

“On average is five times less expensive to retain an existing customer than to engage a new customer. “

There are different availabe strategies for merchants. Jack suggests using experiential rewards as a way of motivating customers to spend more money in a year. Ultimately, this method doesn’t cost the brand much money, while the customers are happy!

This is one of the ways that a loyalty program can help businesses create this exclusive feeling to increase the customer lifetime value.

Some of other discussed topics in the podcast include:

• customer journey;
• loyalty lifecycle;
• types of rewards;
• integrations;
• seasonality.

Listen to the full loyalty and retention podcast episode below.