As if being nominated for the Best Use of Gamification wasn’t exciting enough, we’re happy to share the news that LoyaltyLion CEO, Charlie Casey has also been included in the Loyalty Magazine Awards 30 under 40 Rising Stars in Loyalty.
We caught up with Charlie to find out a bit more about his perspective on loyalty:
Why do you think loyalty is such a hot topic today?
To say that the ecommerce boom has shaken up the retail space would be an understatement. Merchants are facing higher and higher acquisition costs as competition continues to increase. But it’s also never been a more exciting time to be in retail as platforms like Shopify are giving more and more people the opportunity to build businesses around the things they’re passionate about. Loyalty is such a hot topic because it can be what differentiates a brand in such a noisy space.
You’ve built a whole business around ecommerce loyalty – why is this so important to you?
Over the years, I’ve watched the high street become dominated by a handful of big businesses who deliver impersonal and generic experiences. We’ve built LoyaltyLion to help ensure that ecommerce doesn’t go the same way. Ecommerce is full of choice and diversity which keeps quality high and prices reasonable and with lower barriers to entry, more entrepreneurs can be a part of it. LoyaltyLion exists to help fast growth ecommerce retailers succeed.
What do you think the biggest misconception existing around loyalty is today?
I think people forget that loyalty is about everything after the first click – it has to incorporate the whole experience. For example, Amazon is winning because they handle logistics so well. In a world where you have to compete with goliaths like Amazon, any retailer, no matter their size can win if they put customer experience first. One of the answers might be adding a loyalty program to show customers you value them, but it could be anything related to experience including improving your returns options.
What are the exciting trends you see emerging in loyalty?
The way technology is changing customer loyalty is phenomenal. From the explosion in the use of mobile, to the growing impact of voice commerce, brands will need to continuously innovate to ensure they’re reaching their customers on the right channels at the right time.
But more interesting for me, is the growth in the technology that brands can use to execute their loyalty programs. For example, Shopify’s recent announcements about their connectors for Shopify Flow are a huge step forward. We’ve worked with Shopify to build a connector that will help ecommerce retailers save time by automating loyalty tasks and workflows, and I can’t wait to see the positive impact these tools will have for merchants.
What advice would you have for anyone whose role touches on customer loyalty?
My advice would be to make sure your loyalty program is driven by data. Anyone responsible for loyalty should be constantly asking what the lifetime value of their customers is, what the repeat purchase rate is, whether average order values are increasing – the list goes on. Only when you know the answers to those questions can you really optimise your program to deliver the best ROI.
I’d also encourage people to remember that not every customer is the same. Some of your customers might be at risk and need re-engaging, others might be ready to act as your biggest advocates with a little prompting. Lastly remember that your future success depends on your existing customers.
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