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This blog series gives insight into the day-to-day life of LoyaltyLion’s loyalty experts. We’ll look at members from all teams – diving into their roles and responsibilities – how they started their careers and what advice they have to share.
Almost a year, since December 2021.
Customer acquisition is getting tougher as it’s growing more expensive year on year, so brands are turning to their hugely profitable pool of customers waiting for them – the ones they’ve already sold to before.
The COVID ecommerce bubble has popped and with physical retail back in play, customer attention is now harder to grab. Combine this with the current unfavourable economic climate and that brands are seeing their customers are being more easily swayed by competitor stores, making it harder to both attract and retain customers right now. Businesses need to work harder than ever to differentiate themselves by offering a more memorable experience to customers.
In-cart rewards. It’s really slick and drives reward redemption rates through the roof, which is huge for our customers as redeeming loyalty members spend about 3x more than non-redeeming members!
This is a tough one as there have been quite a few “favourites”!
Ourkindra was a really memorable use case – we wanted to combine subscriptions with loyalty to ensure that customers saw the value in subscribing, and staying subscribed for the long term. What was really interesting here was that customers would typically churn because they ended up receiving more product than they actually needed in their subscriptions. To help solve this we worked together to heavily personalise communications and educate the newest subscribers around what they were receiving. This helped to drive long-term product adoption, and therefore long-term customer retention.
Don’t fret about making it absolutely perfect from the start. You will always have time to iterate and build on your program, and adding new rewards and activities over time will add another touch point that you can use to keep your customer base engaged!
Two things:
1. The team is fantastic, and sales team Tuesdays are a highlight of the week, especially when the dogs are in! The sales culture is highly collaborative rather than every person for themselves, with everyone willing to share what’s working for them and help out where they can.
2. The second thing is that often I’m speaking to the founders of stores where it’s their dream project and livelihood. We’re solving a real, quantifiable problem for them to help them compete with the likes of Amazon and grow their businesses both sustainably and independently, without relying on the effectiveness of a platform like Meta.
Are you interested in joining the LoyaltyLion sales team? Check out our careers page for our current job opportunities. Or if you’re ready to start a conversation with a loyalty expert? Book a demo now.
