Personalised Co generated 25% of its revenue from its loyal customers
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Find out more about how Personalised Co generated 25% of its revenue from its loyal customers
The global protein supplements industry reached 17.5 billion dollars in 2019, and it is expected to grow by 8% in 2020. However, 77% of online vitamin and supplement sales are still made through Amazon. In order to increase customer retention and keep up with such competition, Personalised Co needed to build stronger and longer-lasting relationships with their customers.
Research has shown that 79% of shoppers are motivated to become loyal customers if they can unlock exclusive benefits. With this in mind, working with Velstar, Personalised Co’s team set about creating a loyalty program that would deliver exclusive rewards and benefits to secure customer loyalty. To best communicate these exclusive benefits, Velstar and Personalised Co worked together to implement a loyalty program named Personalised Points, which allowed customers to move across four levels. With every purchase, customers get closer to unlocking exclusive rewards and monetary discounts.
Personalised Co’s team knew that trust is the key element of a strong relationship, 90% of online shoppers check out reviews before making a purchase, and 92% of consumers trust referrals from people they know. In other words, a greater sense of trust leads to higher customer retention. Therefore, Personalised Co began to motivate members to leave a review and refer a friend by offering them points in return.
By rewarding their customers for their loyalty, and engaging with them through multiple touchpoints, Personalised Co has seen a 34% increase in repeat purchase rate and a 36% increase in member spend thanks to their loyalty program members. Today they generate 25% of their total revenue from their loyal customers.