An interview with Adam Pearce, CEO at Blend Commerce
The interview:
1. First of all, tell us a bit about Blend.
We help you retain more customers by continuously improving your customer experience (CX). CX is the cornerstone of both customer acquisition and long-term customer retention. By improving your brand, website and communication touchpoints, we can help you improve your key metrics such as Customer Lifetime Value (CLV), Customer Acquisition Cost (CAC) and Conversion Rate (CR). Our team obsesses over Quantitative and Qualitative data to make informed decisions for your growth.
2. Talk to us about retainers. Some say growth, you say CVO (customer value optimization)- is there a difference between a CVO and a growth retainer?
While a growth strategy tackles short-term obstacles, a CVO strategy prioritizes long-term business health and increasing customer lifetime value through onsite optimization and data-driven decision-making. A CVO approach is focused on creating a positive customer experience that leads to increased customer loyalty and higher customer lifetime value, resulting in sustained business growth over time.
3. Who do you usually deliver CVO retainers for?
Our ideal customer profile includes DTC brands on Shopify and Shopify Plus, with budgets ranging from $5,000 to $18,000 per month. We primarily serve industries like pet care, wellness, health and beauty, FMCG, and food and beverage, targeting companies with annual revenue of $3m to $25m and an employee count of 3-50. Our focus is on resolving pain points such as high customer acquisition costs, low retention, customer churn, and low average order value.
4. What is it that makes Blend different?
Our commitment to delivering exceptional results through collaboration, expertise in CVO, and tailored solutions. With an in-house team of seasoned professionals, who have a deep understanding of the industries we serve, we offer end-to-end services without outsourcing. By keeping everything in-house, we ensure the highest level of service, support, and effective communication. Our approach emphasizes excellence and teamwork.
5. What does a CVO retainer include? Talk us through your framework – firstly, what sort of research do you conduct?
At Blend, we use a range of qualitative and quantitative research methods to drive Customer Lifetime Value. By understanding the needs and desires of the target audience and identifying the jobs to be done by customers, we can design a personalized experience that maximizes the value customers provide to the business.
6. And what kind of support does a client receive?
Once the research phase is complete, we move on to the implementation phase, which involves optimizing the website, product offerings, pricing, and the overall customer journey. We use Conversion Rate Optimisation and A/B testing to improve the customer experience and increase conversions. Design and Email Marketing are also leveraged to deliver targeted messaging that resonates with the customer.
Throughout the process, we analyze key performance indicators and customer behavior to gain insights into the effectiveness of the CVO strategies and make data-driven decisions to optimize our approach. We provide regular reporting to keep clients informed of their progress and ensure that they stay on track to achieve their target customer lifetime value within 12 months.
Our team provides ongoing guidance and recommendations based on the data collected and the insights gained from the research and implementation phases. With our support, clients can achieve their growth goals and deliver exceptional customer experiences that drive long-term loyalty and advocacy.
7. You did a 12-month ‘dark launch’ of your Customer Value Optimisation proposition before taking it public. Why was that?
The dark launch allowed us to test and refine our strategies in a controlled environment, gaining valuable feedback and making necessary adjustments before scaling up. It also helped us identify and address any issues or challenges ahead of the public launch, creating excitement around our new CVO strategy.
8. What are the success criteria for CVO? How do you benchmark customer lifetime value (CLV) and are you working towards specific industry metrics?
The success criteria for CVO can vary depending on the specific goals and objectives of the business. Some common success criteria for CVO include:
increasing customer lifetime value
improving customer retention and loyalty
increasing revenue and profits
reducing customer acquisition costs.
These metrics can be tracked through various KPIs such as CLV, retention rates, customer satisfaction, and revenue growth. Ultimately, the success of CVO will depend on how well it aligns with the overall business goals and objectives.
9. What about your technology partners? Which technologies do you include and what part do they play in your CVO offering?
Technology partners play a critical role in supporting a successful CVO service. They provide businesses with tools and platforms that enable them to engage with their customers in a personalized and data-driven way, which is a key component of a successful CVO strategy.
Key Technology
OctaneAI Conversational quizzes which can be used to collect valuable zero-party data about customers’ needs, preferences, and behavior
Omniconvert Create personalized experiences for your customers based on their behavior and find out who your customers are and where they are in their customer journey
Klaviyo Create targeted email campaigns. Using RFM Segmentation within Klaviyo will allow you to send personalized emails to your customers based on their behavior
Recharge Drive CLV through subscription services. Businesses can offer their customers the convenience of subscribing to their products, ensuring repeat purchases and a stable revenue stream.
LoyaltyLion Incentivise customer behavior and reward loyal customers. Loyalty programs are crucial in the context of a CVO strategy to increase customer retention, encourage repeat purchases, and ultimately increase customer lifetime value.
10. We love to hear it – why is LoyaltyLion specifically a good fit for your retainer model? What problem does it solve and what metrics do you influence by working with us?
LoyaltyLion is a good fit for a CVO strategy because it specializes in increasing customer loyalty and retention. It offers a suite of tools that allow businesses to create and manage their own loyalty program, including points-based rewards, VIP tiers, referral bonuses, and more. By incentivising customers to return and make repeat purchases, we can increase their customer lifetime value and ultimately drive revenue growth.
By tracking these metrics, businesses can assess the success of their loyalty program and adjust their strategy as needed to achieve their CVO goals.
11. And what strategic support do you offer clients as they implement LoyaltyLion so that it’s an effective growth lever?
We provide our clients with a LoyaltyLion strategy roadmap as well as regular reports and updates on the data collected. LoyaltyLion’s key value proposition for a CVO strategy lies in its ability to incentivise customer behavior through a variety of rewards and loyalty programs, which can drive customer engagement, and retention, and ultimately increase customer lifetime value. By using features such as points, rewards, and referral programs, businesses can create a sense of community and loyalty among their customers, leading to higher retention rates and revenue growth.
12. And finally, how does someone get in touch with Blend?
You’ll find us at blendcommerce.com, or drop us a note at hello@blendcommerce.com. Courtyard Office, 55 High Street, Alcester, B49 5AF
Managing your program
