#mozcon joanna lord let's play for keeps: building customer loyalty cmo, bigdoor
TRANSCRIPT
#MozCon
Joanna Lord
Let's Play for Keeps: Building Customer Loyalty
CMO, BigDoor
#MozCon
What is Brand Loyalty?
@joannalord
#MozCon
What is Brand Loyalty?
@joannalord
“Loyalty is when brands create an intimate emotional connection that you simply can’t do without. Ever”.
- Kevin Roberts, Saatchi & Saatchi
#MozCon
Oh yeah brand loyalty also =
more revenue.
"80% of your company's future revenue will come from just 20% of your existing
customers."
- Gartner study, 2012@joannalord
#MozCon
but there is a problem.
@joannalord
#MozCon
loyalty is built 1 : 1.
@joannalord
#MozCon
and we don’t live there anymore.
#MozCon
Fact:
Markets are more fragmented
than ever.
#MozCon
CUSTOMERBRAND
#MozCon
CUSTOMERBRAND
#MozCon
CUSTOMERBRAND
#MozCon
But that’s not even the big problem.
@joannalord
#MozCon
Our companies won’t survive without it.
#scarytruth #biggestopportunity
#MozCon
THE EVOLUTION OF A SALE
YOU HAD WHAT THEY NEEDED
#MozCon
THE EVOLUTION OF A SALE
YOU HAD WHAT THEY NEEDED
YOU HAD A DIFFERENTIATOR
#MozCon
THE EVOLUTION OF A SALE
YOU HAD WHAT THEY NEEDED
YOU HAD A DIFFERENTIATOR
YOU’VE BUILT LOYALTY
#MozCon
So what can we do?
#MozCon
Make it our damn business.
#MozCon
6 Steps to Building LoyaltyWHAT TO
KNOW
Brand Storytelling
Connect w/customers
Anticipate needs/add
value Deliver on promises
Be consistent
Make it personal
12
34
56
#MozCon
There are 4 Types of Customer Loyalty
No Loyalty Customers that never/rarely develop loyalty to products or brands
Inertia Loyalty Low level of brand attachment, buys out of habit/convenience
Latent Loyalty High brand attachment, but buys less often, more attitude based decisions
Premium Loyalty
High brand attachment, and high repeat purchase pattern. Pride in purchasing.
WHAT TO KNOW
#MozCon
TELL YOUR BRAND STORY
1
#MozCon
showcase your brand’s cause
Watch video: http://bit.ly/1618UDg
#MozCon
spotlight your unique brand personality
https://www.facebook.com/wistia
#MozCon
Connect with Customers in New Ways
2
#MozCon
Ask questions & get feedback
Cupcake Royale: https://www.facebook.com/CupcakeRoyale
#MozCon
Be transparent with your customers like never before.
Behind the Scenes: http://bit.ly/NMCbs5
#MozCon
Take the online relationship offline.
#MozCon
Anticipate Needs & Add Value Before They Ask
3
#MozCon
Explore new product ideas, new content areas, etc.
Julep on Pinterest: http://pinterest.com/julepmaven/
#MozCon
Explore new product ideas, new content areas, etc.
Julep on Pinterest: http://pinterest.com/julepmaven/
#MozCon
Curate what they love.
@joannalordGlamour g+ : http://bit.ly/12S9yx0
#MozCon
Deliver on PROMISES
4
#MozCon
DO WHAT YOU SAID YOU WERE GOING TO DO
Lowe’s Vine Examples: http://read.bi/ZsskIU
#MozCon
Be there during good and bad.
@joannalord Why your brand is worth nothing without delivery : http://onforb.es/V29J98
#MozCon
BE CONSISTENT
5
#MozCon
Stay front of mind, frequent touch points.
Standard on Tumblr: http://standardhotels.tumblr.com/
#MozCon
Multi-device, integrated experiences work best.
History Channel: https://foursquare.com/historychannel
#MozCon
MAKE IT PERSONAL
6
#MozCon
Showcase your customers, support them.
DD on FB: http://on.fb.me/114PowR
#MozCon
Hand over the keys to your prime real estate.
http://www.betabrand.com/modelcitizen
#MozCon
The customer is loyal to a brand
or product
The brand is loyal to the customer
Today is all about:
“Reciprocal Loyalty”
#MozCon
That’s a lot of stuff.
#MozCon
That’s a lot of stuff.
…but you get more than just brand loyalty.
#MozCon
mirror on company mission
#MozCon
teams stay invested in the customer &
each other
@joannalord
#MozCon
Encourage common KPIs across teams
Starter KPIS:
• Lifetime Value (LTV)• % of Customer Retention• % of Customer Attrition• V vs. IV Churn Ratios• Net Promoter Score• RFM Cohorts• % in Loyalty Program• # of Registered Users• Latency of Visit
#MozCon
Lets wrap this party up
#MozCon
As a marketer do you have a
customer loyalty strategy?
#MozCon
…because you are going to
need one.
#MozCon
It’s the most significant shift in the ecosystem that we as marketers have ever seen.
#MozCon
"This is the first time in history that word of mouth has become a digitally-archived medium." - Brett Hurt, Founder & CEO, BazaarVoice
It’s the most significant shift in the ecosystem that we as marketers have ever seen.
#MozCon
But really…shake it up.Be transparent. Get personal with the people that
are keeping you in business.
@joannalord
#MozCon
Isn’t that what we should have been
doing all along anyway?
