- “When you're building your loyalty program, make sure and focus your efforts on understanding what drives loyalty for your customers.” @jadesai94 #DTCPOD
- “When you're thinking about your rewards and loyalty program, tie it back to business objectives.” @jadesai94 #DTCPOD
- “Points might be more effective for targeting spending habits and engagement, while discounts might be a good way to get people to purchase a new product.” @jadesai94 #DTCPOD
- “You need to educate customers on your brand story or leverage inner purchase engagement to drive repeat purchases” @jadesai94 #DTCPOD
- “The emotional approach is going to get people to buy regardless of whatever the price, convenience or product is.” @jadesai #DTCPOD
We Speak About:
- [00:50] How loyalty programs help to compete in big markets
- [01:55] The importance of tailoring loyalty programs to the customer
- [03:42] Factors to consider when building a loyalty program
- [05:31] The three different types of loyalty programs
- [06:39] The transactional approach and the brands that benefit
- [07:35] The benefits of a functional approach and what brands it is tailored towards
- [08:58] The perks of an emotional approach and what goals it accomplishes
Loyalty programs provide a competitive edge that cater to specific brand goals
Today, there are hundreds of DTC brands competing in product types. Not to mention most brands have to also compete with retailers and Amazon.
So how do you foster brand recognition and preference?
One way to successfully attract and retain customers is through loyalty programs. There are three major types of loyalty programs, all catered towards different business objectives.
Getting customers to repurchase and prefer your brand is extremely important for a brand.
Loyalty programs foster these activities and provide brand growth.
Stay tuned as we discuss how to build a loyalty program, the types of approaches, and which approach is right for you.
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More on loyalty programs: https://www.yotpo.com/direct-to-consumer-loyalty-playbook/