How do marketers bring customers back to maximize revenue? Loyalty programs build customer devotion and retention by incentivizing repeat business. Buying becomes a habit.

Today’s guest is Matt Baglia, co-founder and CEO of SlickText, an SMS marketing platform. If a loyalty program makes sense for your business, Matt talks about what it takes to make a loyalty program work as a growth lever.

 

Some of the highlights of the show include:

• Why loyalty programs matter? 20% of company’s customers make 80% revenue
• Brand Champions: Pay attention to their interests, what they’re buying or not
• What is a loyalty program? Distinct difference w/two purposes—register, rewards
• Customer Behavior: Value-add messages give customers a reason to return
• Getting Started with a Loyalty Program:
  • Step 1: Understand clientele
  • Step 2: Incentivize customers
  • Step 3: Talk and listen to customers
  • Step 4: Select a loyalty service
• Growing a Loyalty Program:
  • Interaction: Ask, are you a member of our loyalty program yet?
  • Incentivize: Join loyalty program by providing value
  • Integration: Plugin pop-ups and other online opportunities for information
• Marketing Metrics: Subscription velocity, click-thru links, opt-out rates, check-ins
• Do’s/Don’ts: Get permission to send messages, or face legal ramifications

 

Links:

• Matt Baglia on LinkedIn
• SlickText
• Ben Sailer on LinkedIn
• CoSchedule

 

Quotes:

“Research shows that 20 percent of a company’s customers will typically make up about 80 percent of their revenue.” Ben Sailer

“You have a small cohort of your best customers, and it’s really important that we’re paying attention to what they’re doing, what their interests are, what they’re buying, what they’re not buying, how they’re buying, and make sure that we communicate and market to them appropriately.” Matt Baglia

“When we think, loyalty program, we actually think, ‘Register for our loyalty program and earn points towards rewards’.” Matt Baglia

“The value is very, very simple. For us, it serves two purposes. One, we need to get people to come back, and in order to do that, we need to give them a reason to come back.” Matt Baglia