Webinar- Boost Holiday Season Revenue with a Loyalty Program
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In this webinar, Dibyo Ghosh, Director of Sales at Zinrelo highlights how loyalty programs can boost revenues during the holiday season.
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Webinar- Boost Holiday Season Revenue with a Loyalty Program
- 1. Boost Holiday Season Revenue with a Loyalty Program WEBINAR DibyoGhosh DirectorofSales Zinrelo #zinsights
- 2. On average, retailers generate 40% of revenue from the 40 days of the Holiday Period Interesting Holiday Season Stats *Data from the National Retail Federation and Prosper Insights & Analytics ` Inspite of looming inflation, increase in crude oil prices, and instability in global geographies The holiday season spending is forecast to increase by 3.3%. 6/10 retailers* promote the holiday season before November
- 3. Reduce Deep Discounts; points + promotions instead!!! Holiday promotions are starting early! Here’s how your business can benefit: Benefits Of A Loyalty Program Generate Customer Data - Zero & First Party Data Customer Segmentation – strategies to engage Holiday Buyers year-round Greater Choice & Perks: Daily Holiday Promotions Calendar Personalization to Evoke Strong Positive Emotions Build Strong Customer Relationships & Engagement Boost Customer Retention & Beyond the Holidays! Consistency in Omni Channel Messaging
- 4. 13 Years old | Headquartered – Silicon Valley, CA 2,000+ Global Customers | 100M+ Loyalty Members Ranked #1 Loyalty Software by G2 Top Customer Data Platform Provider 2022 by MarTech Outlook Ranked as the Top Performer by Source Forge Zinrelo is a technology-led platform providing an end-to-end solution for customer loyalty that delivers all three critical components necessary for a successful loyalty program. Zinrelo helps unlock different flavors of loyalty Transactional Loyalty Emotional Loyalty Social Loyalty Behavioral Loyalty Advocacy Loyalty Engagement Loyalty
- 5. STRATEGY CONSULTATION - continuous improvement - • Analysis w/ Actionable Insights • Performance Monitoring & Optimization • Customer Segmentation & Personalization • Best Practices & Proven Strategies Zinrelo’s 3 Key Ingredients for a World-Class Loyalty Program TECHNOLOGY PLATFORM - table stakes! - • Features & Functionality • Omni Channel Customer Experience • Architecture & Integration • Customizability & Scalability • Security DATA ANALYTICS - contextual decision making - ▪ Initial Discovery ▪ Data Driven Program Design ▪ Financial Modeling ▪ Metrics & KPI Benchmarking ▪ Launch Plan
- 6. Leverage a Loyalty Program for MaximumImpact Data Analytics Whatpromotionsto run, forwho, andwhen? HowdoI measureimpact? WhatAboutAFTERtheHolidays? 2x pointsdays “T-ShirtDay” “$100 gets you1000points” Let’sMakeThings Interesting! HolidayShoppers-> LoyalCustomers BargainHunters-> Segmentation & Personalization Createcohortsto maximize value, revenuesandmargins? YES!! Thesamepromotionsforeveryone?NO!! 360-degreeEngagement Notjustemails!Let’s dosocialmedia,sms, pop-ups, dashboards;theworks
- 7. Benefits RealizationwithZinrelo! 80% BetterCustomerRetention Increasein Conversion HigherAverageOrderValue Zero& FirstPartyData CustomerAcquisition Referrals& UGC Upselling& CrossSelling “EarnedMedia” SocialMediaVisibility IncreaseIn RepeatSales 2.4X 50% 14X 60% 20% RevenuePer Member HigherProfitability PerMember
- 8. Success Stories Objective Leverage the holiday season to Improve customer retention 12% Points Redeemed (Avg. redemption rate 5%) Results 32% Increase in Customer Retention Strategy • 125 points were provided as a holiday bonus during the peak holiday season • 2X points campaign for top customers Segment • 1-time purchasers & dormant users • Top customers (3+ purchases in the year)
- 9. Success Stories Objective Increase engagement and boost customer retention 14% Points Redeemed (Avg. redemption rate 5%) Results 98% Increase in Customer Retention Strategy 150 points were provided as a holiday bonus Segment 1-time buyers
- 10. 2.26X 48% Increase In Revenue 57% Increase in Repeat Customers Success Stories Bonus points for customers who made a purchase during their slow seasons e.g., a double points promotion Strategy Increase in Sales Results
- 11. Success Stories Holiday Season Valentine’s Day Mother’s Day
- 12. DifferentCampaigns Segment: Active with no purchases Criteria: Joined in last 12 months but no purchases made Strategy: 150 Points ($15) Segment: Active with purchases & enough points Criteria: Joined in last 12 months & had enough points to redeem Strategy: Send reminders Segment: Dormant with no purchases Criteria: Dormant users Strategy: $10 off Segment: Dormant with purchases Criteria: Dormant users Strategy: Send reminders Segment: Active with purchases & NOT enough points Criteria: Joined in last 12 months, made purchases, not enough points Strategy: 100 Points ($10)