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:
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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