Chapter 1: Understanding Customer Loyalty
Chapter 1 of the Digital Loyalty Academy is all about the why, what, and how of customer loyalty for a digital business.
Although loyalty initiatives (ie. customer loyalty programs) are traditionally seen in gas stations, grocery stores, and other brick & mortar organizations, digital businesses are uniquely positioned to build loyalty programs that drive results. With multiple touch points and real-time data, value can be added to every user interaction, maximizing revenue at every turn.
As you’ll learn, customer loyalty must be a top priority for any digital business that wants to grow amidst rising acquisition costs, fierce competition, and low switching costs.
Don’t just take our word for it – Digital giants like Uber are now realizing the importance of implementing a full-fledged customer loyalty strategy. It’s a competitive advantage, and no longer something you can afford to ignore.
By the end of Chapter 1, you’ll understand:
- Why do digital businesses need customer loyalty to drive growth?
- What impact do loyal customers have on the success of a digital business?
- What does customer loyalty look like in the digital economy?
- What tools and models can a digital business use to build a complete loyalty strategy?
Chapter 2: Customer Lifecycle and Loyalty Strategy
Chapter 1 covered how customer loyalty is important for a digital business due in part to rising acquisition costs, tight competition, and growing customer independence. Loyalty initiatives must be a vital part of every digital organization’s marketing mix to tackle these challenges and drive growth.
In Chapter 2, you’ll be ready to start learning what it means to design a loyalty strategy.
Although loyalty has long been considered exclusively a customer retention tool, it’s best considered as a way to engage customers every step of the way to maximize conversions and boost profit – especially when you’re a digital business that can interact with a customer at any moment of any day, and through multiple channels.
Starting with an in-depth look at what it means to develop marketing strategies with the customer lifecycle in mind, we’ll cover each lifecycle stage in more detail and explore how loyalty rewards can enhance a customer’s lifetime with your brand.
By the end of Chapter 2, you’ll understand:
- What is the customer lifecycle?
- What defines a user at each stage of your brand’s lifecycle?
- What is lifecycle marketing?
- Why is the customer lifecycle important for a successful loyalty strategy?
- How do you use loyalty rewards to incentivize users at every stage of the lifecycle?
Chapter 3: The Anatomy of a Loyalty Program
After Chapter 2, you’ll know where and when loyalty programs are used to across the customer lifecycle.
Chapter 3 gets into the details of exactly what makes a successful loyalty program.
From choosing the best rewards to making sure you have the right technical features in place, knowing the ins and outs of a loyalty program is imperative for reaching your goals.
We combine modern data from reputable reports, proven strategies of world-class companies, and years of experience working with digital businesses to help you design a set of loyalty programs that fuel growth.
By the end of Chapter 3, you’ll understand:
- What makes a loyalty program?
- How do you select the best rewards for your loyalty program?
- What are the psychological principles behind loyalty programs that drive success?
- How do you tell if your loyalty program is working?
- What technical features do you need for a successful loyalty program?