Event Details
Date & Time : 03 Aug, 2021, 07:30 AM
Join On : Google Meet
In these unprecedented times, it’s imperative for brands to elevate their game and build customer retention through a highly engaging omni-channel loyalty program.
According to Econsultancy reports, 82% of business leaders agree that customer retention is way cheaper compared to customer acquisition. To foster customer loyalty, brands must engage their customers repeatedly on multiple dimensions to instil repeat purchases and brand advocacy.
In this webinar, Stacy Feldman, E-Commerce & Digital Marketing Director at Jambu & Co., shared insights on how they implemented Zinrelo’s loyalty rewards program to build customer engagement, maximize revenue and improve profitability. This blog post includes the recording and presentation for the webinar and highlights the strategies that helped Jambu & Co. reap 32% higher customer retention through a loyalty program!
Watch the webinar recording here:
See the webinar presentation:
Key highlights from the webinar:
Jambu & Co. experience – How it all began
Jambu & Co. invested in a loyalty program and engaged their customers through an effective omni-channel rewards program. They rewarded their customers not only for purchases but for referring friends and family, creating an account, social advocacy etc. Further, they gamified their loyalty program to offer their customers exciting rewards like free shipping and discounts off their subsequent purchase.
Jambu & Co. objectives from the loyalty program:
Increase revenue: One of the main objectives of Jambu & Co. was to improve the revenues and profitability by embedding a result-driven loyalty rewards program. According to Gartner, 80% of a company’s revenue is generated from 20% of the repeat customers, and a loyalty program is a great tool to strengthen customer engagement and improve retention and is a key driver to generate revenue.
Better features and customer support: Jambu & Co. had an existing loyalty program in place, but they weren’t happy with the outcome. The previous program did not offer a seamless customer experience and had limited features & capabilities. Moreover, Jambu did not receive adequate support from their erstwhile vendor. This not only led to customer complaints but hampered the overall ROI and results from the loyalty program. It was precisely during this time, Jambu & Co. shifted to Zinrelo.
- Jambu & Co. experienced better service as soon as they embedded Zinrelo’s loyalty program.
- The seamless customer experience led to an immediate reduction in customer complaints.
- Zinrelo offered insightful reporting.
- Jambu was able to create personalized and pre-configured loyalty campaigns for different customer segments.
Customer retention: According to Forbes, a brands chance of selling to a new customer are just between 5% and 20%, whereas that chance rises to 60% or 70% for existing customers. Jambu & Co.’s objective was to engage their new and existing customers more effectively to improve their overall customer retention.
Key features of Jambu rewards program
360-degree Engagement:
Jambu & Co’s rewards program is a combination of different types of loyalty. Not only did they engage their customers through transactional loyalty but also incorporated social, engagement and advocacy loyalty into their program. They engaged their customers by awarding them points for liking, following Jambu & Co.’s social media pages, referring friends and family, creating account etc. Jambu rewards program engaged customers on multiple levels and provided users a seamless experience.
Loyalty program user experience:
The below aspects led to an immersive and rewarding experience for Jambu & Co.’s customers.
- Jambu & Co. included the points earning potential in every product page. This not only introduced customers to the loyalty rewards program but also improved customer conversion.
- A dedicated loyalty landing page on the website
- The white-labeled end user dashboard embedded in the ‘My Account’ section for each of the customers
- Customized & personalized loyalty emails
- A seamless points redemption experience at the time of checkout led to an immersive and rewarding experience for the customers.
Machine Learning based Targeting and Segmentation:
Zinrelo’s data sciences team used machine learning algorithms to segment loyalty members into actionable clusters. Different loyalty campaigns were then designed to maximize revenues from these customer segments.
Jambu & Co.’s Journey
Jambu & Co. shifted to Zinrelo’s loyalty rewards platform and awarded their customers points for various activities, leading to remarkable results and uplift in customer retention. Stacy from Jambu & Co. highlighted the three key benefits their brand observed when they shifted to Zinrelo:
- Specialized campaigns to incentivize customers
Jambu & Co. set tailored loyalty campaigns that were exclusive to different customer segments. Not only did this enable a feeling of exclusivity, but also aided in an increased affinity towards the brand. For example, in June (it is the last month of the spring-summer season), Jambu & Co., awarded 200 bonus points (equivalent to $15) to all the loyal customers; and these points were redeemable in the month of June only. This campaign, designed to improve sales in the end of season, led to a 3X increase in sales compared to any other month. - The shift from transactional loyalty to emotional loyalty
The shift from transactional to emotional & engagement loyalty yielded amazing results for Jambu & Co. By acknowledging birthdays, social advocacy, referrals etc. Jambu & Co. not only engaged the members but also created an emotional bond with the customers that went beyond points and purchases. - Dedicated, consultative support received from Zinrelo
The migration to Zinrelo’s loyalty program was a seamless experience, aided by the continuous support from Zinrelo’s dedicated customer success team. As Stacy highlighted during the discussion, Zinrelo’s team went above and beyond their regular remit and made sure that Jambu were able to launch within a very aggressive timeframe. In addition, regular calls with the dedicated customer success manager and QBRs (quarterly business reviews) and QSP (quarterly success plan) by Zinrelo’s team added to Jambu & Co.’s success.
Key results
Using Zinrelo’s loyalty program, Jambu & Co. witnessed the below results:
- Engaged members of the loyalty program contribute 52% more revenue
- Loyalty members contribute 3X more repeat revenue compared to others
- Zinrelo helped Jambu & Co. achieve a 32% increase in overall customer retention
- Jambu & Co. recommended brands from Vida group to Zinrelo
Excerpts from Q & A section of the webinar
Q: Why did you opt for a bonus points campaign in the holiday season? Why not offer your customers a discount coupon instead?
A: Stacy Feldman, Jambu & Co. – There are two ways of engaging your customers. By offering a discount coupon, the respective customer would have visited Jambu & Co. website, purchased the product, and availed the discount; but that would have been a one-time purchase only, without creating a hook for the subsequent visits/purchases. Rewarding points, on the other hand, provides a mechanism to hook the customer for not only multiple purchases but continuous engagement, leading to an increase in customer lifetime value.
Q: What are the 2 or 3 most important things we need to keep in mind while setting up a loyalty program?
A: Dibyo Ghost, Zinrelo –
1) Get the right program design
2) Make sure you have the right personalization of the campaigns to complement the program design
3) Ability to track and monitor through analytics and right support and customer service
4) Constantly get the most out of your loyalty program like pre-schedule campaigns etc.
Q: How much of an effort is the day-to-day ongoing management of the program?
A: Stacy Feldman, Jambu & Co. – I take care of the program on a daily basis and do not need the help of a developer. Once I set up the automated email triggers, it does not require any extra efforts. I can even set up the campaigns within a couple of minutes.
September 04, 2024
