Event Details
Date & Time : 21 Oct, 2020, 01:00 PM
Join On : Google Meet
Oracle Lighting launched their VIP rewards program in 2019 to improve customer retention and build their loyal customer base. Just after the launch, they set up an A/B test to systematically measure the impact of their newly launched Rewards Program. The A/B test was able to prove a customer loyalty rewards program was the best way to increase customer retention. The retention was 10X higher for loyalty rewards for Oracle Lighting.
The Oracle VIP Rewards Program offers customers multiple point earning opportunities with simple actions to create a 360-degree engagement for purchases, referrals, birthday bonus, welcome bonus and sharing on Facebook. They offer customers attractive rewards and a tier-based rewards program to accelerate the points earning capability!
The points earning activities clubbed with targeted marketing campaigns ensured that the engagement remained high. The targeted loyalty email campaigns witnessed an open rate 2.44 times higher than the industry average. Additionally, the click rate was 11.26X higher than industry average. This proved that the customer engagement was extremely high which led to an increase in customer retention. Over the year, the retention rate further increased by 71.4%.
“Our customers are more loyal because we can engage with them better through the Loyalty Rewards Program,” commented Sandy Crespo-Mossi, Operations Manager at Oracle Lighting, “Every part of the loyalty program was designed carefully to achieve maximum results. The loyalty program has helped us boost our repeat purchase revenues by 154%.”
The loyalty program also resulted in a 9.88% increase in average order value (AOV). This AOV increase combined with the 71.4% increase in customer retention led to a 154% increase in repeat purchase revenue.
“Loyalty ensures that your customers do not go to competition, and this results in repeat business,” said Samir Palnitkar, VP of Customer Success at Zinrelo. “Zinrelo’s loyalty rewards platform can unlock key aspects of the business to maximize revenue potential. This is helping businesses to achieve short term and long-term growth.”
About Oracle Lighting:
Oracle Lighting has been producing automotive lighting components since 1999. They have received accolades from numerous organizations for their business practices including being listed on the Inc500 list of the Fastest Growing Businesses in the USA for the past 8 years consecutively, winning the 2012 Bronze Stevie Award for consumer products company of the year, and most recently being named The Small Business Administration’s exporter of the year, Small Business Champion by the U.S. Senate small business and entrepreneurship committee.
May 10, 2024
