Sunday, September 30, 2012

Driving Loyalty Through Daily Deals and Discounts

"Customer Loyalty begins when you understand and fullfils the customer's needs."

I had the chance to be part of the first Customer Loyalty Expo and Conference held at the Crown Plaza Hotel at Ortigas last Friday, September 28, 2011. I was fortunate enough to be invited as a resource speaker because the business model of the company I'm working for focuses on discounts as a platform for customer loyalty program. Like I said during the talk - discounts for consumers is definitely a big yes but for businesses, more often than not, this is not a model they will be willing to explore. After all, who would want to give discounts everyday?

Well, we do!

Event Program

The event attendees was limited to 180 participants from different industries. These are leaders in each organization and I am privilege enough to share with them what I know about loyalty in the context of social commerce.

I was given 45 minutes to discuss my topic and here are some of the key points i've made during the talk:

Before creating a loyalty program, one must KNOW their customers.
Knowing means understanding customer behaviour. (what items they buy, how often, demographics and psychographics of these customers, etc)
Loyalty is defined as REPEAT customers.
in the Discounting model, Loyalty is a function of two variables: discounted price and the surprise element.
Always provide something different everyday.
What maybe working today, may not work tomorrow. (in the context of customer loyalty)
Surprise and Delight keeps daily deal hunters coming back!

Here's the presentation slide I used during the event:

I would like to thank Exlink Events for making me part of this and imparting my knowledge about Daily Deals and Discounts. A few photos during the event.