Why Loyalty May Be Just the Thing to Breathe New Life into Healthcare

by Rohan Ahire |

Why Loyalty May Be Just the Thing to Breathe New Life into Healthcare

Customer Loyalty for Healthcare Industry

The pandemic forced consumers to see healthcare differently. Patients today want a richer experience based on “know me, engage with me, educate me, and take care of me”. They want a healthcare partner. Patients also are seeking out new ways to get care and telehealth has accelerated the need to integrate in-person and virtual care. … Read more

Advocacy Marketing – Turning Customers into Brand Champions

Today, for most people, the singular source of entertainment, news, and information is user-generated content. In layman terms – social media platforms. The dependency on user-generated content has increased considerably in the last few years. With a platform to share your views, customers are getting more vocal about their likes and dislikes, causing a direct … Read more

The Age of Customer Advocacy Marketing

Ever bought a product or service because it was hyped on social media? Or it came strongly recommended by online friends? You probably answered ‘Yes’ and so did 70% of customers that believe consumer opinions and 90% that rely on friends’ recommendations, according to recent research by HubSpot. If you ask marketing and social media … Read more

Top Advocacy Marketing Examples from the Current Industry

Brands investing time and effort in advocacy marketing in the current time are experiencing gains

The sheer potential of word-of-mouth marketing makes advocacy marketing highly important for any brand focused on devising a solid customer acquisition strategy. Brands investing time and effort in advocacy marketing in the current time are experiencing gains on multiple fronts. From new customer acquisition and enhanced revenue generation to brand building and more, advocacy marketing … Read more

Revolutionizing Segmentation: Individualization Using RFM to Step Up Further

RFM

In today’s fast-changing world, marketers need to re-evaluate how to reach out to and engage their audiences. They can do this through a customer loyalty program. Not only with the program help to engage their audience, but it will allow organizations to collect a wealth of zero and first-party data. This data can then lead … Read more

Customer Referrals – Strategic Advantages and Application

How often have you purchased something that your peers and family strongly recommended? Chances are that you have purchased such products, and quite often as well.  More often than you think, brands and companies rely on the patronage of their loyal customers to acquire new customers and expand the brand’s reach. This is precisely what Customer Referrals … Read more

How a Referral Tracking Software Can Improve Campaign Effectiveness

Referral Tracking Software

Trust is the central principle of all human relationships and even transactions; this is why brands always seek to build a relationship with their customer based upon the fundamentals of trust. Every marketing strategy and brand loyalty program is designed to build faith. It is also the primary reason for the success of referral marketing. … Read more

Why It’s Imperative to Combine Engagement & Loyalty—From Browser to Advocate

Browser to Advocate

Building loyal customers who are advocates for your brand will continue to grow your company’s bottom line for years. The key is to use your loyalty program to engage and inspire your customers to share their experiences across your ecosystem and in social media. Read through the journey below for the proof points you can’t ignore.   … Read more

Need to make changes to your loyalty program? Take a lesson from Nordstrom

Customer Loyalty Predictions

When we create our loyalty programs, we run models. We run the models again. And again. We try to factor in all of the potential outcomes.  We desire a program that drives new behaviors and also gains approval from our CFO. A program that drives revenue and enhances our bottom line. As diligent as we … Read more

5 Best Advocate Marketing Practices to Build Customer Advocacy with Loyalty

Best Advocate Marketing Practices

Following the best advocate marketing practices powered by a robust advocacy marketing strategy can help you to transform your loyal customers into your brand advocates. While positive customer review is extremely critical for a brand’s success, the key to increased customer lifetime value and acquiring new customers lies in taking proactive measures to turn your … Read more

5 Types of Influencers for Your Brand

influencer marketing

Marketers have leveraged influencers for a long time, from athletes on the Wheaties box to celebrity chefs endorsing cookware. With the advent of social media, influencer marketing has quickly trended toward helping brands expand their reach and connect with new customers. Influencers can be highly effective when they’re knowledgeable and enthusiastic about your industry and … Read more

Integrating Referral Marketing And Customer Pain Points

Referral Marketing And Customer Pain Points

According to Mark Zuckerberg, a trusted referral is the holy grail of marketing. This is certainly not hyperbole for many marketers when you consider that 71% of companies reported higher conversions rates with referral programs. But still, 29% of those companies still haven’t refined their referral marketing strategies. More often than not, referral programs are set up and then expected to perform, but they aren’t treated as a piece of the bigger marketing strategy. In order for referral programs to really perform they need to be ingrained into the customer experience and constantly updated and refreshed.

By building a strategy that thinks about referral marketing and customer pain points in a single breath, referral programs can get the differentiation as well as an experiential factor- something that most of the programs fail to achieve.

A) Product Discovery and Return Rates:

One of the simplest ways to tie referral marketing and customer pain points is to tackle the product return issues.  Simply because whether online or in-store, returning products is annoying at best and downright unpleasant at its worst. It would be so much better if customers were sure about their online purchases the moment they made them. Referral marketing can help increase the confidence your customers feel in their purchases as well as the likelihood that they will actually like what they buy.

Your customers know their friends better than anyone and it’s likely that many of them share similar tastes. We all know that referrals are more trusted, but they also yield more qualified customers because they are more likely to buy and less likely to initiate returns.

Referral Marketing can also help your customers along in product discovery. Offering the ability to share specific products ensures your referred customers know exactly what their friend was thinking they would like. If your customers buy into your brand the first time with a positive experience, they are more likely to become long-term customers.

B) Detailed Product Information:

Forrester reports that 45% of US customers are likely to abandon an online purchase if they can’t find a quick answer to their product-related questions or doubts. With referral marketing, you can abate customers’ potential questions or concerns right away. You can create a referral template that doesn’t just include a referral link, but also offers detailed and authentic product information. When your customers send their friends specific products they think they would like, adding product information to the referral email helps convince the referred customer before they’ve even visited your website.

C) Customer Experience:

Customer experience nowadays is not just defined by the time between when an issue is raised by a customer and when it’s addressed by the company. Richard Owen, the Vice President of Dell Online Worldwide, defines the customer experience as being the “sum total of the interactions that a customer has with a company’s products, people and processes. It goes from the moment a customer sees a product to the moment when they accept delivery of a product – and beyond”. 67% of customers mention bad experiences as a reason for churn, so it’s pretty clear how important customer experience is.

Obviously, a bad customer experience should never be associated with your referral program, but even a mediocre one can be problematic. One way to ensure your customer’s engagement with your referral program goes above and beyond is to incorporate experiential rewards and customization.

One of the ways to up the experiential value of a referral program is to make it extremely personal and intimate. Note that this need for personalization rings true for all customer groups. Personalization is a higher priority for driving loyalty for Generation K (54%) and Millennials (52%) than it is for Generation X (48%) and Baby Boomers (40%) .Rare. 

It’s true that calling your customers by their first names, and sending gifts or best wishes on the special occasions holds importance. But that’s not enough to fully capitalize on the personalized experience. New ways to personalize referral programs are necessary.

TaskRabbit has devised an innovative way of personalization. Apart from implementing the ability for advocates to customize their referral messages to friends, its referral program allows it to pull in the advocate’s picture. Now, it is achieving more than personalization. By displaying advocates’ photos, TaskRabbit is instilling in them a feeling of being in the spotlight. The program makes them feel special…and people love that. It also adds an emotional connection for the referred customers, seeing their friend’s face when reading a recommendation of a product they might truly love.

Referral Marketing And Customer Pain Points
Indeed, a modern referral program needs to break away from its old transactional nature. It should extend from just a customer acquisition solution to an interconnected piece of your marketing strategy including your customer pain-point management.  Creating a combined ecosystem of referral marketing and customer pain points can be an efficient way to move ahead in that direction!

Key Benefits of a Unified Platform for Loyalty, Referral Marketing, and UGC

Benefits of Unified Loyalty Platform

In one study, Gartner advised businesses that if they manage customer experience well and meet or exceed their customers’ expectations, they can see increased customer satisfaction, loyalty, and advocacy. The notable thing about this advice is the flow of the important elements that starts with customer satisfaction, moves on to loyalty, and ends with advocacy. A closer look will reveal the inherent interconnection among these important elements, as more or less, their existence depends upon each other. Without memorable customer experience, a stream of loyal customers cannot spring up…and advocacy is the maturation stage of a loyal customer. The interplay of the symbiotic relationship between these three elements, especially between loyalty and advocacy–comprising of referral marketing and user generated content–is indeed palpable. A unified loyalty platform and advocacy has germinated from this basic thought.

Of course, concrete and tangible benefits of a unified platform for loyalty and advocacy provides originate from the nature of a brand advocate, which is to be extremely vocal about the brand that they love and prefer. Naturally, this adds wings to the reach and visibility of a brand among consumers. But if we analyze it closely, advocacy actions like referrals and the contribution of user generated content are actually surpassing the effectiveness of the traditional marketing. Note that traditional marketing is based on understanding customers’ needs and then convincing them to buy products, but advocacy is based on maximizing the customer’s interests and partnering with customers. Clearly, it’s a proactive approach.

With the extended scope of advocacy actions due to increased availability of ratings and reviews, questions and answers, and referrals, advocates can easily become mainstays of that proactive approach. Besides, according to Edelman Trust Barometer, 60% of consumers need to hear something about a specific company three to five times before they actually believe it. As advocates tell twice as many people about their purchases, they are perfectly placed to fulfill this demand of other customers. The more shoppers hear about your brand through advocates, the more trust they will have in it. And this is the juncture where the actual beauty of the relationship between loyalty and advocacy lies.

Once a consumer considers your  brand trustworthy, most (51%) will believe positive information after hearing it just one or two times vs. 15% when the company is distrusted. Knowingly or unknowingly, advocates are carrying out the incredibly valuable task of sowing seeds of loyalty among other customers. It’s like a cycle–loyalty begets advocacy and advocacy, again, in turn, begets loyalty. Clearly, these facts and connotations create a case to provide a tailor-made platform to the loyal customers where they can display their advocacy behavior more constructively and in a well-organized way. Apart from imparting this obvious benefit, our unified platform for loyalty and advocacy gives out technical benefits to the business, which can incrementally uplift its operational efficiency. The following points cover some of the most prominent technical benefits a unified platform.

Less Stress for the Tech Team

When you assemble multiple types of software from multiple vendors, many pain points appear on the surface. The tech team needs to think about compatibility, as it has to integrate data and functionalities between different point solutions. Naturally, more vendors mean more contact people in case of a software failure. It can disrupt the whole flow of a campaign, as the solutions may stop functioning.

But when the solutions are unified, the technical integration moves away from the list of worries. Since it is inherently per-built, it is ready to deliver results from the word go. Also, it’s less expensive in comparison to assemble multiple solutions from multiple vendors. This is especially true when you add up the set-up fees and hours lost to training.

Unified Customer Data

A dashboard is a mirror that tells how your program is performing at all the major performance benchmarks. When you have complete data of behavior regarding customers’ loyalty, referrals, and content contributions in a single view, it surpasses the predicament of data silos. A unified platform gives you data about the following, and more.

  • Loyalty points standing and actions taken on an individual basis
  • Aggregate loyalty information like program growth, points liability, repeat purchase rate, etc.
  • Individual referral insights like number of friends referred, status of referral, etc.
  • Most successful referrers
  • Big-picture referral program information like program growth, conversion rate, ROI, etc.
  • The contributions and stats pertaining to individual UGC contributors
  • Aggregate UGC stats like growth, contributions, conversion rate, ROI, and more
  • Purchase data, like time, frequency, value, etc.
  • Location of purchase or delivery
  • Type of product purchased
  • Interactions with the brand in-store, online, in-app, or on social
  • Any data imported from a client’s CRM, ERP, ESP, or personalization engine, among other third-party data sources

You can then create segments with multiple criteria, for example:

  • Frequent, high-spending customers who live in the Northeast US
  • Frequent customers who’ve reviewed a product in the past 3 months
  • Mid-tier customers who have hashtagged a photo with your brand’s hashtag
  • Even extremely specific purchases and actions, like in-store shoppers who bought fuzzy sweaters in your California locations and then referred friends

Without unification of your loyalty, referral, and UGC programs, it’s almost impossible to know how many loyal customers are actually advocating your products and who they actually are. This situation arises due to disjointed data, as data comes from two different solutions and from two different vendors. Moreover, if the same set of people at your company are managing multiple solutions and different data sources using different platforms, it causes wastage of precious time and training resources.

Flexible Configurations 

A well-designed unified platform simplifies addition, enhancement, and removal of software components. The ability to configure new modules in almost no time allows you to allocate your time to promote your marketing activities. Also, as it comes with per-integrated set ups, connecting it with core applications such as Visual Commerce and Social Login doesn’t need lots of technical efforts. Consequently, it assists you in scaling up the scope of the solution.

Top-Down Design

The general approach of most of the software development is bottom-up. It means that marketers give inputs to the developers regarding their needs. Based on that, developers come up with a data structure along with the user interface to help enter and review this data. It is then followed up by the creation of a reporting system. But to dash away from this old model, there are advantages to building a unified platform for loyalty and advocacy in a top-down fashion.

In Annex Cloud’s case, we first defined the basics that are required for the efficiency of customer loyalty and advocate marketing campaigns. Then we created use cases. The penultimate phase was the creation of data units. The finality was the development of intuitive user interface.

Now, the visible benefit of this approach is that newly added technologies and products in the platform also follow the same top to bottom approach. For example, when some social media network changes its policies or algorithm, its consequences are studied from the point of view of all the applications before they get inserted into this unified platform for loyalty and advocacy. In addition, we cross-enable enhanced business insights across our interconnected applications.

It’s no secret that marketers want a marketing solution which will help them to reach out to more people and thereby hold the largest growth share. A unified platform for loyalty and advocacy is the closest thing to that ideal version of marketing solution due to its ability to touch upon the three most vital aspects of any company: technical, operational, and marketing. As an output, it assists in bringing the measurable alignment between the efforts of sales and marketing teams. And that’s what is at the core to have a marketing program which can be altered by sensing the need of the hour; or as a contingency measure.

Better than the Sum of its Parts: Loyalty, UGC, and Advocate Marketing for Manufacturers

Loyalty, UGC, and Advocate Marketing For Manufacturers

Just like every other industry, manufacturing has not always been exact in pinning down the actual worth of loyal customers–they’re basically seen as entities that generate repeat purchases. Even though there is truth in this proposition of repeat purchases, it’s not the complete truth. The real power of loyal customer lies in his ability to bring more customers by becoming vocal about your brand in myriad ways. But he is allowed to do that in a logical and effective way when he is elevated to the status of a brand advocate. How can you make this happen? Combine strategies of customer loyalty, UGC, and advocate marketing for manufacturers.

The Growing Premise of Advocacy and UGC

Combining loyalty, UGC, and advocate marketing for manufacturers is a rational choice mainly due to two factors. The first one is the basic nature of a loyal customer to stay vocal about your brand. The second one is the growing premise of advocacy.

The definition of advocacy is that advocates are essentially “volunteer marketers.” They share and promote your brand for free, because they’re satisfied customers. Referral marketing and contests are giving more space for loyal members to express themselves in front of other customers.

Additionally, UGC, also known as user generated content, is spreading like wildfire. By contributing reviews, answers to product questions, posts on forums, photos, and videos, your customers vouch for your brand and give other consumers more information.

In the manufacturing industry, where the desirability of the product steadfastly depends upon its usability and functionality, having more “real” people talking about the finer aspects of your brand through reviews, videos or photos is a definite leg-up to the overall marketing schema and revenue funnel. This is especially true when we throw a glance over this stat: 88% of customers trust reviews as much as personal recommendations.

Moreover, manufacturers also need to pay heed to the remarks of MIT Professor Glen Urban, an authority on trust-based marketing. According to him, traditional push/pull marketing is not going to work, as today’s customers, who are superiorly empowered by technological advancements and have access to boundless information, expect more than mere relationship marketing. He further notes that just as push/pull marketing was an outcome of the economics of mass production, and relationship marketing was driven by the saturation of push marketing and intense rivalries, so will customer advocacy become the next imperative because of the accelerating growth of customer power. Combining loyalty and advocate marketing for manufacturers can actually prove a prudent strategic move in right channelization of that humongous customer power.

Close monitoring of these changing paradigms made us think about how they can be used to mitigate the intensity of the challenges that brands all across the globe face. The another line of thought was to be proactive and assist manufacturers in enhancing their operational efficiency in all possible avenues. That’s how our combined platform of loyalty and advocate marketing for manufacturers germinated.

The Benefits of a Unified Platform of Loyalty, UGC, and Advocate Marketing for Manufacturers 

A) Easy Implementation and Integration:

It’s often chaotic when multiple business solutions need to be installed from multiple vendors. The first issue that your tech team will need to tackle is of platform compatibilities, as they have to integrate data and functionalities between different point solutions. Similarly, multiple vendors mean multiple contact persons. This can disrupt the existing work flow of the platform in case of functional failure. Furthermore, assembling multiple solutions from multiple vendors is costlier than assembling from a single vendor. This holds truth particularly when you add up the set-up fees and unproductive (in terms of direct manufacturing) training hours.

B) A Singular View of Overall Customer Data:

Due to their over-dependence on retailers for sales, manufacturers have always found it incalculably difficult to know who their actual loyal customers are. They don’t have reliable and actionable data about how many people are buying, how many are repurchasing and how many are actually referring their brands. This happens due to their association with multiple retailers, distributors, and sellers. Even if data arrives from so many points, it will be disjointed and incoherent. This combined platform of loyalty, UGC, and advocate marketing for manufacturers eradicates these woes of data silos. Its dashboard gives a clear and singular view of a customer’s behavior. Among other insights, it shows:

  • Total purchases by customers
  • Referrals sent by customers
  • Reviews posted by customers
  • Sentiment reports
  • Answers submitted by customers
  • Revenue generated per solution, per customer, and more
  • Demographic insights
  • RFM (recency, frequency, and monetary) data

Of course, this actionable data enables manufacturers in better targeting and analysis. But it also helps in streamlining the operational efficiency. Manufacturers don’t need to have different people to collect data from multiple vendors. A criminal waste of human resource can be terminated through this combined platform of loyalty and advocate marketing for manufacturers.

Learn more about the possibilities of UGC and advocate marketing data here!

C) Ease and Flexibility of the Platform:

As the main vision behind this platform was to enable smooth integration of multiple solutions, its module has been designed in a way to simplify the addition, enhancement, and removal of software components. That’s precisely why we have built it in a pre-integrated framework. It allows connection of the core loyalty product with other advocacy solution without any big technical overhaul. Consequently, it assists you in scaling up the scope of the solution.

Clearly, combining loyalty, UGC, and advocate marketing for manufacturers is not just enabling you to use the power of a loyal customer in an effective way. It is also answering some of the pressing issues that have always followed manufacturers, most predominant one being the data deficiency. And all these beefed up operational efficiency is necessary if manufacturers want to be on the curve of perpetual growth. Remember that over the past 25 years, U.S.-manufactured goods exports have quadrupled. It was $329.5 billion in 1990…and in 2014 it reached $1.403 trillion!

The Lifecycle Email Approach to Your Referral Marketing Program

friends blanket mountain

On average, an office worker receives 121 emails every day. In such a cluttered space, your referral marketing program emails may go unnoticed quite regularly. Besides, too much similarity and an inherent dislike of the constant bombardment of marketing content can further diminish CTR and open rate. Another reason that emails may not perform as per expectations is that email sequences fail to make any sense to users, as they’re inconsistent. Taking a lifecycle approach to your referral marketing program emails can create a proper equilibrium between the content of the email and its relevance to the various stages of customer’s journey.

The Meaning Of Lifecycle Marketing:

Today, customers interact with businesses in different ways and through multiple touch-points. This has brought up the need to nurture a communication strategy that both values and recognizes the process of becoming an engaged, loyal customer, and so delivers responsive messaging throughout the customer journey.  In short, lifecycle marketing tries to engage with each prospect, lead, and customer differently because they are at different phases of the funnel. Owing to the uniqueness of every stage, it’s necessary for marketers to identify the needs of customers who are at different stages of their buying journeys. Lifecycle marketing enables marketers to do so with precision. The following image explains its flow.

lifecycle

Infusing your referral program with lifecycle principals–particularly in email–makes perfect sense. This combination is especially fruitful as most referral campaigns gather considerable traction through emails. When these referral emails get entwined with every stage of your existing lifecycle strategy–from welcome emails to loyalty points statements and order confirmations–it becomes much simpler for you to target right customer at the right stage of his/her journey. The added advantage of this referral lifecycle email approach is that it can strengthen your email list, which automatically ups the possibilities of targeting better customers, and, thus, better conversions.

Implementing Lifecycle Emails for Your Referral Marketing Program:

A) Promote, Promote, Promote!

Note that 77% of consumers are more likely to buy a new product when learning about it from friends or family. Garnering as much visibility as possible for your referral marketing program, thus, builds the base of your referral lifecycle email approach.

Newsletters introduce your referral program by framing it in a beautiful and clear template design. A catchy subject line, clear and unmissable CTAs, unambiguous display of program propositions are some of the prerequisites of good referral emails. These components become extremely important for introductory emails, as this is the juncture where customers get to know about your program for the first time. In that sense, this is the discovery phase for your customers. Zooshoo, a retailer that sells all sorts of stylish women’s shoes, has done it brilliantly.

referral program

The composition of the header image in this example is both clever and creative. The size and use of multiple colors make sure that it’s a head-turner. It’s clever because it showcases both their products, as well as the benefits of the referral program: “Give $10, Get $10”. Another notable part is the way it has used visuals to convey the steps required for the advocate and friend to get their incentives. By clearly highlighting the referral link in dark pink color, it is making the process further frictionless. Users are not required to lose their patience in finding the desired referral link. An added layer of ease and flexibility is given by clearly mentioning where can this link be shared on social media.

Aside from dedicated referral promotion emails, consider including a referral CTA in your…

  • Regular marketing emails
  • Welcome series
  • Order confirmation emails
  • Shipping/tracking emails
  • Loyalty program statements
Memebox, a beauty site, includes a referral CTA in its welcome email.
Memebox, a beauty site, includes a referral CTA in its welcome email.

B) Notify the Referred Friend

This step is relatively simple, as your email should be straightforward and emphasize that it’s coming from a friend. This referral email from Bebe, for example, uses the referring friend’s name as the sender, instead of saying it’s coming from the company. The subject line is to the point and just states what the discount is. In the body of the email, it repeats that the referral invitation is from a friend, and it clearly lays out the perks of shopping at Bebe.

This referral invitation email from Bebe is concise and emphasizes that it's coming from a friend.
This referral invitation email from Bebe is concise and emphasizes that it’s coming from a friend.

Of course, you should offer other ways to send a referral invitation aside from email. SMS, link copying and pasting, social sharing, and personal codes are all good options. If you have brick and mortar locations, ensure that your omni-channel referrals are optimized. Bebe, for example, allows users to redeem their referral discount in-store through their email ID.

C) Nurture Advocacy

Referred customers often get converted into brand advocates, as they are four to five times more likely to refer others. It’s partially because they know your process well and they had been at the receiving end of rewards. Emails can be instrumental in encouraging them to share more. As soon as you get to know that they have sent a referral to someone, motivate them to scale up their referral agenda in a bigger and better manner. Here’s how Xoom does it:

xoom referral email

As you can see, Xoom has used a gamification technique by prominently displaying a progress dashboard. It shows total rewards accumulated and the status of a friend’s referral. A ring of temptation is also there as customers can clearly see total rewards earned and the possibility of earning more rewards.

As shown by above examples, referral lifecycle email campaigns encapsulates the total buying cycle of a customer by first making them aware, then enticing them to send out more referrals, and finally trying to get more market share by incentivizing their advocacy behavior. It brings customers full circle and into the next buying cycle if done correctly. It’s a quintessential segmented approach to target effectively because messaging must reach viewers at just the right time. If you look closely, it’s also a tool to maintain the desired level of customer engagement and retention, as 68% of customers leave because they perceive that you are indifferent to them. Indeed, it can be a fool-proof methodology that comes with the potential of achieving multiple goals.

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