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Title: Loyalty Marketing
Description: Second year university notes for a Marketing degree. Introduction to Loyalty Marketing
Description: Second year university notes for a Marketing degree. Introduction to Loyalty Marketing
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Loyalty Marketing Lecture 1
Real & Ersatz loyalty compared
Set book: Reicheld 2001 the loyalty effect preface
Why customer loyalty counts
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g
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Whereas tesco makes money but cx doesn't shop there all the time
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E
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Washing machine business? Cx aren't going to repeat buy
Nature of purchase
Nature of business
Is business looking to grow?
Does it make sense? Only sometimes I
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for tesco boots etc - long stablished businesses
Think about loyalty marketing in the sense of friendship
Loyalty is not one dimension
PP diagram
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g Aviva - insurance travel, car, home, pet etc
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g starbucks coffee spend more, come here more often I
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Other products I
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E
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In the morning giving cx a voucher for after 1pm
in order to gain theses customers
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g British airways classes etc
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g mobile phones % of people who shift
Churn - gaining cx e
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g washing powder perceptions from a young
age which last a long time both positive and negative
What constitutes friendship loyalty in our real world
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Critical first stage: finding and acquiring the right people for your business!
Theory: spiral of prosperity - almost works
Who is most likely to be the right customer for me - target market - sell products - get customer
information - build database and analyse - talk to key customers regularly - cross sell up sell and
renewal - increase customer value - analyse database - more profits more investment
Think initial acquisition
Find those with similar characteristics to your own existing customers
Choose appropriate media
Do you want lookers, triers or buyers
Provide a winning hook and message
How well did it work against initial goals
If you understand the profile of your people then you choose the appropriate media
Essential qualities for marketing loyalty
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The product / service delivers as promised
3
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Effective / speedy problems solving
5
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Two way dialogue
7
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g
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Title: Loyalty Marketing
Description: Second year university notes for a Marketing degree. Introduction to Loyalty Marketing
Description: Second year university notes for a Marketing degree. Introduction to Loyalty Marketing