Before designing your program, Flaunt conducts a “loyalty audit” comprising of:
***A comprehensive overview of your brand, competitive differentiation, customer experience, products, growth trends, marketing communications, data collection, and customer segmentation in order to identify quick win opportunities, specific target KPIs for the loyalty program, and novel ideas to shape the loyalty program strategy.***
***takes a breath***
This is a lot. But we can do it in a few days.
The audit is largely done “blind”.
We start with whatever insights we were able to gain from our sales process and then get hooked into your system so we can start learning and creating value while requiring no input from you.
(We know you’re busy)
What happens first?
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1. We get hooked into your Shopify.
2. We get hooked into your Klaviyo.
3. We get hooked into your subscription platform (if applicable).
Then we go to work.
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It all starts with your brand story.
Then your current ecommerce UX.
Then competitive differentiation and insights.
Then industry-specific research to make sure we are up to speed on the dynamics in your industry.
Then growth trends.
Then digging into the “why” behind growth trends.
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🤓 Then we forecast your sales & gross profits using our cohorted growth model.
This is what allows us to really hone in on setting targets for the KPIs that can move the needle and ensure they make sense in the context of where your business is trending.
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Then we breakdown your products.
We get a crisp understanding of margin and popularity of various products.
What products do top customers purchase that others don’t?
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Then we evaluate your Klaviyo.
We segment customers to develop a customer lifecycle model.
What are the appropriate customer segments?
What are the behaviors we want them each to do to advance our target metrics?
What data are you collecting that gives you opportunities for personalization?
What are you doing with that data?
What do we wish we knew about your customers that could get asked in a survey?
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Finally, this is packaged into insights, ideas (which may or may not be associated with a loyalty program), and a brief list of outstanding questions we need answered to design and implement the program.
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The goal?
#1 = VALUE. We don’t want you to wait several months before seeing the impact of our partnership.
#2 = IMPACT. We want your program to work. We have a platform and people that can build custom programs. We are only as good as what we know so we soak up everything we can.
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Lmk if you’re interested in learning more about the loyalty audit framework!
We are packaging it up to give away for free in the coming months.
#Shopify #Klaviyo #ProfitableLoyaltyPrograms