Yotpo is an e-commerce marketing platform that provides various tools and services to integrate online businesses. It provides business owners to design SMS marketing programs, Referral and loyalty programs, visual UGC, and other marketing strategies according to their business needs.
In the preceding text, we will comprehensively talk about the Yotpo loyalty program and how loyalty programs can be built exclusively on Yotpo.
What is a loyalty program?
While shopping online you would probably spot various rewards, coupons, and special incentives offered on purchase of a particular product, Or you might come across a video on social media with celebrities and influencers talking about how you can purchase a particular product they endorse, in a discounted price by using their coupon code. These marketing strategies form a loyalty program.
To be specific, a loyalty program is a marketing strategy, where you offer a buyer a free service, special incentives, or discounts on purchasing a product. The purpose of this program is to entail more and more new customers and encourage repeat business with the existing customers.
Yotpo loyalty program
Yotpo is a platform where you are not only able to create customer loyalty programs but also measure and evolve them based on your business needs and customer base. Yotpo provides tools that can quickly evaluate your business growth and market value, and design a loyalty program that can accelerate your brand growth.
With tools available on this platform, you get a better insight into businesses, which is important for creating and implementing a loyalty program to ensure the goals of your business is achieved, whether increasing sales, driving revenue, reviews, or acquiring a bigger customer base.
How Yotpo loyalty works?
Yotpo believes once you appropriately analyze a business, you can effectively create marketing strategies. There are various strategies Yotpo utilizes that helps create and implement an effective loyalty program in your business:
1. Diverse reward offerings: rewarding customers with benefits such as a coupon, discounts, free shipping, and more, to encourage them into repeated purchases.
2. Tier-based programs: institute a tiered program based on points, spending, purchases, and referrals.
3. Advanced segmentation: target customer segments based on the number of referrals completed, last purchase date, point balance, VIP tier, and more.
4. Scheduling campaigns: Run time-sensitive campaigns to keep your loyalty program on top of mind, and optimize your program more effectively by scheduling them in advance.
5. Customer acquisition: rewarding your loyal customers for referrals, they act as your brand advocates and drive the most cost-effective revenue.
6. Actionable insights: optimize and improve engagement by using real-time data on the loyalty program dashboard to gauge ROI.
Yotpo loyalty tools
Yotpo loyalty works with different tools which help you create, measure and evolve loyalty programs tailored for your business-
· Consultative services: customer onboarding starts when there is an in-depth consultation on your product.
· Custom implementation: implementation management, copy-writing, design, and development are all included in Yotpo.
· Account management: Yotpo provides an enterprising customer success management system that helps not only implement but also improve your program over time.
· Customized deployment: a powerful tool that allows brands to deploy branded assets related to program anywhere on site.
· Granular Analytics: detailed metrics that make it easier for brands to evaluate and optimize their marketing program.
· Marketing integrations: provides everyday tools like reviews, support, social media platforms like Facebook, Google, Instagram, Adobe, Walmart, and much more to integrate into your business.
Loyalty ROI calculator
There are more than thousands of loyalty programs built on Yotpo. Based on the data of these loyalty programs Yotpo provides a special tool- the loyalty ROI calculator, for business owners to determine the bottom line of implementing a loyalty program in a business.
ROI refers to the return on investment, a financial metric that tells you the probability of gaining or losing upon investment.
The ROI for your business is calculated using numbers from your annual orders, annual customers, and average order value, giving you the value of purchases per customer, a metric that is directly impacted by a loyalty and referral program.
This shows you the revenue uplift you can potentially see from a strategic loyalty program.
Yotpo loyalty program generator
Loyalty programs previously were just a ‘nice to have thing, since brands competed on price and functionality, But looking at the impact it creates on future-proofing and expanding businesses, it is now an essential investment for a business.
Yotpo not only provides a platform for independently designing a loyalty program but also provides a special tool- the loyalty program generator that understands your business and generates a loyalty program that is best suited for your business.
The loyalty blueprint
Yotpo understands that building a loyalty program holds utmost importance in a business and plays a significant role in the brand market.
Based on the already existing loyalty programs, Yotpo has created valuable resources to let business owners educate themselves through real customer loyalty program examples an exclusively designed loyalty blueprint: A Practical Playbook for building the Right Program, which discusses how top direct-to-customer brands are taking new approaches to loyalty and how you can do it too.
FAQs
Q1.) How can I install Yotpo loyalty and referrals?
Ans: Yotpo loyalty and referrals can be
set up on various platforms like Shopify, Magneto, etc. Visit https://support.yotpo.com/en/loyalty-referrals/installing-yotpo-loyalty-referrals to get step by step approach on each platform.
Q2.) How can I create a Yotpo membership program?
Ans: There are 3 main steps to creating your Yotpo Membership Program:
· Create a new membership product in your store
· Create a Paid Membership campaign
· Add a new VIP tier
