So you have all heard about that Pokemon craziness, right?
We are glad to see that people are starting to use AR (Augmented Reality, basically the direct, real-time view of the world throughout your phone's camera with enhanced digital images, which modifies what you see) to track Pokemons, as this is something we are planning to implement in Shoployal as well. We have been working on it for quite some time, therefore I am happy to see that AR finally picks up the pace! Now we won't give you more Pokemons of course, but we plan to use your phones to be able to check all the offers and visit around you. Sounds cool, isn't it? If you can't imagine now, here is a quick mockup (don't worry, the actual app will be a lot nicer. :))
Good news for Local Businesses! If you are an Irish SME qualifying for the Online Trading Voucher than you can use the voucher to implement our Visit Based Loyalty system! Online Trading Voucher is a great way to bring your business online and create a webpage, and even to implement a visit based loyalty system with us! You can receive a voucher for up to € 2,500 (up to a maximum of 50 % of costs) and you can use that partially for Shoployal as well. Just contact us for more info!
We have surpassed 5,000 downloads on Android, and our user base is keep growing. Thank you for all the early adopters!
We are going to be in Vienna at the end of May on the Pioneers Festival, as one of the selected 500 startups from over the world! It is a great pleasure to be part of such an elite community. Watch out for more later!
1. Visits Vs Spending
What is more important, to reward customers when they are visiting a store, or when they are spending? At what point this information is important, before a customer visits, or after they made their purchase? A retail unit need customers to visit first, to spend later. Rewarding and increasing visits is the first step in a successful business.
- Engaged consumers buy 90% more frequently, spend 60% more per transaction and are five times more likely to indicate it is the only brand they would purchase in the future. All of these factors lead to engaged customers delivering three times the value to the brand over the course of a year (Rosetta)
- What brands can do to remain millennials' brand of choice: develop innovative new products and services (80%), improve design/style to reflect uniqueness (74%), improve product quality (67%), engage in causes, philanthropy, or endeavours that reflect beliefs/values (63%) & limit distribution to maintain the brand's exclusivity (54%) (Lim College)
- 87% of consumers want a customer loyalty program (Talech)
2. Spending points Vs Keeping Points
Most of current loyalty programs offer spending based solution, where customers acquire points when they spend, and they can spend their points on promotions or rewards. This means that once their acquired points revert to 0, they can, (and will) choose another retailer to accumulate points there. There is another approach gaining more and more place though, in Visit Based systems, such as Shoployal. In their case, users are getting points for visits, and they don’t “spend” those points in the future. They are getting rewards based on their standing with a certain retailer, but those points can only go up. What do you think, which system creates “real” loyalty?
- There are 3.3 billion loyalty program memberships in the US, an average of 29 per household (Colloquy )
- 97% of loyalty program reward mechanisms are triggered by purchases (Cap Gemini)
- 77% of transaction-based programs actually fail in the first two years (Cap Gemini)
- Top two benefits that motivate consumers to join a loyalty program are: earning points/miles on purchases (56%) and product or service offer/discount (55%) (Colloquy)
- Top two reasons consumers stop participating in a loyalty program are: did not provide rewards/offers that were of interest (56%) and too hard to earn points for rewards (54%) (Colloquy)
- 46% of shoppers who use loyalty programs consider them to be important in their decision to purchase (InReality)
3. Keeping Customer Vs Acquiring New Customer
Acquiring customers is a costly business. Reaching out to those, who are not your customers yet, requires well targeted campaigns, and an increased spend in marketing, with small ROI. Keeping a customer is cheaper, however if you add the cost of acquiring those first, it can be more expansive than you think.
Leading business concerns among US small business owners: finding new customers (66%) & retaining existing customers (40%) (Constant Contact)
Frequency of interaction builds loyalty and advocacy: 87% daily, 64% weekly, 49% monthly and 33% few times/year (Strativity)
4. 125-year-old Technology Vs New Technology
Customer loyalty as an idea is around since the 18th century. American retailers began to give copper tokens that could be redeemed for product on a future purchase. Retailers quickly learned that using coins as a retention strategy was a costly way of promoting loyalty and they began to transition to less expensive options. In the late 19th century around 1891 stamps replaced coins in “loyalty programs”. A lot has happened since then, and the most popular spending based systems are in use since the 1990’s. A revolution is on the brink, with mobile phones and innovations in IT and customer relations. New technology, such as visit based loyalty, is transforming the way retailers interact with their customers, making the connection easier, cheaper, effective and instant. Lengthy signups are in the past, and irrelevant vouchers are annoying instead of helpful. There are new ways to create lifelong loyalty with systems such as Shoployal, a visit based loyalty solution. What are you waiting for? Let’s take loyalty to the next level!
65% of corporate execs said rising customer expectations had increased pressure to innovate, and 58% said the same about competition with other companies (Lithium)
64% of enterprise mobile marketers said that their top priority for mobile apps is to enhance the customer experience and drive customer loyalty (FollowAnalytics)
Top two reasons consumers continue to participate in a loyalty program are: easy to understand (81%) and rewards and offers are relevant (75%) (Colloquy)
883% more retailers plan to have the ability to identify customers when they walk in the store via their smartphones in five years (Boston Retail Partners)
Fancy spending 100 EUR on us? Download Shoployal on iOS or Android, and send us your SL ID (Settings<-Show ID) to firstname.lastname@example.org to have a chance to win a 100 EUR voucher! If you want to increase your chance, get your friends to download our app, and send their ID along with yours. You can enter several times with a referral! Its that easy!
Draw takes place on the 15th of March and on the 1st of April.
We have been longlisted for the The Irish Times/AIB Start-up Academy. We are in the final 60, selected from 400+ startups. Thank you all for your help! Lets hope we can make the shorlist as well!
We wanted to highlight the two new features we have recently added to our App.
Our Shopping List is a basic version of a very exciting feature. At the moment you can add items one by one, and cross them out our remove once you have bought them. Its handy if you don't have a pen and paper.
Our Loyalty Wallet is another useful feature, purely for your satisfaction! Tired of searching for those small cards on your keychain? Add them to our Wallet with the help of our Build In Barcode reader, and show the barcode at the till! Even if the store has an out of date scanner, you can just read them your number and they will key it in. Its that easy!
We are going to keep you updated here on events, related to Shoployal. Be it a new release, or just an idea what we have. Communication is really important for us! Drop us an email to email@example.com any time if you have any feedback/suggestion.
Where do you usualy shop? Where would you like to use Shoployal? (vote for multiple stores if you like)
If you cant see your favourite store in the list, please send us your recommendation so others can vote for it!