Since loyalty is more difficult to earn and retain today due to unlimited choices in the marketplace, REVOLVE officials wanted to create an enhanced customer experience.
To achieve this, they took the next logical step: They asked their customers what they wanted to see in a REVOLVE loyalty program.
What they found was their customers wanted a fun and engaging program that rewards them for shopping their favorite brands.
As a result, they recently launched a new, free pilot program targeting their core customers called REVOLVE Loyalty Club.
Here are three things that makes the program unique.
1. The Focus is on Compelling Value
For REVOLVE officials, enhancing the customer experience focuses on the overarching point of value.
They realize that for consumers to engage regularly with any loyalty program it has to offer compelling value.
The REVOLVE Loyalty Club value proposition hinges on a program that offers compelling value and combines transactional and emotional loyalty drivers.
Everyone loves transactional benefits like discounts and consumers also crave experiential benefits that attract and retain your best customers.
By combining transactional and experiential benefits in a loyalty program, a brand will elevate the engagement of your best customers and entice new members.
REVOLVE Loyalty Club achieves this attractive loyalty dynamic and this will impact customer engagement in the future.
2. The Rewards Go Beyond Points
While transactional benefits make consumers feel smart, experiential benefits make them feel special.
As a next-generation fashion retailer for Millennial and Generation Z consumers, REVOLVE realizes its customer base has specific expectations that need to be addressed in a loyalty program.
Going beyond points to include access to unique experiences, exclusive meet & greets with influencers and celebrities, and the chance to join REVOLVE trips is a great way to offer a well-rounded and engaging program.
“We developed this program entirely with our core customer in mind,” REVOLVE co-CEO and Co-Founder Mike Karanikolas explained. “We utilized our live customer service channels to confirm what inspires our customer and why she likes to shop with us. It was plain and simple, she told us she wanted access to a fun and engaging program that rewarded her for shopping her favorite brands.”
The importance of valuable and varied program benefits is also seen in a brand like Lululemon.
Members of Lululemon’s premium loyalty program receive a free pair of pants, free expedited shipping on online orders, and experiential benefits like free yoga and fitness classes.
All these factors create an emotional connection to the brand and a sense of community that give members that special feeling of exclusivity.
3. The Program Takes a Tiered Approach
REVOLVE Loyalty Club offers tiered rewards, which is a great way to attract, motivate, and highly engage your members.
The program’s loyalty tiers are: Insider, Star, VIP, and Elite.
The program serves customers with different tiers of rewards and perks on points garnered through each dollar of purchase. For every 2,000 points earned, customers will receive a $20 reward to spend on the site within three months and have the chance to make triple the points through REVOLVE’s brand of the month.
A tiered loyalty approach allows members of all engagement levels to enjoy the program experience and for the brand to show the value to lower tier members, which could motivate them to move up.
From a loyalty standpoint, a tiered program approach is an excellent one because it involves that many more people because they want to engage at different levels.
Another great thing about a tiered approach is it allows a brand to impact members at a certain level that would prompt them to move to a higher level.
It All ‘REVOLVES’ Around Loyalty
Retailers realize that differentiation on product, price, and location is not enough to earn long-term customer loyalty.
What consumers want is value from a brand and that can manifest itself in an engaging loyalty program.
REVOLVE Loyalty Club offers compelling value, goes beyond just points, and offers an attractive tiered approach.
And it’s because of this program structure, which creates all-important emotional connections with customers, that REVOLVE Loyalty Club will prosper.