Top 3 eCommerce Reads for October 2021
Don’t want to spend hours poring over the latest news in D2C eCommerce? Here’s 3 articles we think are worth reading this month.
Coping with the big switch: How paid loyalty programs can help bring consumers back to your brand
We’re big fans of membership programs, and this article from McKinsey highlights why paid loyalty programs are the next big thing. Specifically: “A 2020 McKinsey survey on loyalty programs found that members of paid loyalty programs are 60 percent more likely to spend more on the brand after subscribing, while free loyalty programs only increase that likelihood by 30 percent. In addition, paid loyalty programs drive higher purchase frequency, basket size, and brand affinity compared with free loyalty programs. As a result, paying members can be worth several times more than nonpaying members, even setting aside revenue from membership fees themselves.”
Paid and Subscription Loyalty Programs: A Comprehensive Guide (2021)
If you’re considering launching a paid loyalty program, this guide is a great place to start. It outlines all the things to consider, like what to charge, what to offer, and whether a paid loyalty program is even right for your business. It also provides a list of stores running compelling membership programs (like Restoration Hardware and Best Buy) to give you some inspiration.
The dream D2C stack: $2m edition
We’ve recently become huge fans of 1-800-D2C, a site that aggregates tools that the best D2C eCommerce brands are using right now. This is a fabulous run-down of the tools you should be using (or at least considering) if your business is hitting a $2M annual run-rate. Don’t worry if you’re not at that level yet - the tools on the list are still worth investigating, and 1-800-D2C founder Tim has tons of other guides and recommendations that will help you find the right tools for your business.
Whether you’re looking to start a free or a paid loyalty program, we’ve got you covered. Check out Conjured Referrals and Conjured Memberships in the Shopify app store now!