S06 EP22: Maximising Customer Loyalty through Personalised Pricing

On today’s episode, Kunle is joined by Cactus Raazi, Best Selling Author of PRICE: Maximizing Customer Loyalty through Personalized Pricing. He is also founder and former CEO of Elefant Inc., now a part of Exos Financial, which leverages AI-powered pricing to build smarter marketplaces.Businesses are often obsessed with collecting data points for visitors and users. This would be to build out email lists, sms lists and even social media audiences. More often than not, this type of data only comes through increased marketing spends. However, there is one source we can tap where users readily share their details - our customers.All too often businesses either don’t collect the right data or simply don’t leverage the data they have to segment customers. We know all about segmenting audiences so as to send the right marketing campaign at the right time. But what if you can segment your customers and offer a personalised price basis on the value of those relationships? This would take your customer loyalty program to the next level.In this episode, Kunle and Cactus talk about leveraging data and price as tools to maximise customer loyalty. You will get to hear about the difference between dynamic and personalised pricing, how you can segment and reward loyal customers. This is a great episode for business owners and marketers looking to level up their customer loyalty programs.-----------SPONSORS:This episode is brought to you by:MESAThis episode is brought to you by MESA Workflow Automation. Mesa is THE only automation platform that enables all Shopify merchants to create workflows that automatically carry out repetitive tasks and focus on their business.  TRY MESA FOR FREE OVER 14 DAYS on GetMesa.com or search for MESA on the Shopify App Store.Klaviyo This episode is brought to you by Klaviyo – a growth marketing platform that powers over 25,000 online businesses. Direct-to-Consumer brands like ColourPop, Huckberry, and Custom Ink rely on Klaviyo.Klaviyo helps you own customer experience and grow high-value customer relationships right from a shopper’s first impression through to each subsequent purchase, Klaviyo understands every single customer interaction and empowers brands to create more personalized marketing moments.Find out more on klaviyo.com/2x.  RewindThis episode is brought to you by Rewind - the #1 Backup and Recovery App for Shopify and BigCommerce stores that powers over 80,000 online businesses.Direct-to-Consumer brands like Gymshark and MVMT Watches rely on Rewind.Cloud based ecommerce platforms like Shopify and BigCommerce do not have automatic backup features. Rewind protects your store against human error, misbehaving apps, or collaborators gone bad with Automatic backups!For a free 30-day trial, Go to Rewind Backups, reach out to the Rewind team via chat or email and mention '2x ecommerce'FamousThis episode is brought to you by Famous.Famous enables brands on Shopify to easily build beautiful landing pages and product pages that include custom video, animations, and more. All pages built on famous are optimized for storytelling and selling on desktop and mobile. Famous’ software allows you to build your pages in minutes without code, so you don’t need a developer. You just need to want to build a better experience for your customers. Famous has worked in the past with many leading online retailers including Honest, Justfab and more. You can try it for free at famous.co/2x. ShipBob This episode is brought to you by ShipBob. ShipBob is an end-to-end global fulfilment provider trusted by thousands of DTC brands. With the recent launch of their first UK fulfilment centre, in London, merchants that work with ShipBob now have access to ecommerce markets in Europe as well as North America. ShipBob was ranked the #1 Fulfilment Tech Platform by AdWeek's Retail Award and enables affordable 2-day shipping. Get your products picked, packed, and shipped. Go to Shipbob.com/2x to get $500 in free shipping credits today. ★ Support this podcast ★

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