Yeah definitely – I think this is where we’re leaning for one of the Tiers
This is one of my favorite subs on Reddit in regards to knockoffs: https://www.reddit.com/r/crappyoffbrands/
I do like this!
Yes, great points. I’ve been meaning to post a more succinct rewards program idea now that we’ve had some time to digest a lot of your ideas.
You’re right, Delta has the luxury in that people are always going to travel (aside from this year) and they can reduce your level every year and make you re-earn it (whereas your miles do not expire). Initially, we were going to emulate something like that, but decided that instead, your level will never expire nor will your points. Even if you spend all your points on whatever, you will maintain your level.
It will work exactly as you put in that each $ is worth x amount of points and you can either redeem those points for whatever smart home product you want or if you don’t have enough points, you can exchange them for $'s off your order. I’m a huge fan of Chase Points and love using their point system in exchange for either $'s off Amazon orders, travel, hotels, etc.
Definitely, this is what we see in our data too – you’re not alone my friend!
The pricing will be better on our website as we have some margin to give back to everyone
Yeah I can’t stand this. It’s a huge turn-off – as soon as I catch wind of this on Amazon reviews, it loses all credibility. Also when companies violate Amazon’s TOS and put inserts in the box that says, “Get $x for leaving us a review” – but of course, if you leave a 1-star, you do not qualify.
Excellent idea – we were thinking similarly in that people in the community would have whatever badge associated with their name so that people can see it and also people that may not be aware of the Rewards Program may be introduced to it by wondering what the little emblem is next to someone’s name. I like the, “street cred” idea + swag!
Opens a Monster… let’s do this.
Correct – off to a good start, I’m tracking!
You should be in marketing – this is the stuff I love doing! I do agree with the opening paragraph as that is typically the path to Z-Wave and/or us. This will change in 2021 in that we’ll be opening up to the mass market via ZigBee (CHIP). But for now, you’re good with your assumptions (they’re a bit low as we do plan on selling bulbs, remotes, and other auxiliary products outside of our core competency, but for the sake of this exercise, your logic is spot on.
It actually revolves around three areas (hopefully we can have our cake and eat it too):
- Brand Loyalty
- Education
- Engagement
Brand Loyalty in that we increase word of mouth marking and a raving fan base as you mention, but also hopefully to capture some people who may be considering other options. Right now, we have an advantage in that we’re fairly active on Reddit (I know it’s a small base, but we’re playing the long game with SEO here) and typically we’re recommended by smart home owners. The loyalty program adds another layer to people’s recommendation (Inovelli’s awesome AND they have a cool rewards program). No other brand to my knowledge in the smart home industry has a loyalty program, but I also haven’t done a ton of research.
Education in that we’re rewarding people for doing what they should be doing anyway… reading the directions lol. There will be a set of tasks you can complete that will help you with installation and getting your product setup the way you want, which will hopefully cut down on customer service tickets.
Engagement in that we want people to engage and be directed to the community as you all collectively have more experience than we do in different areas and it’s hard sometimes for us to keep up on every platform. We’re also a small company (for now) and it’s hard to keep on top of tickets sometimes, so it’s nice when we can push this to the community and reward those who are engaged and helpful.
Yes, spot on. We decided to make it so you keep your Tier status regardless of if you spend your points. I completely agree here as there’s a cap. Once you’re done with your house, you’re spending goes down unless there’s an innovative product that comes out.
I’ll have to read more about the Tesla program as I’m not too familiar with it, but it sounds interesting.
Interesting… I guess the way we approached this was that we built this into our margins and adding in an estimated redemption rate, we should have some way to calculate future sales. I realize it’s somewhat of a pain, but also, this would negate some of the traditional marketing expenses. I do agree that having it to where points do not expire may cause some issues in the future, but I suppose that’s where the line, “subject to change” comes into play lol.
Yeah, we’re tracking here
I do like this – I think this would discourage the MLM type affiliate links everyone is referencing. People are more apt to give out to people they like.
Love it. This is essentially what we were thinking as well. More to come!
We were thinking something like, “the next project is named after you and you get the first one off the production line” but we’re in the same camp in terms of Limited Edition Loot.
I like this – keeping things fresh and people engaged. Really good idea!
Haha – I sincerely appreciate you taking the time out to do this. It’s extremely helpful and I want it to be something we all build together. As for the resellers, we will likely make that more of a Phase 2 as they’re already getting a decent discount and from what we can tell, most really only care about price lol. But, there could be something around a training program = more money off or something.
I’ll update the post above to reflect more of where we’re at currently and thanks all for your inputs, it’s awesome working with you all!