HOW DO I RECOGNIZE THAT MY CUSTOMER LOYALTY PROGRAM NEEDS TO BE REVISED?
I get asked this question a lot – my answer is:
👉 Check the program goals first: Do they still align with your organization’s goals and priorities? Last week, a client explained to me that they had launched a major initiative to strengthen their own brands… to which I wondered why their loyalty program didn’t reflect this at all!
👉 Secondly, take a close look at KPI performance. Your program is loved by your top customers, but the penetration in total sales is at 55%? Then you need to remember that your data only reflects this particular sub-segment and is only suitable for making decisions about your top customers!
If you want to use insights from the hashtag #customer data company-wide, you need to adapt your program so that other target groups can also benefit from it.
Do you need a checklist of common program KPIs? Then get in touch with me.
👉 Thirdly: Observe what your competitors are doing. Is there something exciting that is slowly undermining the success of your program? Sometimes it’s just your competitor’s latest promotion that encourages your customers to experiment.
So has your #loyalty program passed this first test? If so, great, but there’s more to come 😅 !
#weloveloyalty #welovedata
