What programs do you belong to?
If we asked you to list all of the loyalty programs you belong to, you could probably rattle off half a dozen or so. Then you might stop and list off 10 more that you joined but don't use. In reality, the exercise would be less time consuming if I asked you to list retail outlets that don't have a rewards program.
Why does everyone want you to join their loyalty program?
How do you use the data to improve sales?
As an organization that thrives on measurement and strategy, incentive programs are a gold mine. Droves of transactional data that can be worked to produce insightful nuggets of information regarding a specific group of customers that can then be leveraged to conduct relevant marketing.
Specifically, we help with questions like:
- What kinds of offers are most effective with this group of customers?
- What customers are the most valuable?
- What types of creative / messaging receives the highest response rate?
- Given my budget, which marketing efforts or mix thereof provide the best return?
- What cross-sell products are most successful with this customer segment?
- What communication schedule (frequency) is appropriate?
- etc etc..
At what point does it makes sense to engage analytics in loyalty programs?
The earlier you consult with analytics during your program / campaign design, the more successful you will be. We help clients with their customer segmentation, targeting, customer experience, and response/investment measurement and reporting.
Ultimately, we are here to improve your marketing. If you are thinking of beginning a loyalty program or would like to improve the return on the one you have, please contact us for a custom assessment.