Customer Loyalty Program Health Check
Even the best and most effective customer loyalty programs need to be monitored and assessed on a regular basis to ensure they are operating at peak effectiveness.
As customers' needs and desires change, so too must your customer reward program if you are to continue to succeed.
The Genroe Customer Loyalty Program Health Check is a 5 step process that will ensure that you:
- Maximise the customer loyalty value lift
- Minimise the cost and resources required to obtain that lift
Health Check Steps
Step 1: Initial Systems Check
In this step we will review your program against best practice performance metrics and provide you with a scorecard so you can see where your rate.
At the end of this step you will have a clear view of how your program performs versus industry averages.
Step 2: Checking Customer Lifetime Value impact
Confirming the impact your program has on areas such as customer retention, average margin and, most importantly customer lifetime value is the next phase of the health check.
At the end of this stage you will know if your program is delivering net value to your organisation.
Step 3: Customer Behaviour Tuning
Poorly tuned customer loyalty programs cost you money by spending too much on rewarding the 'wrong' behaviours.
In this step we review your program to ensure that membership tiers and thresholds still reward the right behaviour.
This will drive up overall Return on Investment for your program.
Step 4: Is it Still Attractive to Customers
To drive maximum value your program must continue to be attractive and relevant to your customers.
Completing this step ensures that your program is still desired by your customers.
Step 5: Program Engagement
The final step in the health check is to examine the overall engagement created by your loyalty program. Are customers actively accumulating and spending your currency, joining in your facebook discussions, redeeming a mix of your rewards (versus cash back), etc?
After measuring and understanding customer engagement we will provide you with concrete recommendations on how to improve it.
More Information
Contact Us
Genroe are an experienced, independent, customer loyalty management firm.
Contact us now for a chat about a Customer Loyalty Program Health Check.
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