The 10 key questions to ask yourself before creating a Loyalty Program in 2019.
Revamping or creating a Loyalty Program is not the question to ask anymore. Millennials will represent 75% of the world’s population within 2 years and 55% of consumers think that all Loyalty Programs are the same. A New Loyalty Program must be adapted to new emerging consumer profiles and fully integrate mobile and digital.
Loyal customers represent a large part of a brand’s revenue. While increasing loyalty by just 5%, a company’s profits grow on average between 25% and 55%. Here are 10 key questions you should consider before creating a Loyalty Program in 2019.
Marketing, Sales, Communication, Digital, E-commerce, In-store teams… a Loyalty Program should be the result of a team effort with 3 clear objectives for everyone: 1. retain customers, 2. increase sales, 3. recoup marketing investments.
#Question1: What can a Loyalty Program do for me?
#Question2: How should I structure my Loyalty Program?
#Question3: What to consider when creating a loyalty scheme?
#Question4: What behaviors should be rewarded?
#Question5: How to reward the desired behaviors?
#Question6: How to create a category-leading Loyalty Program?
#Question7: How to check if the Program is financially sound?
#Question8: How to assess the Program’s effectiveness?
#Question9: How to bring the Program to life?
#Question10: How to embed the scheme within the organization?
Splio has developed two guides to help you on your journey to New Loyalty: a Loyalty Guide to understand the trends, best practices and strategy to rethink loyalty and a Loyalty Toolkit to learn how to design a program that attracts and retains customers, generates more revenue and delivers loyalty as the outcome.
Our teams are also available to give you a demo of the Splio Loyalty Marketing Platform.