In the Datamine Guide to Loyalty Programmes, you'll learn how how to build (or fix) a loyalty programme that delivers commercial value.
In the Datamine Guide to Loyalty Programmes, you'll learn how how to build (or fix) a loyalty programme that delivers commercial value.
A well-designed loyalty programme is a strategic asset to your business: returning tangible ROI, increasing customer lifetime value, reducing churn, creating an emotional attachment to your brand, and giving you a reliable source of valuable customer data. On the other hand, an outdated programme can be a financial drain and waste of resources.
In this guide, we'll walk you through how to build (or fix) a loyalty programme that delivers commercial value, and avoid common loyalty programme mistakes.
Interested? Please enter your details below to download a copy of the Datamine Guide to Loyalty Programmes.
Auditing your existing loyalty programme involves assessing its relevance to your brand, looking at data collected by the programme, and using KPIs like churn, redemption rates and customer lifetime value to understand its value to your business.
We look at direct costs – like software and the actual rewards – along with indirect costs such as employee time, customer service and fulfilment. Calculating ROI means looking at changes in customer behaviour and whether you can attribute them to your loyalty programme.
Designing and building a loyalty programme starts with understanding your customers, benchmarking against your competitors, and using business data to inform programme decisions.
Loyalty programmes tend to be associated with retail – but there are opportunities for other sectors, as well. We look at how finance, utility and tourism businesses could benefit from a well-designed loyalty programme.
Common loyalty programme mistakes include over-rewarding low-value customers, making rewards or incentives too small and infrequent, and having no way to measure the value of your programme.
Our loyalty optimisation framework is a structured, data-driven way to assess and revamp your loyalty programme. It involves customer segmentation and profiling, ROI analysis and creating a programme that aligns with your business goals.
How do you know whether your loyalty programme is working effectively? Complete our quick loyalty checklist to find out.
Ready for a loyalty programme revamp? Download our free guide now.
Case study: Postie+ evaluates effectiveness of their loyalty programme
How to bridge the gap between ambition and execution
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