- Posted by admin 02 Jul
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Loyalty Solutions Limited has been in existence for nearly 20 years, specializing in the design and management of customer loyalty programs for clients in multiple sectors, from SME’s to Telco’s to Banks and over the years we have learnt a lot about what makes a successful loyalty program implementation. We thought today to provide you with some loyalty tips to help your existing program or your planned program.
- Get your organizations buy in early: For your planned program, you’d need to get other business units to buy in early as the Retail / Marketing unit can’t do it alone – make sure the program you put forward addresses their concerns. A loyalty program will fail if only 1 unit drives it.
- Understand your program objectives: we get briefs for Loyalty Program just saying ‘I want to reward my customers’ and that’s the end of their objective. We need to ensure expectations across the enterprise are reasonable and based on the realistic possibilities of the program.
- Ensure the program communication is embedded in all organization communication material – successful programs leverage on touch points across the entire customer journey and as its an enterprise effort, all marketing material should list the program as 1 of the enterprise benefits / differentiators
- Loyalty isn’t just about Points and Discounts: programs need to develop a connection between the businesses and the customer. Let customers know their business matters and treat them as individuals.
- Make your program aspirational by using tiers: Like our bank cards, lets tier our programs to help motivate customers to do more and get more. This should also impact communication as well, how we’d communicate with an HNI should differ from others.
- Use customer transaction and demographic data: personalize and communicate with your customers by providing them with relevant information rather than a one size fits all approach. 3 days ago I got a BVN communication email from my bank advising me to ensure I register before the expiry date, funny thing is, I had registered months before, if only they had checked their data they would have saved the communication cost & not risked irritating me by treating me just as a number
- Consider a fee based program: charging customers for membership can be a powerful motivator, you would also agree that this will immediately impact your ROI but have less people participating.
- All employees must be advocates of the program: from the doorman to the CEO, all members of staff should be able to say a word or 2 about your program.
- Success Metrics Measurement: understand how your program will be measured and evaluated. Articulate the program’s KPI’s and lay out expectations complete with milestones etc.
- Lastly, Loyalty is a journey not a destination: a good program will constantly evolve and will require organizational patience. Expect that your program will last as long as your business and will be in a state of continuous improvement.
Thank you for your time in reading this, I do hope the tips are helpful.