A little loyalty insight for the week.
Do you really need a loyalty program?
I’ve received a few calls recently …
“Hi Adam, we are <brand> and we need a loyalty program”
Why?” I ask
While this is not an exhaustive list, some of the reasons I hear are – “to retain our valuable customers, to motivate our existing customers to purchase more often, to gain more meaningful data and insights on our customers, to acquire new customers, to add more personalisation to our marketing, a reason to communicate with our customers, to motivate our existing customers to spend more and to recognise and reward our best customers…”
…and then I ask… “what’s your most important reason?”
“…mmmm not sure, it depends on who in the leadership team you ask!”
And that’s the moment of truth!
If you really need a loyalty program, determine the reasons why and then rate their importance and rank their priority with your leadership team to gain alignment and clarity on the real reasons why.
This will answer the question … do you really need a loyalty program?