It’s been a busy year or so in loyalty program land (my view as a focus group of one).
I am experiencing some intense energy and activity from loyalty programs but sadly also some laziness and tiredness.
It’s easy to let a loyalty program drift off into the sea of sameness and we can just let it go by or we can get off the couch and “do something”! Thank you - John Kennedy Snr
Some actions to take.
- Be bold, be brave and ask your leadership team – do they still care about the program?
- Are they committed to the program as business growth asset? If not, why not?
- Review the loyalty program landscape.
- A direct and indirect competitor review. This might also help (For Love or MoneyTM 2021)
- Define a program vision.
- If you don’t already have an inspiring vision for your program, create one.
- Make sure it leverages the brand vision and brand essence.
- Go deeper on sanity metrics.
- Start with return on loyalty program investment.
- Look at the inputs impacting the program ROI. Which levers impact the incremental revenue and where are the opportunities to grow? What are the inputs influencing the costs and where are the opportunities to streamline?
- Get in touch with your top members.
- Invite your top 10/50/100/<?> to something special, unique and surprising.
- Refresh the program proposition.
- A data cleanse is a wise place to start.
- Test and learn.
- Open your mind to more test and learn campaigns and add a sprinkle of patience as it takes time. See what works, what doesn’t. Keep a control group.
- Enthuse your team.
- Ask your team for ideas on how to turn a tired program into a vibrant one.
- Technology partners have many ideas.
- Ask them for their ideas.
If you feel your program is a little tired (and a bit lazy) and you have the desire to get it active, healthy, wealthy and wise, don’t hope, do something!
Have a happy loyalty day!