I am driven by the deep desire to find a best-practice framework for designing and deploying valuable loyalty and rewards programs.
I believe that 'valuable' is an outcome that every program must achieve based on balancing the two tensions of:
- Profitable to the business
- Meaningful to the member
To achieve these two outcomes, I have finally developed a methodology - wrapped up in a two-helix DNA.
The DNA of a valuable loyalty and rewards program (free to download here) is structured and balanced by a four stage process and 19 elements.
- Align: Creates clarity on what loyalty is, whether a program achieves that 'loyalty' outcome to then create leadership commitment and a vision of success.
- Define: Is all about the formulation of measures of success and a deep focus on all the audiences who may (may not) care about being a member of the program.
- Design: Is where the DNA of the program structure, benefits and experience is formulated to become unique, distinctive and different (just like your DNA!!). A financial model for the program is an outcome of this stage.
- Deploy: Is the detail of implementation - from on-boarding to ongoing with extra emphasis on creating team commitment.
This methodology has been developed with insights gained from commissioning and authoring seven research studies (For Love or Money), a small book I researched and wrote on loyalty programs back in 2008 (10 years ago!!) - 'Give back to get back' and numerous client consulting and program implementations over those years.
It has been and still is, an ongoing process of refinement and the details behind each stage and every element are updated as the world of programs change.
You are welcome to download the complimentary copy of the 'DNA of a valuable loyalty and rewards program' and use it as a framework as you consider your future loyalty and rewards program success.
Have a happy loyalty day!