The 10 key questions to ask yourself before creating a Loyalty Program in 2019.
Revamping or creating a Loyalty Program is not the question to ask anymore. Millennials will represent 75% of the world’s population within 2 years and 55% of consumers think that all Loyalty Programs are the same. A New Loyalty Program must be adapted to new emerging consumer profiles and fully integrate mobile and digital.
Loyal customers represent a large part of a brand’s revenue. While increasing loyalty by just 5%, a company’s profits grow on average between 25% and 55%. Here are 10 key questions you should consider before creating a Loyalty Program in 2019.
Marketing, Sales, Communication, Digital, E-commerce, In-store teams… a Loyalty Program should be the result of a team effort with 3 clear objectives for everyone: 1. retain customers, 2. increase sales, 3. recoup marketing investments.
#Question1: What can a Loyalty Program do for me?
#Question2: How should I structure my Loyalty Program?
#Question3: What to consider when creating a loyalty scheme?
#Question4: What behaviors should be rewarded?
#Question5: How to reward the desired behaviors?
#Question6: How to create a category-leading Loyalty Program?
#Question7: How to check if the Program is financially sound?
#Question8: How to assess the Program’s effectiveness?
#Question9: How to bring the Program to life?
#Question10: How to embed the scheme within the organization?
Splio has developed two guides to help you on your journey to New Loyalty: a Loyalty Guide to understand the trends, best practices and strategy to rethink loyalty and a Loyalty Toolkit to learn how to design a program that attracts and retains customers, generates more revenue and delivers loyalty as the outcome.
Our teams are also available to give you a demo of the Splio Loyalty Marketing Platform.
To get regular insights on how to develop and strengthen your Loyalty strategy in China, scan the QR code to follow us on WeChat!