How often should you update your loyalty program?
Your loyalty program should be updated when the current system isn’t working, or if you think the current system could perform better. Here are three things you could try to give your loyalty program an update:
But first, in order to see if your program needs updating, you should take a careful look at the results of the loyalty program and which customers are engaging with it. Look at the metrics you’re using to have a clearer understanding and consider whether your loyalty program adds real value.
If a majority of your customers are using the program and seemingly happy with it, there might not be any reason to update it.
However, if you believe there are things you could be doing differently, or notice other loyalty programs utilising techniques you haven’t tried, it could be time to update your program. You could do this by changing what you offer or adding new features.
For some people, the offers they presented at the beginning of their loyalty program are no longer useful or needed by the customer.
Often outdated loyalty programs mean customers are receiving rewards they don’t want or need. This leads to disengagement with the loyalty program which leads to disengagement with your brand.
One way to combat this is to revamp your offers.
You might find that people aren’t referring their friends as much as you’d like them to. In this case, you should consider making it easier for them to refer their friends, or simply offering a better incentive by perhaps offering more points.
Your loyalty program might be optimised perfectly and be performing just how you want it to. Although, his doesn’t mean you can’t add a bit of excitement into the program too.
One way to do this, without changing the fundamentals of your program is to add alterations that suit holiday seasons.
This is a great way to encourage those who aren’t as on board with the loyalty program to join in. It also provides those who are already fully on board more opportunities to win points or rewards.
Christmas, Easter, Valentine’s day and Halloween are great examples of when you can alter your loyalty program to add some excitement.
For some people, their loyalty program might be working well, but they perhaps have a new product they want to push. In this scenario, you can use your loyalty program to being working on an entirely new drip campaign.
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