Go Back Buyer's Guide to Enterprise Loyalty

Talking About Loyalty in Your Business

Learn how to properly conduct discussions about a loyalty program investment within your organization, including key quantitative and qualitative success metrics.

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refer
Go Back Buyer's Guide to Enterprise Loyalty
It's Time to Invest in Loyalty The Driving Force Behind Retention
Conduct Internal Research Define Business Objectives
Vendor Criteria & Considerations Loyalty Landscape: Types of Providers The Right Provider for Your Business
Talking About Loyalty in Your Business Stakeholder Management & Implementation Timelines Risks & Objection Handling

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Loyalty programs have evolved beyond standard point accrual. Well-executed programs encourage connections between your business and its customers, rather than connections between your customers and their reward points. The emotional component of loyalty is now table stakes.

Focus on the outcomes

Emphasizing the importance of emotional loyalty starts with internal discussions. Lay the groundwork by stressing your loyalty program’s capability to build long-term relationships between your brand and your customers. As you begin the conversation, focus on the critical loyalty success metrics for your business:

Consider how the goals you set against these metrics will help your business build emotional loyalty. Set expectations across the organization that the loyalty program will improve both quantitative and qualitative key performance indicators.

Quantitative KPIs include:

  • Increased sales
  • Reduced churn
  • Increased cart sizes
  • Increased repeat sales
  • Increased engagement

Qualitative KPIs include:

  • Increased satisfaction
  • Stronger brand awareness
  • Competitive edge

Keep in mind that successful loyalty programs use simple logic, are easy to join, incentivize engagement, provide a variety of relevant rewards, and delight loyalty members.