Loyalty programs offer retailers an effective tool to foster lasting relationships with their customers. Customers see them as a positive way to connect with their favorite brands. But not all loyalty programs are created equal. Some retailers see them as a cost center, a necessary evil — or worse, as an expense liability, because the cash value represented by the loyalty currency can noticeably reduce bottom-line margin if the program’s revenue generation is lacking. This view often results in a less-than-ideal program structure, ultimately limiting the amount of engagement and ROI you can generate.
With loyalty program enhancement moving up the priority queue for many retailers, Value Exchange Optimization can serve as a guiding principle to ensure your loyalty program design delivers a revenue- and profit-generating promotional strategy and an engaging member experience that works harmoniously cross-channel.
Check out this iPaper to explore:
- If your ‘plain vanilla’ loyalty program is falling short;
- What Value Exchange Optimization looks like in practice;
- How to future-proof your loyalty program.