Step 1: Talk to the experts
Experts are
teams that have already implemented customer loyalty schemes, but most
importantly have a thorough understanding of both the marketing and technology
side of things.
Especially
teams with diversity (marketing executives, software developers, business
consultants) who will listen to your teams’ requirements and who will have a 360view of your needs.
Step 2: Construct a business plan
Drafting a business
plan is the most important step for any marketing action you undertake.
This will especially save you precious time and money in the future.
Invest time
and people in constructing a complete, solid business plan for your customer
loyalty scheme in order to achieve the ideal
return on investment and the highest incremental sales.
Ideally, consult
a team of customer loyalty experts to create your own loyalty scheme vision,
your quantitative and qualitative loyalty scheme targets, to identify and
construct a loyalty model that best suits your company’s needs and to compare
your own loyalty scheme with the industry’s existing schemes to achieve the
best results.
Step 3:
Calculate your project’s R.O.I., its payback period and compare
Being able
to have a clear view of the project payback period as well as the return on the
total investment, is a critical “go” or “no go” factor for your loyalty
business plan.
Success factors
such as the average basket value, the visits frequency and how to reward the
most loyal group of customers are just a few of the indicators that need to be
quantified.
Let us know what you are looking for! Contact our team here.
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