Customer loyalty: How to measure ROI and beyond

And now we ask ourselves how we can keep an eye on fidelity cards precisely by wanting to consider this very important aspect, given the possible future scenarios and the major growth there will be.
We can answer this question by starting with a table that we want to read together...
Here it is...

Table of Contents

roi

In this interview, done with all those B2B and B2C operators, as seen above, it appears that 95 percent of respondents say that loyalty programs definitely lead to growth, a trivial answer but a plebiscite in any case;

On the other hand, in 60 percent of cases it is stated that, those who are targeted by loyalty programs actually spend 2 to 3 times more than the purchases defined as normal relative to average spending.

The smallest cluster and in each case measured at 23 percent, states that purchases by customers subject to loyalty programs amount to at least 4 times the normal spending factor.

So let’s focus on this data and see that, exponentially, if we have a major, structured loyalty program in place that represents a real interaction with its users/customers, that really hooks its users/customers and makes them feel like they are the center of attention, that really makes them interact with our organization/business, all of which, we know leads to growth that cannot be found otherwise and therefore validates directing investments on these kinds of tools.

Compared to the companies surveyed only ¼ are assumed to be in line with this type of activity (and we are talking about major companies) and in any case it is extremely difficult to measure such phenomena,

this does not mean that we should not go in this direction, and for this reason it is right for every entrepreneur to ask three main questions:

key facts per ROI su loyalty programs

Am I investing the right amount to keep up with the market?

(because we know that digitization will increasingly lead in that direction, and because we know that digitization will increasingly lead toward large marketplaces)

So the only alternative for not being either encompassed by the big marketplaces or not being destroyed by the market is to be able to be able to retain one’s customers and be able to keep them in a stable way rather than to increase customers slowly to prescinder since, if we do not have the ability to retain him, he will always be an unfaithful customer.

So going back to the first question, which is whether I am investing the right amount to keep up with the market and am planning to put up proper barricades, all of which is necessary to counter a shock wave that with increasing intensity will try to erode our business.

interrogativo
interrogativo

Am I using the correct and up-to-date tools?

It is clear that the more we move forward, the more the tools modernize, use new features … and the more they modernize and extend, the more they will be able to capture both the attentions and especially the actions of our customers.

Clearly, in order to do this I have to answer question number 1 and number 2 very well first, as there are so many tools.

In itself, however, the loyalty card is a tool, only very few represent true “anchors” that can keep even large vessels, i.e., the “anchor tools” that can keep customers still.

The bulk of it, however, is outdated tools (the loyalty card itself is) that no longer bring us any added value, and so we come to a new question…

Am I investing in a targeted way, or am I distributing my resources across the board? What does it mean?

It means what we have said before, which is that if I only have the classic/traditional loyalty card I have a tool that everyone has and that brings me no added value if we have not firmly hooked behind it a program of real interaction with our customer.

interrogativo

This reasoning leads us to a useful next question viz:

If I don’t have benchmarks, how can I tell if the amount of investment that I as an entrepreneur am putting in is in line, or not? And whether there are benchmarks against which, again me as an entrepreneur, I can measure myself.

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