Loyalty Programs are critical to fostering effective Customer Engagement strategies for brands. They enable Customer acquisition, onboarding, engagement, retention, and even win back a brand’s Customers. Many strategic brand marketers have made their Loyalty Programs a key business imperative and have invested significant financial and human capital against this important endeavor. We often see many Loyalty Programs underperform or even fail because of poor Program design and planning. When designing or renovating your Loyalty Program, marketers should avoid:
This is by no means an exhaustive list, but as you can see, there is a lot to consider. If you are considering launching or revamping a Loyalty solution, try to avoid these pitfalls and learn from the mistakes of other brands. The key is to plan and include all relevant stakeholders at the strategic table early in the process. Your Program will have a much higher probability of success.