As noted in Loyalty Measurement: C-Suite Needs a Balanced Scorecard, executives need a balanced presentation of results to gauge program performance. Loyalty Sentiment is one of the three elements of the LoyaltyLevers Balanced Scorecard, with measurement of the appeal of Loyalty Program Benefits and Member Affinity. These key indicators gauge the equity you are building with positive Loyalty Sentiment and Emotional Loyalty. This article dives deeper into measuring Loyalty Sentiment.
As noted in Loyalty Measurement: C-Suite Needs a Balanced Scorecard, executives need a balanced presentation of results to gauge program performance. As part of that, loyalty practitioners must measure and optimize the incremental impact of their programs. LoyaltyLevers Balanced Scorecard provides a unique solution to the challenge of causality. This article goes deeper into measuring Behavior changes and translating that into an estimate of incremental margin attributable to the program.
Ask your loyalty program owner to report out on their program results, and you might hear answers like “It’s hard to measure ROI”, “Redemptions are improving” or “Total revenue is up!”. This article is written especially for the busy CEO, CFO or CMO who wants a reliable yardstick, and it outlines the LoyaltyLevers Balanced Scorecard which provides a unique solution to measurement and optimization.
Surprise and Delight is a well-established component to great brand experiences and loyalty programs, harnessing the Decision Affect theory that unexpected outcomes have a greater impact than expected outcomes. Though best suited to service oriented businesses, others have found ways to side-step the challenges of scaling this approach, succeeding brilliantly in deepening emotional connections with their customers.
Have no doubt, this is a moment of opportunity for loyalty programs. Data privacy laws continue to tighten, which only increases the importance of first party, permission-based data. Consumers know the importance of their information, and loyalty programs can provide an important value exchange for the permission to use it. Presto -- loyalty programs are now becoming THE foundation to all data driven marketing, quite a turnaround for what brand marketers once viewed as a promotional side hustle.