How to measure the success of your loyalty program?
How to be sure that your loyalty program still meets your members’ expectations as well as yours?
Here are 8 performance indicators to follow every day and that will help you:
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Monitor the performance of your loyalty program
Detect the adjustments you need to settle to meet your loyal customers’ expectations
Build an engaging, long-lasting and profitable relationship
Measure the attractiveness of your program.
Membership rate
Attrition rate
A strong membership rate reveals an engaging communication around your loyalty program that is able to recruit new members.
A low attrition rate demonstrates that your loyalty program is keeping its promise and is engaging members over time.
Number of program’s members
Total number of customers
100
Number of lost customers
Total number of members over the period
100
Measure the efficiency of your investments.
Acquisition cost
Total amount invested in the acquisition campaign
Number of new members registered to the loyalty program thanks to these actions
Average amount of sales
Average number of sales
Customer lifetime value
The acquisition cost of a new member in your program gives you indications on the efficiency and the ROI of each action you have driven. The goal is obviously to have a ROI higher than the acquisition cost
The customer lifetime value gives you an estimation of the amount your customers can make you earn. That will give you the opportunity to determine the amount you can invest to retain them, while staying profitable.
Average length of the customer relation
Measure the profitability of your program.
Average cart
Total revenue over the period
Total number of orders
Addition of the amounts of all orders over the period
Revenue
By opposing the average cart of a member and the average cart of a non-member, you will quickly be able to know if your program is a vector of additional sales.
The more the part of revenue made by loyal members is high, the more their average cart is high, and the more the profitability of your program will be confirmed.
Measure the efficiency of your marketing actions.
Repeat purchase rate
Number of customers that have made at least 2 purchases over the period
Total number of customers over the same period
100
Total number of orders over the period
Number of unique customers over the same period
Frequency
The repeat purchase rate indicates the % of your customers that at least made 2 purchases over a given period. If this rate is higher among your members, that means they are enthusiastic about the idea of climbing the tiers of your program to benefit from more advantages.
The purchase frequency expresses the average number of purchases made over a period. With a higher frequency among your members, you can affirm that the sales promotion linked to your program is being successful.
You are ready to evaluate your loyalty program!
Splio is a New Loyalty Marketing platform that enables brands from retail, e-commerce and food services to acquire, engage and retain customers on & offline.
La transmission de vos données à la société Splio (SAS, situé au 27 Bd des Italiens, 75002 Paris, France, RCS Paris 434 533 071) permet de répondre à votre demande d’accès à notre expérience. Les données sont destinées à la direction commerciale et marketing de Splio; elles sont conservées pendant la durée nécessaire pour répondre à votre demande et ne sont pas transférées à des tiers. La base juridique du traitement est l'intérêt légitime. Conformément à la loi n° 78-17 du 06/01/1978 modifiée, relative à l’informatique, aux fichiers et libertés, et au Règlement (UE) 2016/679, vous disposez d’un droit d’accès, de rectification, de suppression, de limitation, d’opposition et de portabilité quant à vos données en adressant votre demande à privacy@splio.com. Splio a désigné un DPO. Plus de détails sur vos droits sur notre Politique de Protection des données & cookies.