Is a loyalty program right for your business?

Like any marketing strategy, loyalty programs have a place and an ideal environment in which they should be deployed and managed. So, it is important for firms to undertake a detailed diagnostic assessment to see whether a loyalty program is the best marketing strategy for their product or service, as opposed to rushing to set up a program in the hope that it will solve all your business challenges. 

Here are 3 reasons why a loyalty program may not be right for your product or industry:

In today’s markets company success seems to depend increasingly on the capabilities of their business partners. The proliferation of online courses and just-in-time knowledge available through mobile is prompting organizations to pay attention to innovative modes of instruction. Yet, we often see that too many enablement programs focus on the wrong content. When we point this out to clients, we invariably get asked the question ‘But how can we design programs that link to our strategic channel priorities?’ Here’s input for starting that very strategic conversation.

In today’s markets, your company’s success depends hugely on the motivation and abilities of your business partners. Willingness is often fuelled by elaborate incentive structures, but ability is a different cookie. More and more firms are experimenting with online modules across multiple (mobile) platforms, so there are ample and innovative opportunities to work on your business partners’ tech, marketing and sales skills. Yet, we often see that the message cannot keep up with the medium. In other words, content is offered that is out of line or, at best, loosely coupled to strategic channel objectives.

Follow our 5 step process: