Most loyalty program operators live with sub-par customer survey scores. When it comes to the customer experience, most loyalty program operators acknowledge they have a problem. The challenge is how to improve the customer experience and customer satisfaction scores while minimising the cost of the fulfilment.
Naturally, understanding the relationship between issuing points or rewards and the fulfilment is essential. A good practice is to have a well-established policy before any incentive is issued. It is essential to understand that, with any incentive offered on the promise of a future benefit, there is a liability. The liability needs to be understood and managed. Budgeting and planning around the issuing and corresponding liability is good business practice.
I have worked with businesses that have endeavoured to offset the liabilities through access to the data they derive from their programs. While a somewhat successful practice in the past, businesses need to be planning today for this model to come under more scrutiny. More and more, customers are aware that their data is being shared or sold. Today, this is one of the single biggest factors in the lower customer satisfaction scores.
I have undertaken extensive research to develop and determine ways that loyalty operators can overcome the obstacles and costs associated with their program. There are pathways and strategies for improving the customer experience without escalating costs.
Contact me, if you’d like to learn more.