Loyalty Program Growth is a metric measuring the success of an eCommerce customer loyalty program. A customer loyalty program is a rewards program that offers incentives or gifts to customers who keep transacting with an eCommerce brand.
The data for this metric can be found in customer loyalty tools such as Smile.io.
The formula for calculating Loyalty Program Growth is finding the difference between the total number of members in your loyalty program between and the members who have left said program.
- This metric can be filtered to be tracked by time intervals (weekly, monthly, quarterly, etc.).
- In Yaguara Unsubscribe Rate can be created as a Key Result.
One of the drawbacks of the eCommerce model is that the relationship comes at the expense of the human experience. Customers have more choice, and can find better, faster products, but they don’t want to wave goodbye to the traditional experience that comes with brand loyalty and financial respect.
If your loyalty program only functions so that customers spend hefty amounts only to be rewarded with minute discounts and offers, they will be gone soon.
Tracking Loyalty Program Growth allows for your team to actually measure the impact of customers hitting their own goals, not yours. Even with a long history with your eCommerce brand, if a competitor puts a better offer on the table then the customer is going to evaluate the options.
Stray away from vanity metrics
Potential program members will gravitate towards listening to your current members more than your promotional material, so make sure to voice your stories.
Make it a game
Gamification is critical, keep your members on paths that level them up.
Use customer loyalty and helpdesk tools
Having the right tools in place can not only provide an omnichannel advantage for your team, but will make your conversations more personal with all the context you have it your disposal.
Go beyond the program
With the rise of loyalty programs in every industry, this concept is no longer a novel offering. So in order to ensure yours doesn’t appear to be nothing more than a scheme to get members to spend even more money, surprise them with continued generosity that wasn’t in the original offering.
How to Launch an Online Rewards Program via Smile.io
Build Customer Loyalty via Zendesk