Developing an effective loyalty programme that works equally well for both the company and the customer takes a lot of careful planning and execution, according to a new ICLP white paper that explains the company's best practices for creating successful loyalty programmes.
The paper, entitled 'Creating a Successful Customer Loyalty Programme', examines the various elements that go into the creation of a viable customer loyalty programme, and works through the list of components needed to build and implement such a programme.
Learning by example
Using real-world examples, the paper shows how existing customer knowledge can be used to gain the necessary insights to build a strong loyalty scheme and maximise revenue potential from the programme.
The paper is divided into three sections, each detailing part of the overall lifecycle of a loyalty programme. The first section defines a loyalty programme, focuses on how to acquire and use key information, highlights specific do's and don'ts, and demonstrates the importance of creating both organisational and customer buy-in.
The second section provides a checklist of the key pre-requisites and explains the relevance of each step along the way. The third section offers a picture of a loyalty initiative through the example of a company that has divided its customers into four groups according to their individual needs and priorities.
According to Jason De Winne, general manager for ICLP, "Although these practices seem quite simple, in practice any loyalty programme operator not following them might not achieve internal expectations, external expectations, or both."
All of ICLP's white papers have been made available for free download from the company's web site - click here (free registration required).