Forecasting ROI in Loyalty Programs
My latest at Chief Marketer. Its the third in the series on developing a loyalty strategy proposal. The three taken together provide a framework for addressing all of the key questions regarding a loyalty (or relationship marketing) program.
At its core, ROI isn’t that tough to figure out, but the secret sauce is estimating the impact on transaction size, frequency, and retention. There’s nowhere you can find those numbers online, since every company has a unique mix of factors that influence the values. Experienced practitioners can do that estimation for you. If they don’t ask you what your plans are for employee training as part of the program, then be skeptical about what they tell you…
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