As more brands enter the customer loyalty arena, some smaller ones inevitably find themselves “flying blind,” with little to no direction in terms of how to win, retain, and reward their most valuable customers. To provide these companies with a road map to a more effective program, loyalty agency Customer Communications Group (CCG) has developed a self-assessment questionnaire to determine where a given program stands in relation to competitors within the space.
 
The five-minute online quiz asks a series of questions intended to measure the maturity, effectiveness, and growth potential for loyalty programs across all industries and age. These questions range from simple inquiries like the age of the program, to more complex questions regarding redemption rates, customer-facing communications, variety of point earning opportunities, and ecommerce integration.
 
“In today’s loyalty landscape, the average consumer is participating in at least 13 loyalty programs, but active in less than half of them,” said Cassie Boutelle, VP of Loyalty Product Development and Strategy for FIS, a loyalty solutions provider in both the financial and retail sectors. “Knowing what drives engagement within a brand’s own consumer specific segment or industry will help a brand be more relevant and drive engagement with its own consumers. As brands better understand industry benchmarks and their own KPIs, they can focus on more actionable insights, thus leaving them better equipped to drive an exceptional CX and drive revenue.”
 
Benchmarking is a fundamental piece of any organization looking to enter the customer loyalty space, but many companies simply don’t have the resources to delve into their standing in comparison to similar programs. With this tool, these businesses have access to a quick and simple way to see how their programs stack up.

“We applaud CCG’s self-assessment tool, which will prompt brands to rethink their strategies. Today, many loyalty programs are ‘set-and-forget’ programs, hindered by legacy technology and lacking quantifiable success measurements," said Narina Sippy, CMO of Stellar Loyalty.

Besides the basic grading system, the assessment offers tips specifically targeted based on the brand’s responses. This type of automated advice may prove to be precisely the guidance needed for companies that are looking to start a program from the ground up.
 
“There’s clearly a need and an opportunity for smaller brands to jumpstart their efforts in evaluating their progress, or lack thereof,” added Phil Rubin, Founder and CEO of rDialogue. “This tool asks the right basic questions for a brand to determine how far behind it is relative to loyalty fundamentals.  That said, a five minute quiz isn’t going to give you a thorough (or necessarily correct) diagnosis any more than an MD is going to do on the basis of a five minute exam.  That said, this is a good start and should be good for smaller companies to pause and make sure they are doing at least some of the right things, including asking the right (basic) questions. Loyalty marketing is both art and science and more than anything, brands need to get past 'drive-by' program design and develop more thoughtful, differentiating and strategically appropriate loyalty strategies, not just programs.”

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