How to Measure the Efficacy of Your Loyalty Software


Getting started with any Loyalty Software is easy - you register, sign-up, input loyalty settings and get your customers on-board. But how do you know that your customer loyalty solution is actually achieving the goals it is supposed to? While determining the efficiency of your customer loyalty program here are three parameters you should be giving due attention to:

Sign-up Rate
The number of people enrolling for your customer loyalty rewards program should register a healthy, and more importantly, consistent growth. After a few months, you should be a position to predict the average number of people who’d be added to the network, and be able to devise strategies and promotions accordingly.

Frequency of Engagement
How often do your loyal customers redeem their points? Do they choose to redeem them only when they are reminded to do so? Or do they keep a track themselves? If the frequency with which your customers engage with the loyalty program is low, something is naturally amiss. Find out the problem, and fix it before it starts eroding business value.

Average Bill Size
Your customers must not only visit more, but should also be purchasing new products and services on offer, and as a result, increasing their average bill size. The goal of any customer rewards program should be to encourage the shopper to try things they otherwise wouldn’t go for, by subsidizing the first purchase with offers and discounts.

All these and many more factors directly impact how much business value returning customers bring, and how sustainable the business growth will be. If used correctly, intelligent and intuitive Loyalty Software can do wonders for your business. Loyera is one such web-based loyalty solution that can help supercharge your business. Get ready for the future with Loyera today.



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