Five Fundamentals: How Much Budget Will a New Loyalty Program Require?
Our recent global survey of consumers in North America, the UK and Asia found that the vast majority (80%) belong to 5 or fewer loyalty programs. Faced with changing consumer expectations and shrinking budgets, loyalty managers find it increasingly complex and challenging to design, manage and implement loyalty programs. It may take a whole new “loyalty reset” to drive better results and prepare their brand for the future.
Whether resetting an existing program or starting from scratch, the first step for loyalty program managers is to know what they need and how much budget the design and implementation of a program actually requires. Here are our “five fundamentals” for starting a loyalty program.