About the Workshop
The effective use of development and retention strategies by any organization could potentially have double impact on your profitability with very limited effort. Designing and implementing effective loyalty programs is one of the activities used by organizations to increase customer share of wallet and life span.
While having a loyalty program may be useful and trendy if not done right could have an adverse impact on your organization. There is evidence that a large number of loyalty programs fail to get the appeal of the customers or fail to deliver the business benefits.
Doing it right the first time requires a number of tools starting with competency of the loyalty managers, the correct strategy, correct loyalty logic, correct tools, appealing rewards and incentives, effective communication platform with members and so on. In addition to these issues you have to worry about Data protection laws and civil suits but consumers and so.
This interactive two-day workshop will help you safe huge cost resulting from doing it wrong or simply copying wrong models of loyalty programs or adopting good programs that do not fit your business. This course delivers to you the tools and best practices to design and implement a best-in-class solution for your organization.
By end of this workshop you will be able to learn how to:
1. List criterion for management decisions to approve or review a customer loyalty program.
2. List the customer loyalty strategies and how to assess the suitability to your business and strategic plan.
3. Select a range of loyalty logics and conduct cost benefit analysis for each logic and the support structure required to implement each loyalty logic.
4. Incorporate the brand essence and values and customer experience in designing and implementing loyalty programs.
5. Incorporate the user requirement in loyalty programs through VOC management and co-creation.
6. List of tools to effectively manage, communicate and redeem customer loyalty programs.
7. Measure the ROI or effectiveness of Loyalty programs for your organization.