Why do loyalty programs F.A.I.L.

There are many reasons and it is the sum of the parts that make the “hole” in a program.

No matter whether you have a loyalty program or are considering one, here are four reasons held together by the one word (F.A.I.L) and always one to keep close to your head and your heart.

F = Focus
A = Alignment
I = Implementation
L = Leverage

F = Focus
Focus is about the clarity of vision and the defined objectives of the program. Knowing why you want a program and how you will measure success are clearly important. What’s often missed is … What’s the vision for your program? (in 10 words or less).

A = Alignment
Alignment should come before Focus (if it works for you then by all means – Why do loyalty programs AFIL). Alignment is what I often see go missing in the development of new programs and that is…are all the leadership team in alignment on the focus of the program, its vision and even more specifically, do all align on what “loyalty” actually means to the business?

I = Implementation
Strategy is important however, execution is where the fun really begins. Not only new program deployment, also existing program maintenance. Less needs to be said about implementation and more needs to be done!

L=Leverage
This word has many levers (oh dear) and the ones worth noting are – data to insights to action; team loving the program, reporting the results regularly, revamp and re-energise the program. There are more, however leverage is quite simply ensuring the program lives everyday to leave a legacy. Do you think your program will be remembered and if so for what?

I hope you find this insight useful and if you are interested to dig deeper into the 24 ingredients that make a loyalty program structure successful, then the full 80+ page report of ‘for love or money 2016’ is available to get into the details.

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