How can I assess the effectiveness of my loyalty program?
Successful loyalty programs adapt and evolve. It’s crucial to evaluate your program to determine where it is performing well and where it needs to improve. Built on a series of intuitive dashboards, the SessionM Insights reporting & analysis tool enables you to understand program performance by measuring key performance indicators such as customer spend and customer frequency.
Using Insights, you can analyze your loyalty program. Insights provides interactive visualizations that can generate insights regarding program performance and inform future actions.
For example, the Summary dashboard provides interactive visualizations that track revenue generated by different membership tiers and other powerful metrics. For example, the visualization below tracks average order value, average revenue per user and transaction frequency for each loyalty tier.
As another example, the Incentives tab provides a detailed breakdown of total points by current loyalty tier. Performance for each tier can be analyzed with the points status counts. Lower-performing tiers can be further analyzed and improved. For example, you can quickly answer the question: Are most of the points for tier X being redeemed before expiration?
SeeAbout Insights for more information.