Best KPI’s to measure your loyalty program success

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Loyalty KPI dashboard

Best KPI’s to measure your loyalty program success

In today’s data-driven marketplace, digital technologies make it easy to capture reams of data.
However, we can sometimes get overwhelmed by stats, analytics and data and not understand what the data is actually saying.
 
Customer Loyalty Analytics can give you deep insights about your customers shopping behaviours and preferences.
 
A better understanding of your target audiences is key to any business strategy and can benefit brand awareness, sales, average spend market share, customer loyalty and customer retention.
 
Azpiral recently launched a new KPI dashboard as part of our Loyalty platform, AzpiralPRO.
 
Following this, today’s blog post highlights the best KPI’s (key performance indicators) to ensure your loyalty strategy and program is working to its full potential.
 
Customer share (aka wallet share) and profitability contribution are top measures of customer loyalty. Read more on the KPI dashboard https://www.azpiral.com/kpi-dashboard/
 
Whether you monitor your customer loyalty analytics daily, weekly or monthly, here are some of the best KPI’s to monitor your Loyalty programs progress.
 
Customer performance
Registered customers
 
Active registered customers
 
Repeat customers
 
Defecting customers
 
Sales performance
Points earned and redeemed
 
Average transaction spend
 
Visit frequency
 
Promotion performance
Points earned and redeemed
 
Offers redeemed
 
Rewards redeemed
 
Key performance indicators should be noted both pre- and post-loyalty program participation to show your customer loyalty progress.
 
As well as this to get a clearer view KPI’s like repeat visits, incremental sales, average transaction spend per visit and customer retention should be compared by loyalty members and non-loyalty participants.It is also important to note seasonal variables that may impact spend in store for instance holidays, promotions, weather variances.
 
Use your data to optimise your loyalty strategy by testing promotions and communications, refining your audiences and review regularly.

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