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The Convenience Retail Loyalty Playbook – Chapter 11: How To Effectively Analyse Your Loyalty Program

Paula Thomas, Chief Content Officer, Liquid Barcodes

02/15/2020

The Convenience Retail Loyalty Playbook has been written to help retailers using our loyalty platform to get the best possible results from their loyalty program. Summarizing chapter 11, this video explains our top ten tips to effectively analysing your convenience retail loyalty program. 

connection cycle

Interested in reading more? Check out the loyalty playbook’s chapters below: 

Chapter 1: Introduction 
Chapter 7: In-Store Excellence 
Chapter 2: Customer Connection Cycle
Chapter 8: Rewarding With Stamps 
Chapter 3: How to Wow (Part 1 & Part 2
Chapter 9: Rewarding With Points
Chapter 4: Recruiting Members 
Chapter 10: Success with Subscriptions 
Chapter 5: Engaging Your Members 
Chapter 11: How to Effectively Analyse Your Loyalty Program
Chapter 6: Powerful Promotions 
Chapter 12: Operating Your Loyalty Program Successfully 

Convenience Retail Loyalty Playbook

We love to share our knowledge! Explore the full Convenience Retail Loyalty Playbook by downloading it here 

Effectively Analyse Your Loyalty Program

Given the level of time, money and attention that your loyalty programme will ‘enjoy’ both internally and externally, it’s critical to constantly assess how it’s performing. Our extensive experience has given us a clear idea of what KPI’s to monitor from a commercial perspective, to ensure your team are proud of the project and its performance over time.

performance

Top Ten Tips to Effectively Analyse Your Loyalty Programme

  1. Measure, Monitor and Learn. Daily, weekly, monthly, quarterly and annually. There is no such thing as too much reporting – of course by the right people, to the right people, and for the right reason! We recommend at a minimum that key programme indicators are shared with your management team each week.
  2. Closely Monitor Membership: Keep a close eye on how many new members are being recruited at store level every 30 days, and how their total member base is tracking. You can’t have an effective loyalty programme until you have recruited a sizeable base that represents a significant percentage of your customers.
  3. Define and Monitor Engagement: In our industry, we recommend monitoring what percentage of your user base has been active in the most recent quarter. It is therefore useful to analyse and report the average number of active app sessions in the last ninety days.
  4. NPS Analysis: We recommend that you capture and monitor your “net promoter score” across demographic (age and gender) and by segments such as students. We know that companies that suffer from low “net promoter” scores are likely to lose market share as soon as customers find attractive alternatives, so make sure to closely analyse your scores and ensure they are representative of your customer base too.

promote your storeAre your customers happy to promote your store? If not, why not?

5. Loyalty Share: It’s important to set targets for the percentage of your transactions that should come from “known customers” – so simply, what percentage of total transactions come from members versus anonymous customers. Clearly this figure should grow over time, and our customer excellence team can help set expectations around realistic, and stretch, targets to set internally for the first quarter, first year etc.
6. Compare Basket Spend by Segment: It’s insightful for your senior management team to have an understanding of the average basket size (spend) for your members versus non-members. While the inevitably higher values can’t be fully attributed to your programme, it does provide a great understanding of the potential growth available for your stores with the existing customers you serve, as well as new customers you may attract.

7. Monitor the Recency and Frequency of your Members. This comes from measuring the average number of transactions by active users in the last ninety day period.

DataData is the new oil – so make sure you capture and analyse it.

8. Build Profile Data Continuously: Make sure to measure what percentage of your members have shared their gender and date of birth – giving you the data you need to create powerful campaigns. While the quickest way to connect with customers is simply to capture their contact number, it’s also important to ensure that you continually build your insights and understanding of who your customers are, and what they need.

9. Build Store Preferences: Similar to the incredible power of the progressive profiling of your customers, it’s important to continually ask your members with identify their local store so you can target them with local offers. Another useful metric is to measure the share of members that are also subscribers.

10. Consistently Run A/B Tests. One of the most powerful tools in the digital marketers toolkit, our A/B testing functionality should be leveraged as a part of every campaign. By isolating campaign variables and analysing the results and which performs better, you can quickly learn how to design winning campaigns that really resonate with your members.

campaigns

Checklist to Effectively Analyse Your Loyalty Programme

Checklist to Effectively Analyse Your Loyalty Programme

About Us:

Liquid Barcodes is a leading global loyalty and digital marketing technology company specialising in the convenience store and foodservice industries. Our proprietary cloud-based technology platform allow retailers to create and manage their digital marketing campaigns with a proprietary process we call the “customer connection cycle’ to engage, promote and reward customers activities in real-time across digital and media channels.

How we do it:

We have developed the most advanced loyalty and digital marketing technology platform specifically for convenience store and foodservice retailers globally.

Retailers use our self-service dashboard to create and manage loyalty driven marketing campaigns that increase purchases with their existing customers, as well as effectively target and acquire new customers through partners or paid media channels.

One core component of live loyalty is gamification. We have gamified branding, loyalty and promotions. We believe this approach is essential in order to get customers’ attention and ultimately truly engage them with repeatable actions thereby winning their loyalty.

Check out some of our exciting/proven results here:

www.LiquidBarcodes.com

About Me:

Paula Thomas

Chief Content Officer, Liquid Barcodes and Loyalty Industry Podcaster

With over twenty-five years marketing experience, I specialise in loyalty marketing consulting, managing consumer loyalty propositions, strategy and operations. In addition to working with Liquid Barcodes, my clients have included Telefonica O2 Priority, Three Mobile, Electric Ireland, Allied Irish Bank and The Entertainer Group (UAE), as well as Avios – the global points currency for some of the world’s top airlines. I am also a former judge for the Loyalty Magazine Awards and host of the “Let’s Talk Loyalty” podcast.


Blog post

The Refreshing Perks of Beverage Subscription Programs 

Beverage subscription programs offer convenience retailers the benefits of enhanced customer loyalty, a predictable revenue stream, customer data, and a competitive edge.

Blog post

Measure Beverage Subscription Program Success

Use three key metrics to measure beverage program success to ensure long-term viability and maximize profits.

Blog post

Enhance Foodservice Sales With Daypart Marketing and a Beverage Subscription Program

Increase overall foodservice sales by combining a smart daypart marketing strategy with a monthly beverage subscription program.    As foodservice continues to become most important to a convenience store’s financial success and ultimate viability, harnessing the dual power of beverage subscription programs and daypart strategies will help elevate sales throughout the day.

Blog post

Beverage Subscriptions Improve Foodservice Sales

Implementing a beverage subscription program will boost customer spending on foodservice items.  Consumers visit convenience stores to do three main things: get gas, use the restroom and buy a drink. As prepared food becomes the norm in convenience stores, give your customers an offer they can’t resist with a beverage subscription program.

Blog post

Use Digital Prepaid Cards to Get Started With Subscription Programs

Digital prepaid cards are frictionless and contactless and a simple way to get started with subscription programs. A subscription program is designed to conveniently remove thinking from everyday purchases for customers to make a one-time decision for month-long unlimited products like drinks and coffee.

Blog post

Which Subscription Model Will Win You the Most Customers?

Subscription programs are enhanced loyalty programs that drive repeat visits for your most valuable customers. According to a 2021 report by WestMonroe, the average U.S. consumer spends $273 per month on subscription-based services. If you haven’t already, it’s time to get in on that action.

Blog post

An Introduction to Subscription Programs

Subscription programs ensure recurring revenue by recruiting customers and enhancing the overall foodservice offer Subscription is a big buzzword referring to any recurring or prepaid program that is delivered or available on a regular basis. 

Blog post

Circle K Norway Wins NACS Convenience Retail Technology Award 

Circle K Norway wins the prestigious NACS award for technology innovations, including car wash subscription program powered by Liquid Barcodes. NACS awarded Circle K Norway’s leaders with the NACS Convenience Retail Technology Award at this week’s NACS Convenience Summit Europe in Dublin.

Blog post

Maxol Wins Customers and Awards With Loyalty App

Irish retailer Maxol celebrates a year of success with their award-winning loyalty app. Maxol’s loyalty app has been rewarded for excellence with the prestigious “2023 Loyalty Launch of the Year ” award at this year’s Irish Loyalty & CX Awards.

Blog post

Record-High Sales Coupled With Record-High Credit Card Swipe Fees Perplex Convenience Industry

NACS releases 2022 data for the convenience industry and retailers report record-high sales, fuel prices, and credit card swipe fees.

Blog post

Sunshine Gasoline Leads Industry in Technology Adoption

Florida retailer Sunshine Gasoline leads the U.S. convenience industry with app solutions for customer convenience and loyalty.

Blog post

Newly Redesigned Brezelkönig App Accepts Payments and Rewards Loyalty

Swiss foodservice chain Brezelkönig releases app update which offers customers the convenience of earning rewards and paying for products with the app in stores.  The recently-updated Brezelkönig app allows pretzel-loving customers to enjoy recognition and rewards for their loyalty. Additionally, the Brezelkönig app accepts payments to make the customer experience even more convenient.  Brezelkönig is […]

Blog post

What Is C-StorePay?

Liquid Barcodes’ proprietary C-StorePay makes paying for fuel, in-store merchandise, and subscription programs convenient for customers, reduces credit card fees for retailers, and integrates easily into existing loyalty programs Announced in October 2022, the revolutionary Liquid Barcodes C-StorePay product rose to the top of retailers’ 2022 wish lists at the NACS Show, even achieving a […]

Blog post

Loyalty Apps Engage Customers

98% of loyalty app users love using a loyalty app and want more features from it. In September 2022, NACS published a report examining customer engagement with convenience loyalty programs. Unsurprisingly, customers feel most engaged, appreciated and valued by the stores to which they belong in a loyalty or membership program – nearly ¾ of […]

Blog post

Save Thousands in Credit Card Fees With ACH

Visa and Mastercard announced an increase in interchange fees earlier in the year and retailers are taking action and sending a message by migrating their customers to new solutions, including mobile app-based ACH payments, and in the process increasing profits by not only reducing credit card fees but also boosting loyalty via innovative app-based incentive […]

Liquid Barcodes

Put a rocket under your loyalty program

With our loyalty platform, we help design and operate world-class, tailor-made subscription and reward programs that make sure your customers always come back.

Book a Demo →

We are trusted by global brands.

Convenience retailers all over the world have engaged and rewarded consumers with our tailor-made loyalty programs.

To our case studies →

Liquid Barcodes
Liquid Barcodes
Liquid Barcodes
Liquid Barcodes

Convenience retailers all over the world have engaged and rewarded consumers with our tailor-made loyalty programs.

To our case studies →

Liquid Barcodes
Liquid Barcodes
Liquid Barcodes
Liquid Barcodes

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