- Contest Factory
- November 19, 2019
Customer Loyalty Metrics Strategy and Tactics Tips:
It goes undisputed among sales and marketing professionals that it is easier to make a sale to an existing customer than it is to sell a product or service to a prospect. Not only is it easier, it costs less too. With all this gravy, it’s no surprise that Loyalty Marketing is an industry all unto itself. There are thousands of organizations dedicated to building your custom loyalty program and off-the-shelf reward programs you can join to brand for your corporate identity to reward your loyal customers.
Whether you select an off-the-shelf loyalty program, custom development, or in-house creation, you need to ensure your efforts and investment are bringing in the desired outcome. This is something you should consider, set goals and forecast prior to implementing a program.
Focusing on Customer Loyalty Means Tracking Customer Loyalty
Just like all campaign efforts, your loyalty program is going to require a lot of testing and experimentation, which means that you’ll need to be able to track your progress as you deploy new techniques moving forward.
First, document your baseline Key Performance Indicators (KPIs) so that you can see the genuine impact that your loyalty program is having. Measure these KPIs before, during, and after the launch – tracking how they improve over time once the program itself goes into effect.
Depending upon the type of loyalty program you offer your members, they may self-select into the program and you can use these events to track each member’s opt-ins and watch your signups grow. You will need to use Google Tag Manager to deploy Event tracking. This will enable a non-coding marketer to create the events. To see the results of tracking this information, click BEHAVIOR in Google Analytics’ left navigation pane. This will expand and provide sub-categories. Click on events to expand the events sub-category menu to view your data.
Consider the following:
- To learn more about the people who have requested more information from you and who want to find out more information about what your brand has to offer, keep track of newsletter signups. In Google Analytics, use the “Admin” dashboard to create a new goal using the “+ Goal” button. Select the “Event” option at the bottom of the page and further customize your tracking capabilities around those specific people who sign up for your newsletter or perform a similar action.
- Track the number of people who visit often, otherwise known as people who visit your page over a certain number of times in a defined period. In Google Analytics, use the Segment Builder to configure an individual filter that isolates the behaviors of people who visit X number of times over Y number of days (whichever you prefer). Then, compare those behaviors to your total population using Google Analytics’ reporting feature to get a much better insight into those loyal users. This should show you the impact your program is having on customer visits, page views, sales, buying cycles and content preferences.
- Track the people who visit you frequently, otherwise known as tracking the time between visits. Google Analytics will do this for you automatically based on a very simple calculation. This is one of the metrics that you can view right from your dashboard. Just view the “Channels” report for the appropriate domain.
- Finally, you can get to work tracking loyalty sales themselves. To do this, you’ll need to use custom variables to better track not only the activities, behaviors, and patterns of your loyalty customers, but their transactions, sales, and times between purchases as well. To do this, you will need to enlist the help of a developer who can both make sure that everything is set up correctly and that you’re also tracking the right users over the long-term.