Researchers pioneer loyalty benchmarking study
Anonymised survey launches to establish operational and performance benchmarks for loyalty programmes globally
A new survey has been launched for loyalty operators looking to quantify the value of their programmes and benchmark themselves against industry standards and competitors.
The Loyalty Science Lab at Old Dominion University in the US is conducting the Loyalty Program Benchmarking study to help establish operational and performance benchmarks.
The in-depth survey requires programme operators to share active and new member acquisition numbers, as well as the type and value of the scheme’s accumulation system.
Understanding performance and value
It aims to quantify, by industry and type, the value of such schemes so operators can compare their programme’s value with those of their competitors and across industries.
Participating operators will receive a customised report, showing both their programme metrics and how they compare with benchmarks established through the study data.
The customised report will only contain the metrics that can be calculated from the data supplied about each programme, while all responses will be kept strictly confidential.
The Lab also stressed all responses will be anonymised and no identifiable information will be shared.
The benchmarking survey is presented by global ad and martech company which is also part of the Publicis Groupe, Epsilon, and the Customer Strategy Network, a global consortium of leading independent customer loyalty practitioners, strategists and academics.
Game-changing programme research
Brad Macdonald, loyalty strategy vice president at Epsilon, said: “The global benchmarking survey is a real ‘game changer’ for our industry in the way programme managers evaluate their performance metrics.
“Finally, programme managers from across multiple categories and geographies have a way of understanding how their own loyalty programs stack up against their industry peers.
Nick Chambers, Customer Strategy Network managing partner, added: “CSN are delighted to partner with Epsilon to provide program managers with this unique opportunity to compare their own loyalty program performance against the industry overall.
“Loyalty marketers now have the chance to compare for themselves the good, and the not so good, in the performance of their own programs.”
A link to participate in the survey can be found here. Retail Technology will report on the results as soon as they are available before the end of this year.
