Loyalty and Rewards
Loyalty and Rewards are often confused. Polymath Consulting have a clear view that :
Do what they says on the tin, and reward customers for past behaviour
Loyalty is not just about rewards.It is about rewarding customers but in a way that seeks to change their behaviour through a cost effective process with a real ROI. Rewarding the customer may play a part in this but it is often about more than just rewards.
Our loyalty expertise encompasses a wide range of abilities that can help both assist in building a new programme and evaluate an existing one to take it to the next stage:
- Develop programme and business objectives
- Build the business case and either the financial model
- Work with you defining the key segments to engage and understand their needs
- What will make the programme stand out, what will the USP be?
- Develop a strategy around points earning, what rate, bonusing, partners and structures do you require
- What are the points value and lifetime.
- Do we tier or cap points earning based on behavior or time periods
- What provision do we allow for breakage, and issues around liability management?
- How will members redeem, instant rewards, SMS, in store, partner relationships?
- Do you require partners, what partners best fit strategically?
- What is the ideal burn rate, how can you drive this to ensure true member engagement
- Which partners are best?
- How to approach them, what sort of deal can you do
- Negotiating on your behalf
Technology – RFP Management
- Development of RFP’s
- Mapping out both current and future requirements
- Identification of potential suppliers and shortlisting with you, based on our experience and market knowledge the best potential partners to those who should be invited to tender
- Management of complete RFP process
- Development of assessment and score card criteria
- Support during programme implementation