How do you determine if your loyalty program is working well?
You need data to steer your customer loyalty program in the right direction.
These insights and data can help you understand and make more effective decisions about your potential and loyal customers. They also help you find ways to improve your customer loyalty programs.
McKinsey found that “executive teams that make extensive use of customer data analytics across all business decisions see a 126% profit improvement over companies that don’t.”
What is analytics?
Data analytics is the science of analyzing raw data in order to make conclusions about the information you’re getting. This information can then be used to optimize processes to increase the overall efficiency of a business or system.
A loyalty rewards program provides companies with a vast array of customer data and loyalty analytics. Loyalty programs benefit companies in terms of growth and profits, but the greatest value over time is the increased visibility and deeper understanding of individual customer behavior.
What is new?
We are reintroducing the Analytics section (Beta version) with more details per program, so you can take more calculated decisions.
1. General Section
It gives you an overview of your loyalty program’s most important metrics. This is the best place to see the overall performance at a glance.
2. Programs Section
This section gives you a detailed analysis per program. This is the best place to review each program’s performance.
With cashback, you don’t have to discount your products, which prevents undervaluation of your proposition. At the same time, you are able to provide a financial incentive to buyers. This allows you to satisfy customers without devaluing or discounting your products.
This section of the Analytics will give you deep insights into your sales, points rewarded by this program, their monetary value, sales trends, and more.
A tip: The best time to launch a campaign is by knowing your peak selling hours and the best days of the week for your business!
Consumers are 4x more likely to purchase something when referred by a friend. Word of mouth marketing is believed to be behind 20-50% of all purchasing decisions.
In this section, you can discover your top referring players, total referring sales (sales achieved by people who were referred), points rewarded by this program, their monetary value, and conversion rate.
Challenges are one of the very powerful tools you can use to motivate your players to spend more time on your platform and take more actions.
Know your top achieved challenges, points rewarded by this program, their monetary value, sharing badges insights, points accumulated per challenge type, and more.
Create a program that motivates your players to excel and raise their level of engagement like spending more time on your platform or becoming more active.
Discover how many players are there per tier, performance per tier, and does your player perform better on higher tiers or not?
3. Redemption Section
As your players collect points with different purchases and actions performed on your website, you get to decide how they can later use these points. Based on your configurations, players can earn points through different Gameball programs.
Uncover your players’ redemption behavior trends, redemption pattern, outstanding points and more.
Introducing the Gameball strategies section. Here we’ll be posting strategies and tactics each month to help store owners like you take your loyalty program to the next level and make the most out of your experience with Gameball.
Here’s a list of our latest strategies:
- Enable Gameball Email Notifications
- Variety in Reward Point Redemption
- Personalize Your Loyalty Program Experience Today!
As always, stay tuned for our monthly updates as more exciting updates are in the works.
We are trying hard to always enhance our experience and to fulfill all your requests and needs.
If you have any comments or suggestions, please send us an email to email@example.com