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QUESTION POSED ON: 27 June 2003
I am a teacher and a consumer that has come up with a customer loyalty
program that I believe can be quite favorable to both corporations and
consumers alike. However, I don't really know where to begin. Who do I pitch
it to? What type of research should I come up with first? What type of
research should I be doing? Could you give me a little direction to get started?
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EXPERT RESPONSE
Not to dampen your enthusiasm; but, to begin, you should probably review the
components of your program against those already available in multiple
industries. There are several companies whose sole business is the
development of such programs. Even they tend to create me-too, cookie
cutter programs which have little strategic differentiation or value but are
merely glorified frequency programs... Also, look at what you've developed
in the following contexts:
- Does your program offer customers anything of unique perceived value, that
is some thing or things that provide genuine benefit sufficient to leverage
loyalty behavior?
- Does your program have both tangible and intangible elements of value,
i.e. not merely points and products?
- Does your program have mechanisms to generate in-depth profile data (which
is the principal utility of these programs)?
- Does your program have sustainable elements, which can evolve as customer
needs change?
- Does your program have an escape strategy that doesn't negatively impact
your customers?
If you can answer "Yes" to all these questions, along with a portfolio of
proof to back it up, the best advice is to approach one of the companies
which package loyalty programs for its clients.
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