WHEN BUILDING A house, you can proceed one of two ways: You can carefully lay out your home’s design on a blueprint, consulting along the way with the architect, carpenter, electrician and plumber to ensure your finished home will be rock-solid and built within your budget. Or you can simply pour a foundation, start nailing boards together and hope for the best.
Loyalty programs are no different. The best way to build a successful program is to create a solid financial model that can measure projected return on investment before launch.
When estimating the ROI of a prospective program, the first step is to define and identify the financial benefits and costs. The difference between measuring the ROI of an existing program
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