Loyalty Program KPIs: Measuring Health and Performance
A loyalty program should work for its members as well as your company, says Oracle CrowdTwist Senior Strategist Carly Mathews. It’s a balancing act. And to measure how good of a balance you’re striking, you need to track a variety of key performance indicators.
With Oracle CrowdTwist clients, we measure many metrics, each of which tells us something unique and important about how a loyalty program is doing. These metrics generally fall into two buckets: health KPIs that measure the appeal of and engagement with a loyalty program, and performance KPIs that measure the direct financial impact of a program.
Some of our clients have loyalty programs that don’t include commerce components. In such cases, we only focus on health KPIs. So, let’s begin by discussing those.