How to Measure the Success of Your Loyalty Program?
To measure the success of your loyalty program, track the following metrics:
1. Customer Retention Rate: The percentage of repeat customers over a specific period. 2. Redemption Rate: The percentage of earned rewards that are actually redeemed. 3. Customer Lifetime Value: The total revenue generated by a customer over their lifetime. 4. Engagement Rates: Open and click-through rates of your loyalty program emails.