For whom?
Whether you're an established loyalty manager looking to reinvigorate your loyalty initiatives or a startup looking for the ultimate roadmap to success, this loyalty program KPI template will equip you with the knowledge and tools you need to navigate the intricate landscape of key loyalty program metrics. By harnessing the power of loyalty program KPIs, you can make informed decisions, optimize reward strategies and build a customer-centric ecosystem that thrives on commitment.
Design your loyalty program KPI report with the input of top loyalty experts.
How can these KPI templates help me?
Our worksheet, prepared with the help of an experienced loyalty manager, contains specific KPIs, corresponding explanations, formulas, and best practices under each category. The goal is to provide you with a market-proven view of the loyalty program's performance and insights on enhancing its effectiveness.
Monitoring and analyzing these KPIs will empower you to assess the effectiveness of their loyalty programs and make data-driven decisions to improve customer retention, engagement, and overall program performance.
What’s inside of this loyalty program KPI template?
In this comprehensive whitepaper, we delve into loyalty program KPIs, offering actionable templates and best practices to gauge the triumph of loyalty initiatives. We recognize that loyalty programs must deliver measurable results for businesses, optimize resources, monitor customer lifetime value, and enhance customer engagement and retention strategies.
So, what are the most critical 25 KPIs of a loyalty program?
- Loyalty Sales
- Average Basket
- Frequency
- Repeat Purchases Rate
- Incremental Sales
- Program's ROI
- Total Loyalty Database Size
- New Acquired Members
- Active Members
- Database Activity %
- Inactive Members
- Lost Members
- Reactivated Members
- CPA (Cost Per Acquisition)
- CLV (Customer Lifetime Value)
- Points Issued Total
- Points Redeemed
- Points Expired
- Total Active Points
- Points Redemption Rate
- Points Expiration Rate
- Standard vs. Bonus Points Ratio
- % Split of Members per Tier
- Cost of Discounts per Tier
- Revenue per Tier
All of these loyalty program KPIs are described thoroughly and formulated along with calculation formulas that track the performance of your loyalty program, enabling you to make informed decisions and optimize your program to increase customer retention and engagement.
How to use our loyalty program KPI template?
This worksheet is a template that can be customized to fit your loyalty program scheme and reporting workflow so you can come up with the ideal KPIs for your business.
Using the template is simple. Each KPI has a category, explanation, formula, and best practices. Follow these steps:
- Open the document using any spreadsheet software, such as Excel or Google Spreadsheets.
- Review the 25 KPIs and 4 categories to find out which metrics are the most relevant for your business.
- Once you pick a KPI, check its formula to calculate it in your loyalty software and other analytics and BI systems.
- Every metric also comes with best practices to follow recommended actions or avoid common mistakes. Take note!
- Repeat for every KPI that can help your bottom line.
But which KPIs and categories should I choose?
There is no golden rule. At the end of the day, KPIs are useful if they empower your strategy. Remember that top management techniques for your loyalty program may vary depending on the industry, target audience, and program objectives.
Also, this is a process. No matter which KPIs you choose, regularly analyze the performance of these metrics, gather member feedback, and adjust your strategies to ensure continuous improvement and member satisfaction.
If you want an in-depth understanding of best practices for selecting and working with KPIs, read our article on measuring loyalty program health.
Feel free to reach out to us if you need any assistance in using this resource.