Your program seems to be doing okay, possibly achieving a positive ROI annually. Your membership base is engaged and sees value in your program. What’s next? Get more personalized to deepen these valuable relationships. Better personalization usually means better profit – a win-win for everyone.
Benchmark KPIs to Measure
- 50%+ Penetration Rate
- 25%+ Increase in AOV
- 10%+ YOY Membership Growth
- 75%+ Annual Active Membership Rate
- <5% Annual Churn Rate
Optimize Engagement and Profitability with Next-Level Personalization
Provide immediate value to your membership base using the best incentives and experiences at scale. Here is a framework to optimize all aspects of your member lifecycle.
ATTRACT
Use your knowledge of members’ lifetime value to offer enticing enrollment incentives if growth is slow. Ensure these incentives are part of a larger plan to show ongoing value.
ENROLL
Evaluate your enrollment conversion rates and first transactions. Gather more member info, such as preferences or household details, to send relevant offers. Boost profile completion with rewards and use this data for long-term engagement. Consider modular solutions if your tools don’t support frequent, targeted messages.
ENTRENCH
Increase personalization to excite and educate members about unused benefits. Offer exclusive or first-access deals to top-tier members and celebrate milestones like birthdays or new tier unlocks. Incentivize products based on their history and remind them of redemption opportunities through their preferred channels. Use modular tools that integrate with your martech stack to achieve this.
DISCOVER
Identify personalized opportunities for members and use real-time engagement tracking to develop relevant offers. Update these offers in real-time to fit each member’s needs. .
GROW
Leverage AI to predict member behavior, personalize experiences, and enhance rewards. Implement personalization at scale across all channels, including social media. Use machine learning to match offers with members in real-time.
RETAIN
Provide consistent value in every channel and create a sense of community with exclusive events or online forums. Engage members long-term with enticing rewards, gamified challenges, tiered rewards, and special privileges.
WIN BACK
Address poor member experiences and lapsed activity with specific plans. Invest in offers to regain attention, equip your front line with tools to handle issues, and provide feedback channels. Use this data to improve and win back lapsed members.
Let’s keep the conversation going! We’d love to support you through this process.
