Your program is one of the best. You’ve invested in all the right areas, everything is performing at, or above market expectations and you’ve established a sophisticated approach to engaging your members at a 1-to-1 level. So, what’s left to do? Continuous innovation is required so your program doesn’t become stale. Think outside the box – and beyond your brand – while maintaining status quo.
Benchmark KPIs to Measure
- 50%+ Penetration Rate
- 25%+ Increase in AOV
- 10%+ YOY Membership Growth
- 75%+ Annual Active Membership Rate
- <5% Annual Churn Rate
You have great fans…help them help you!
Next up for you – maximizing member advocacy. Boost your program value by handing the mic to your members. Since they love you, let them tell the world! Here is a framework to optimize all aspects of your member lifecycle.
ATTRACT
With stable growth from your current marketing and partnership efforts, get your best members involved in attracting interest. Build up community conversation through advocacy programs, complete with extra benefits for those shouting praises from the rooftops. Ensure these benefits are part of a larger plan to show ongoing value.
ENROLL
Extend enrollment opportunities to all channels and, if partnering with brands or advocates, integrate data to cross-pollinate member information. Gather more details, such as preferences and dislikes, 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, especially with partnerships. Offer exclusive or first-access deals to top-tier members and celebrate milestones. Incentivize purchases based on member history and remind them of redemption opportunities through their preferred channels. If your platform doesn’t support this level of personalization, add modular tools that integrate with your martech stack.
DISCOVER
Identify personalized opportunities for members and use real-time engagement tracking to develop relevant offers, and incorporate partner offers into this plan. Where necessary, put more effort into educating your membership base on the benefits your partners bring to the program. Add “try this” incentives to maximize usage. Update these offers in real-time to fit each member’s needs.
GROW
You’re able to become a market leader – try new, bold engagement concepts that haven’t been done before. 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. Optimize your best member tier by offering coveted, niche rewards only available to them.
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.