Point of View
There is a popular business saying that applies to any organization: "What gets measured, gets done." Of course this is more than a saying. It is true.
While marketing in general has not always been entirely accountable, a loyalty or incentive program is one of the most measurable forms of business expenditure. However, many managers and executives often struggle to measure the results of a rewards program.
As part of designing an effective rewards program, you should ask yourself five critical questions regarding measurement:
1. What specific program metrics do we have in place? 2. Does the program present a viable value proposition, not only for our organization but also for our customers or members? 3. Is there a true and consolidated accounting of the program's cost? 4. Is there a defined process in place for reporting on the program's performance? 5. Do we have a way to measure the incremental return that the program generates? |
| To read the complete 3-page article, simply click on the link below.
Measuring Reward Program ROI |
