Current eCommerce trends show that loyalty programs will continue to exist in channel loyalty strategies for many years to come. Not only they evolve into their better versions as tech develops, but also benefits are more visible on both the consumer and brand side. These are happening thanks to smarter use of tech and data, which blend within platforms like Apex Loyalty. When it comes to building engagement, we owe our success majorly on our smart metrics. This post features an active engagement rate, as one of these metrics that matters for many reasons. Here’s why.
Surviving the Information Overload
Our time is the era of choices – actually a multitude of choices. We are getting showered by loads of information, options, and sometimes it is hard to make the right choice amidst all the stimuli. This phenomenon would resonate with anyone familiar with the world of commerce – as for B2B, it is even more complex. How do we choose whom to engage with? And among tens of mediums, which would be the most satisfactory? Among multiple channels to do so, anyone could use a hand, or even better, a lead.
Today, loyalty strategies happen through a variety of combinations consisting of CRM, mobile apps, social media, content, etc. From customer engagement to channel engagement, there is not a single and direct path for achieving brand loyalty. It may take place through direct and indirect channels, maybe through active participation or on the subconscious level. You can never capture it on your own when it comes to new engagement tactics coming along with new trends.
Choosing the Right Definition
Engagement today became the sum of anything that would make your customers want to “be present” around you – physically or virtually. Therefore, any activity resulting in positive familiarity with your brand became a significant thing. Eventually, this climate led to the emergence of definition varieties when it came to the term engagement.
Therefore, defining your must-address values should be your top priority in establishing a strong ground for your brand loyalty. How do you want to look? How do you want to sound? And how do you plan on passing your brand message across your channel? The answer to these questions all have strong impacts on whom you like to attract and keep.
As the second step, seeking the compatible tech structure will spare you from wasting your time. You’ll hear lots of generic slogans with little or no clue that would resonate with what you have in mind. Here, the challenge is not to be tempted to go after the short-term financial gains. Choose the right product that would enable you to tailor your own program for long-term loyalty benefits.
In addition, the strength of Apex Loyalty lies in this awareness. To start with, we would like to get to know you. Technical processes come after that. We take pride in co-building your authentic definition of what you would want out of loyalty. And most importantly, we make it countable.
Apex Loyalty Rewards Program
As much as you want something unique, keep in mind that channels are also unique. Always picture them as the sum of people that they consist of. Like these people have distinct interests, behaviors, goals, as well as some negative sides, your channel will act as a similar living organism. An organism that is prone to change, and transforms, and even fails if not properly nourished in the right way.
Rewarding customers could be the foremost way to appreciate your members. It also enhances their buying experience with additional value. With a rewarding system, you choose a direct way to stand out among similar brands. However, your rewarding strategy must embrace certain flexibility to fit with your channel and your brand image at the same time.
On the other hand, a rewards program adopting this flexibility is a great option for constructing and sustaining loyalty. How can we implement this awareness into our loyalty endeavors? Apex Loyalty utilizes a range of metrics that are functional in terms of reading who you are engaging with. The active engagement rate is one that matters tremendously.
Enrollment Does Not Always Equal Participation
Firstly, the active engagement rate tells us about the active presence of your loyalty program. However, one major mistake in reading your loyalty would be a confusing active engagement rate with the enrollment rate. The enrollment rate is the number of loyalty members divided by your total number of customers, while the active engagement rate is the number of customers who have used your program divided by the same total number.
We measure your active engagement rate to understand which customers are earning and redeeming points in a given time. If this rate is low, it may mean a lot of things:
Did you design your rewarding and redeeming processes in a seamless manner?
Apex Loyalty’s built-in rewards system creates a seamless feeling in trading points. You don’t need an external portal.
Is the communication tone clear within your channel?
Use the on-site engagement tools Apex Loyalty offers for better communication.
Are you paying enough attention to your members’ preferences? What kind of content are they consuming the most?
Apex Loyalty’s dynamic rules engine provides you with the expertise to create targeted content.
If your answers to these questions are still ambiguous, you may need to look for the numbers that really matter. Good news, though: With the refined list of Apex Loyalty metrics, it is now just automation.
You can click the link https://www.apexloyalty.com/how-to-improve-loyalty-redemption-rate/ to read our previous article.