Loyalty and Rewards

Loyalty and Rewards are often confused. Polymath Consulting have a clear view that :

Rewards
Do what they says on the tin, and reward customers for past behaviour

Loyalty is not just about rewards.It is about rewarding customers but in a way that seeks to change their behaviour through a cost effective process with a real ROI. Rewarding the customer may play a part in this but it is often about more than just rewards.

Our loyalty expertise encompasses a wide range of abilities that can help both assist in building a new programme and evaluate an existing one to take it to the next stage:
Business Case

  • Develop programme and business objectives
  • Build the business case and either the financial model
  • Work with you defining the key segments to engage and understand their needs
  • What will make the programme stand out, what will the USP be?

Earn Points

  • Develop a strategy around points earning, what rate, bonusing, partners and structures do you require
  • What are the points value and lifetime.
  • Do we tier or cap points earning based on behavior or time periods
  • What provision do we allow for breakage, and issues around liability management?

Burning Points

  • How will members redeem, instant rewards, SMS, in store, partner relationships?
  • Do you require partners, what partners best fit strategically?
  • What is the ideal burn rate, how can you drive this to ensure true member engagement

Partnerships

  • Which partners are best?
  • How to approach them, what sort of deal can you do
  • Negotiating on your behalf

Technology – RFP Management

  • Development of RFP’s
  • Mapping out both current and future requirements
  • Identification of potential suppliers and shortlisting with you, based on our experience and market knowledge the best potential partners to those who should be invited to tender
  • Management of complete RFP process
  • Development of assessment and score card criteria


Implementation

  • Support during programme implementation