A first of its kind loyalty program performance benchmarking service, will launch this September 2023.
A free resource to the loyalty industry, the benchmarking service targets loyalty program managers from every industry from airlines, financial services, QSR, retail, grocery, business-to-business, fuel, retail, travel and more.
The goal is to provide brands the ability to optimise their programs by comparing their brands own performance to those of other loyalty programs, both from within their regions as well as from across the globe.
Questions relate to financial, member and program health and comparisons will be made against metrics such as burn and breakage rates, member activity and program satisfaction.
Initial results will be available by October 2023. Participating Brands will also receive a summary of the key results and findings of all collected results.
The benchmarking survey is presented by Epsilon, a global adtech and martech company part of the Publicis Groupe, and Customer Strategy Network, the global consortium of leading independent customer loyalty practitioners, strategists and academics.
The survey will be conducted and administered by the Loyalty Science Lab, an academic research unit based at Old Dominion University in Norfolk, Virginia USA. Survey answers will only be shared with the presenters in an aggregate format. Only the Loyalty Science Lab is aware of the identity of programs and each response.
Brad Macdonald Vice President, Loyalty Strategy at Epsilon said:
The global benchmarking survey is a real ‘game changer’ for our industry in the way program managers evaluate their performance metrics. Finally, program managers from across multiple categories and geographies have a way of understanding how their own loyalty programs stack up against their industry peers.
Nick Chambers Managing Partner at Customer Strategy Network said:
‘CSN are delighted to partner with Epsilon, a global leader in Loyalty, to provide program managers with this unique opportunity to compare their own loyalty program performance against the industry overall. Loyalty marketers now have the chance to compare for themselves the good, and the not so good, in the performance of their own programs.’
For more information about the global benchmarking survey contact Nick Chambers: nick@customerstrategynetwork.com
