THE LOYALTY PROGRAM BLIND SPOT: WHY ROBUST BUSINESS CASES MATTER IN APAC & MEA

Blog post description.

Paul Davies

4/29/20242 min read

person holding eyeglasses
person holding eyeglasses

Following on from yesterday’s post let’s look at the key components of a strong business case.

Building a Strong Business Case: Most organisations have a template or preferred structure you will need to follow but I would include:

  • Tailored it: Your business case will be stronger the more aligned it is to your company's goals and situation.

  • Beyond Justification: Go beyond justifying the program, show how it aligns with the overall business strategy and drives key metrics and objectives.

  • Living Document: Consider the case as dynamic, evolving throughout to be able to set expectations, align on measurement criteria and reflect the programme performance and changing market conditions.

  • Include an Exit Strategy: Include in your business case when an Exit should be considered, the criteria and a clear plan to evolve the program to exit.

Components of a Robust Business Case:

  • This is likely to be long list but some of the essential elements include:

  • Your customer landscape, customer value analysis and loyalty behaviour.

  • Competitive landscape and loyalty program analysis.

  • Proposed program design and features.

  • Projected programme financial analysis – from funding costs to liability projections and lots more.

  • Implementation plan and resource allocation.

  • Metrics and KPIs for program success measurement.

Using the Business Case to Drive the Program

  • A well-crafted business case is used to:

  • Secure C-suite buy-in and necessary funding.

  • Align internal stakeholders across departments (marketing, sales, IT).

  • Align external partners to your goals and KPI’s

  • Guide program development and implementation.

  • Establish clear success metrics and KPIs.

  • Facilitate ongoing program optimization.

The Power of Sharing Business Cases with Partners

Organizations are often hesitant to share confidential information with partners, even with NDAs in place. But here's the key takeaway: transparency breeds trust and fosters stronger partnerships and can empower your partners to become true collaborators.

The Benefits of Sharing:

  • Alignment on Program Goals: enables Partners to tailor their efforts to support those goals.

  • Enhanced Partner Engagement: Sharing demonstrates your commitment and investment and can incentivize partners to contribute valuable expertise.

  • Improved Program Execution: Collaboration can proactively identify roadblocks and develop solutions.

  • Deeper Customer Insights:  Sharing relevant data can encourage Partners to share their customer knowledge.

  • Building Long-Term Partnerships: Collaboration breeds trust and strengthens relationships.

Tips for Sharing Confidential Information Securely:

  • Focus on Need-to-Know: Prioritize data and insights directly relevant to the partner's role in the program.

  • Aggregate and Anonymize Data: Share anonymized or aggregated data sets.

  • Leverage Secure Collaboration Tools: Utilize secure platforms designed for confidential information sharing.

  • Clear Communication and Agreements: Set expectations around confidentiality through NDAs and agreements.

Unlocking Potential at The Loyalty Marketing Advisors (TLMA)

At TLMA, we know the power of a robust business case and how it enhances the chances of success and effectiveness of the programme.

Loyalty Connect Discussion

What are your experiences with business cases? Share your thoughts and insights in the comments below!