How can a brand effectively measure the ROI of their customer loyalty program to ensure it is delivering tangible benefits and driving long-term customer engagement and loyalty?

A brand can effectively measure the ROI of their customer loyalty program by tracking key performance indicators such as customer retention rates, purchase frequency, average order value, and customer lifetime value. They can also use surveys and feedback to gauge customer satisfaction and loyalty levels before and after implementing the program. Additionally, brands can analyze data from their loyalty program software to see how many customers are actively participating and benefiting from the program. By comparing these metrics to the costs associated with running the program, brands can determine if it is delivering tangible benefits and driving long-term customer engagement and loyalty.