ย Problem
Example questions to answer:
What problem are we solving? For whom? When do they experience this issue? What data, research and feedback do we have that explains this problem? Which customers are we working with, or hearing from, to better understand this problem? Why is solving this problem urgent? Why is it important?
โข
Problem: Lack of customer retention and loyalty.
โข
When do they experience this issue: When they don't receive any rewards or incentives for their continued loyalty. Our customer surveys show that lack of rewards and incentives is a major factor in customer churn.
โข
We are hearing from our top customers who have expressed the need for a loyalty program. With increasing competition in the market, customer retention is crucial to sustain our business.
ย Proposal
Example questions to answer:
How are we solving this issue? What alternatives did we consider? Why did we land with this? What is the general shape of this solution? Do you have any mocks, prototypes, relevant comparisons in the market? How will we know that weโve solved this issue? What will we measure? Have we considered how weโre building this to be fast, performant, scalable and/or relatively low-cost on our services?
โข
Solution: Introduce a customer loyalty program that rewards customers for their continued loyalty and encourages repeat purchases.
โข
Offering one-time discounts, increasing marketing efforts, but these do not provide a long-term solution to retain customers. A tiered loyalty program where customers earn points for their purchases, with rewards such as exclusive discounts, early access to new products, and freebies.
โข
Mocks and prototypes: Yes, we have created mocks and prototypes to test the program with a small group of customers.
โข
How we know it works: We will measure customer engagement, repeat purchases, and overall customer retention rates.
โข
Considerations: We are building this to be scalable, cost-effective, and fast to implement.
ย Plan
Example questions to answer:
What are we building? How does it work? How do we know that it works? What are we measuring? When will it be ready?
โข
Building: A tiered loyalty program with a point-based system.
โข
How it works: Customers earn points for their purchases, and can redeem their points for rewards and discounts.
โข
Measuring: Customer engagement, repeat purchases, and overall customer retention rates.
โข
Ready: We plan to launch the loyalty program in three months, following testing and feedback from our small group of customers.
