Loyalty programme managers nod along to funding rates in meetings - and quietly find them confusing. What's a point actually worth? What does a bonus campaign really cost? Get the answer wrong and you're either leaving engagement on the table or building a liability that blindsides finance at year-end. Here's how point exchange value, funding rates, and segment-level bonus budgets actually work - and why the split between base and bonus is the lever that holds the whole econo

Engagement rates. NPS scores. Redemption ratios. None of them answer the one question that actually matters: is this program making us money? And yet, those are exactly the metrics we reach for when the pressure comes. But answer lies in building a proper Loyalty ROI model. Read the article to know more.