The Retention Ledger is an independent desk that writes down how customer loyalty programs actually work, and how to tell whether they are keeping anyone. It exists because most loyalty spend is measured by signups and excitement rather than by whether members come back.
Every plan is filed the same six ways: the mechanic, the cost to the member, the reward they receive, the retention metric that matters, the main risk, and the kind of business it fits. That shared card lets you compare a points scheme, a tiered program, a paid membership, and a pure metrics question on the same terms instead of trading vendor claims.
Our editors lean on ordinary program-design practice and long-standing retention vocabulary, and we frame everything as general education. We do not name specific brands, retailers, or loyalty software vendors, and we make no promises about any particular retention outcome.