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Similar to Senator, I prioritise. My BA membership year starts in June, so my first goal is to maintain Silver status as a minimum and thereafter look at Star Alliance. My reasoning? My company travel policy is Business only once a flight is 8hours or more (meaning I have to do Dubai in economy…no fun at all). I travel alot to Switzerland and Turkey and so with BA I can at least use use many of the perks of business travel, even if not actually sitting up the front. I am also in Oz 3 or 4 times a year so the Silver Card is great for using Qantas out there as it means I can use Qantas Club on the domestic flights and flights across to NZ.
IHG is my hotel group of choice and the goal is always to maintain platinum status before upping the status/points at Hilton, Marriott, Starwood etc.