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Loyalty partners: co-creating customer value

Currency Alliance

The best-known loyalty programs are made up of many partnerships – such as United Airlines and Hilton Hotels, or Emirates and Marriott. The majority of existing partnerships at big loyalty programs are brokered with one goal in mind: creating more value for the most frequent customers.

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Loyalty programs: should you issue your own points or miles?

Currency Alliance

This means that loyalty programs are now a more important channel for customer acquisition and retention than ever before. A low-frequency business would be an airline (for most people), or brands selling occasional purchases such as refrigerators, cars, laptops, shoes, gala dresses, etc.

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Top 6 Loyalty Trends for 2020: digital transformation for an open future

Currency Alliance

Airlines will spend a good portion of 2020 proving that their programs are fundamental to minimizing the environmental impact as the industry grows. At the Loyalty Surgery this year, IBM’s Greg Land said that their modern martech trial at Malaysia Airlines performed extremely well, delivering a 43% improvement in ROI.

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Reconsidering Loyalty: Top Loyalty Trends for 2019

Currency Alliance

Reward programs still have an important part to play in this effort; but they are only part of the picture. YouGov data from the UK shows that even the youth demographic – supposedly disloyal – thinks that points programs “are a good way for brands to reward customers and 59% think all brands should offer one.”. [iii].

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9 Ways You Can Spring Clean your CX

Kitewheel

For an airline, it may be as simple as streamlining the boarding process, a major source of stress for travellers. For example, many retailers send a welcome email after you sign up for their rewards program. Connect channel activities and customer experiences.

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It’s (almost) never 1%: how to price loyalty rewards

Currency Alliance

Such ‘loyalty’ programs today are actually just rewards programs: ‘you do this and I will do that.’ This is normally in the form of static rules which apply a flat 1%+/- reward across the board. Second, emotional loyalty involves rewarding your customers for many more touchpoints than just purchases.

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Breaking down the walls: Loyalty Magazine Awards 2019

Currency Alliance

More enlightened marketers, on the other hand, see points as a way to keep score of customer actions at many different touchpoints along complex customer journeys. Collecting data at more touchpoints is very useful. Asia Miles, the loyalty program of Cathay Pacific airline group, teamed up with Accenture to do just this.