Currency Alliance

JUNE 11, 2019

A 2018 Collinson study reported that 66% of financial services professionals say their bank “does not understand why customers are loyal or have a strategy to strengthen customer relationships”[i]. People are more likely to leave their spouse than their bank[ii], so it might seem that banks have no case to answer. Extra what?

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

Currency Alliance

OCTOBER 4, 2023

Recognizing loyalty program members at the Point of Sale (POS) has been challenging for over 30 years. The result is that it can be difficult for a retailer to deliver a smooth customer experience when identifying their own loyalty program members, or customers in partner loyalty programs, at the POS.

Loyalty 59

Loyalty Loyalty Programs Retail Banking 59

Currency Alliance

DECEMBER 11, 2023

Unless the volume of business is high, there is never a positive return on investment (ROI). For this reason, only very large partners end up collaborating even though the loyalty program members engage with thousands of medium or smaller potential partners on a daily basis.

Loyalty 52

Loyalty Loyalty Programs Document Brands 52

Currency Alliance

FEBRUARY 20, 2023

It is the most powerful, yet under appreciated module (or tool) in a loyalty marketing stack of software. The loyalty rules engine is the module that enables the types of promotions that are familiar from every major loyalty program. This would not require much of a rules engine – since your program has no variation.

Loyalty 52

Loyalty Loyalty Programs Social Media ROI 52

West Monroe

MAY 31, 2019

Many firms have started building out their potential use cases and strategies, budgeting innovation funds, and building proof of concept systems. Many banks still have hundreds of contact center agents answering simple questions like these, which are the exact types of queries that virtual assistants and chatbots excel at answering.

Banking 40

Banking Financial Contact Center ROI 40

Currency Alliance

DECEMBER 17, 2019

This has mostly been via low-investment, tactical approaches that increase ROI, and educate the C-suite regarding long-term strategic value. Faced by this looming ‘perfect storm’ of change, the sheltered existence, that many leading loyalty programs have enjoyed for three decades, is coming to an end. An uncertain future.

Loyalty 64

Loyalty 2020 Loyalty Programs Travel 64

Currency Alliance

DECEMBER 19, 2022

It has the potential to address a lot of business challenges, and enable many forms of elusive innovation in loyalty marketing. The biggest opportunities for loyalty programs relate to operating more efficiently to reduce cost, and improving personalization. Improving customer insight and loyalty personalization.

Loyalty 52

Loyalty Marketing Airlines Loyalty Programs 52

Currency Alliance

DECEMBER 7, 2021

But make no mistake; failing in the medium-to-long term on these Loyalty Imperatives will put your customer relationships at risk and ultimately damage your brand. Most programs do a fairly good job focusing on frequent customers. The Loyalty Imperatives answer that question. Loyalty programs are no different.

2030 52

2030 Loyalty 2022 Loyalty Programs 52

Currency Alliance

APRIL 10, 2021

If a new CEO replaced you tomorrow, and had no previous connection to the current loyalty program, what changes do you think she would make? As CEO, the time you can dedicate to your loyalty program is probably close to zero. Most loyalty programs report how many members they have.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

ReviewTrackers

MAY 8, 2017

Session topics include how to make the most of customer feedback , the different elements of ROI, employee engagement, the continued role of NPS in measuring customer satisfaction, agile operations, and in-depth measurement and insight, among others. Where: London, UK. Forrester CXNYC. When: June 20 to 21, 2017. Where: New York City, NY.

2017 50

2017 Events Customer Experience Customer Journey Mapping 50

Oracle

JANUARY 16, 2018

With every new year comes new customer experience trends and innovations. On the horizon for 2018 is an increase in customer advisory boards, new job titles, and the next frontier of customer experience-related innovation management. Prediction #2: Increased focus on innovation management.

2018 52

2018 Customer Experience Net Promoter Score Innovation 52

Currency Alliance

NOVEMBER 16, 2021

What is strange today, is that most brands have evolved their public-facing ecommerce platforms into dynamic, content-rich, and personalized shopping experiences, while their loyalty program redemption catalog may not have changed in ten years, leaving it looking static with minimal appeal. Management.

Loyalty 52

Loyalty Loyalty Programs Touchpoint Hotels 52

Currency Alliance

NOVEMBER 16, 2021

What is strange today, is that most brands have evolved their public-facing ecommerce platforms into dynamic, content-rich, and personalized shopping experiences, while their loyalty program redemption catalog may not have changed in ten years, leaving it looking static with minimal appeal. Management.

Loyalty 52

Loyalty Loyalty Programs Touchpoint Hotels 52

Currency Alliance

NOVEMBER 14, 2019

Loyalty marketing, however, has been restrained (or, arguably, sheltered) by monolithic tech, and probably a lack of interest, as other, sexier marketing innovations stole center-stage. 2020, however, seems likely to be the year in which stars align for a more profitable, productive and open future for loyalty.

Loyalty 40

Loyalty 2020 Hotels Loyalty Programs 40

Currency Alliance

FEBRUARY 26, 2019

Having benchmarked and talked to hundreds of loyalty programs in the past few months, what we think program leaders ought to be doing during the next 3-6 months is preparing a plan to realign their loyalty program design with the broader business strategy and core value propositions. Customer data: maximize ROI.

Loyalty 45

Loyalty 2019 Loyalty Programs Hotels 45

Currency Alliance

DECEMBER 13, 2018

Escalating competition across sectors – not a purported “death of loyalty” – is making loyalty harder earned. As a result, major loyalty trends for 2019 will see a wave of innovation as established brands trial new ways to retain share of mind. Loyalty program management’ was reported as CMO’s lowest priority, with 4.8%

Loyalty 45

Loyalty 2019 Loyalty Programs 2018 45

Currency Alliance

OCTOBER 27, 2017

Unfortunately, the customer loyalty sector has not kept pace. Most loyalty programs still retain largely the same design as 20 years ago. The key to getting customers once again actively involved in loyalty program participation is through providing greater liquidity.

Loyalty 45

Loyalty Customer Engagement Engagement Loyalty Programs 45

Qualtrics

APRIL 22, 2020

Conjoint/MaxDiff is a vital tool to help you understand how consumers’ needs are changing and make decisions going forward that solidify trust in your brand: Customer loyalty — identify what to prioritize in your customer loyalty programs from rewarding customers, to future deals and expanding user credit with additional perks.

Hospitality 29

Hospitality Retail Rewards Programs ROI 29

OpinionLab

MARCH 12, 2015

For the remainder of this newsletter, I’m going to outline some of the more innovative and impactful applications of VOC data: Personas. Perhaps you’ve asked them to provide their income level or the purpose of their visit; maybe you are interested in identifying their persona or status level in your loyalty program.

Voice of Customer 68

Voice of Customer Multi-Channel Feedback Hotels 68