InMoment XI

SEPTEMBER 1, 2022

Deploy Microsurveys at Key Touchpoints: Get customer feedback in the moments that matter. At InMoment, we frequently sit down with brand executives and look at real-time metrics that show how much revenue has been recovered due to their closed loop program. Why Is Customer Retention Important? Recover Customers Effectively.

Customer Retention 260

Customer Retention Telecommunications Customer Journey Mapping Retail 260

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

NOVEMBER 4, 2022

This fee is commonly how financial services brands have funded their loyalty rewards for at least the past decade. So how should New Zealand’s banks and brands respond, and how should other brands collaborate with partners to reduce dependency on any single source of funding? Of course, this has happened before in other jurisdictions.

Loyalty 52

Loyalty Marketing Loyalty Programs Banking 52

Currency Alliance

OCTOBER 12, 2021

Loyalty partnerships with complementary brands are the best way to create additional value, for customers and for your business. Depending on the maturity of your loyalty program, you may already have some program partners, or be a partner in somebody else’s program. I’m a case in point.

Loyalty 59

Loyalty Loyalty Programs Airlines Travel 59

Currency Alliance

NOVEMBER 15, 2021

Because each customer segment will respond differently to available loyalty incentives, tailoring the customer experience by segment across channels is essential to maximize ROI. Millions of longstanding loyalty programs are testament to the fact that loyalty marketing can be optimized for the benefit of all stakeholders.

Loyalty 52

Loyalty Loyalty Programs Multi-Channel Banking 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

BirdEye

SEPTEMBER 11, 2023

With AI-driven solutions, you can bring efficiency across customer touchpoints, increase customer satisfaction, support self-service options, and gain valuable insights to deliver highly tailored and engaging interactions. To make this a possibility, Bank of America has implemented an AI-powered chatbot, Erica, that assists customers.

Customer Experience 112

Customer Experience Social Media Multi-Channel Omnichannel 112

SurveySensum

AUGUST 24, 2023

Seamless Account Management with Virtual Assistant – Bank of America Leveraging the power of cutting-edge technologies such as AI chatbots, Virtual Assistants, etc. Bank of America’s Virtual Assistant, ‘ ERICA ’ embodies the synergy of AI and customer-centricity.

Brands 52

Brands Airlines Effort Score Banking 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. Loyalty programs are no different. The good news is your loyalty program is one of the most effective ways to achieve significant differentiation.

2030 52

2030 Loyalty 2022 Loyalty Programs 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.

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.

Loyalty 52

Loyalty Loyalty Programs Touchpoint Hotels 52

Currency Alliance

DECEMBER 11, 2023

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. This is a major opportunity cost for every loyalty program. In this case, the contract is with the third party (i.e.,

Loyalty 52

Loyalty Loyalty Programs Document Brands 52

Currency Alliance

DECEMBER 17, 2019

But there remain some fundamental things that loyalty programs need to achieve to weather the looming storm that open banking, mobile payments, aggregation models, and other marketplace dynamics will bring. More customers will want to earn more loyalty currencies – which is potentially fantastic for all brands.

Loyalty 64

Loyalty 2020 Loyalty Programs Travel 64

Currency Alliance

MAY 19, 2021

Less-technical businesspeople may only care about loyalty technology to the degree that it serves two key objectives: Delivering a consistently good brand experience across all customer touchpoints. If you don’t recognize your customer across every channel and touchpoint, they will feel you don’t care.

Loyalty 52

Loyalty Touchpoint Loyalty Programs Social Media 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. referring friends.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

Currency Alliance

MARCH 21, 2019

Making the same progress in loyalty has been much more difficult. The typical incumbent loyalty technology platform comprises five core modules: CRM/Analytics Platform. Points Bank. Loyalty Rules Engine. This analogy must also be true of software companies that deliver loyalty program management systems.

Loyalty 58

Loyalty Banking Loyalty Programs Brands 58

Lumoa

JUNE 26, 2023

Omnichannel marketing customer experience is a strategy that integrates all marketing touchpoints – both offline and online – to create a seamless customer journey. Building an omnichannel experience helps you access customer data from all your touchpoints. This will help you generate a lot of more leads.

Omnichannel 83

Omnichannel Customer Experience Net Promoter Score Social Media 83

Currency Alliance

NOVEMBER 17, 2020

2021 will be another year in the long-term journey to become customer-centric, balance the economics of loyalty programs to deliver more value to customers, and ensure the right systems are in place to reduce dependencies on the IT department or vendors. Rebalancing loyalty program economics.

2021 52

2021 Loyalty Loyalty Programs Travel 52

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

JUNE 19, 2019

Independent of individual program achievements, the most important development across the industry has not been in individual technological triumphs, but a hastening structural shift in how brands understand and approach the purpose of their loyalty programs. Collecting data at more touchpoints is very useful.

Magazine 49

Magazine Loyalty 2019 Loyalty Programs 49

Currency Alliance

NOVEMBER 14, 2019

Nobody in loyalty could have missed The Times’ headline in October, about the Committee for Climate Change (CCC) proposal to start taxing frequent flyer programs (FFPs), or even to shut them down, under the assumption that they increase flying. Nonetheless, the legacy loyalty points bank kept them from innovating more quickly.

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

MAY 9, 2019

The one thing that will differentiate each provider will be the unique customer data they capture from every touchpoint, and how they put that data into action to deliver a compelling enough value proposition to keep the customer coming back time and time again. Building such habits is precisely what loyalty programs do. .

Loyalty 56

Loyalty Loyalty Programs Airlines Travel 56

Currency Alliance

OCTOBER 29, 2019

The following quote baffles my mind: According to IRI Worldwide, 74% of consumers globally choose a store based on its effective loyalty programme.[i]. If 74% of consumers choose a store based on their loyalty program, then why do few loyalty programs have more than 25% of their customers participating?

Loyalty 40

Loyalty Loyalty Programs Hotels Airlines 40

BirdEye

APRIL 7, 2023

It is also possible that a lead had more than one touchpoint before becoming a customer. If that is the case for your business, make sure to use a tool that can measure multi-touchpoint revenue attribution. By setting this goal, you can work backward and understand what the conversion rates at different customer touchpoints should be.

2023 52

2023 Marketing Social Media Return on Investment 52

Currency Alliance

DECEMBER 13, 2018

At first glance, this year’s Gartner CMO spend survey may not make for happy reading for loyalty marketers. Loyalty program management’ was reported as CMO’s lowest priority, with 4.8% Firstly, loyalty tech isn’t as expensive as it used to be. Loyalty coming to new sectors. of budget, down from 6.6% in 2017[ii].

Loyalty 45

Loyalty 2019 Loyalty Programs 2018 45

Currency Alliance

MARCH 9, 2021

Even if you need to retain your investment in an aging loyalty system, putting cloud-based microservices technology in front of them, as a hybrid approach, opens new worlds of opportunity. In the next three years, what is described in this article about headless loyalty will be commonplace – because the benefits are so significant.

Loyalty 59

Loyalty Customer Engagement Engagement Banking 59

ReviewTrackers

MAY 8, 2017

Customer experience (CX) — defined as “the cumulative impact of all interactions and experiences between your business and the customer, at every touchpoint across the entire customer journey, and viewed entirely from your customer’s perspective” — has become one of today’s most important business benchmarks. CXPA Insight Exchange.

2017 50

2017 Events Customer Experience Customer Journey Mapping 50

Currency Alliance

AUGUST 16, 2019

Loyalty programs once enabled relatively personalized marketing. Partners enable two things, in your loyalty program: capturing data to identify the highly personal ‘something extra’ which incentivizes customers to shop your brand, rather than a competitor’s. The partner mix, therefore, must be revisited.

Loyalty 40

Loyalty Insights Brands Loyalty Programs 40

Currency Alliance

JANUARY 22, 2020

And yet, many loyalty programs are run like barnacles on the side of a business: battling for budget, rather than being nurtured as the core way to engage customers via every channel and touchpoint. Rewards programs have not, historically, earned consistent loyalty across all customer segments.

Loyalty 40

Loyalty Brands Loyalty Programs Rewards Programs 40

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

delighted

JUNE 1, 2022

bank, 82% of failed businesses cited cash flow as a factor in their collapse. Loyalty programs are an excellent way to reward and recognize customers who stick with you. It’s also a good idea to collect feedback from different touchpoints in the customer journey, from transactions to customer service interactions.

Net Promoter Score 71

Net Promoter Score Customer Retention Loyalty Customers 71

SurveySparrow

APRIL 17, 2020

If you intend to foray into B2B eCommerce or wish to improve your eCommerce sales and revenue, here are some proven tips to achieve your business goals without breaking the bank. For example, using live chat software on your customer touchpoints can reduce the response time significantly, enabling you to connect with users in real-time.

B2B 52

B2B B2C Demo Feedback 52

SurveySparrow

SEPTEMBER 20, 2022

Find ordinary interaction touchpoints and make them memorable with the help of technology. If you could keep doing that consistently, you can easily make bank. The next step would be to put them in a customer loyalty program and offer them incentives for each referral. The customer.

Customer Success 52

Customer Success Airlines Net Promoter Score Advertising 52

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

ProProfs Chat

DECEMBER 17, 2021

Related Read: How To Build A Customer Loyalty Program. mParticle assists you with getting an accurate view of your customers across various touchpoints. While you can also bank upon Qualaroo or Quantum Metric if you wish to capture detailed mobile app insights. . Source: Instabug. Source: mParticle.

Feedback 52

Feedback Roadmap User Experience Insights 52