Currency Alliance

JUNE 19, 2019

This was my second year on the judging panel at the Loyalty Magazine Awards. Really, for those relatively few brands achieving impressive levels of customer engagement, it’s breath-taking how fast the industry has progressed in such a short time. 1. Looking beyond transactional rewards.

Magazine 49

Magazine Loyalty 2019 Loyalty Programs 49

Currency Alliance

JUNE 11, 2019

“Extra” was a 4% interest rate which earned the average working family £100-200 a year – the kind of value you can earn from a supermarket loyalty card. This led many banks in Europe to close their rewards program over the past three years. in 2017[vii]. Customers appreciate the free money, but it simply doesn’t make them loyal.

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

Currency Alliance

DECEMBER 15, 2017

Customers are changing rapidly. Their ever-rising expectations mean that focusing on a loyalty strategy based on price and transactions alone is no longer enough: it will only produce a race to the bottom on price and once someone beats you on price, most customers will switch. The two types of loyalty.

Loyalty 40

Loyalty Loyalty Programs Customer Experience Social Media 40

Currency Alliance

AUGUST 16, 2019

Loyalty programs once enabled relatively personalized marketing. From a standing start of zero customer data some 20 years ago, brands became able to incentivize desired behaviors in highly-predictable customer segments. Value, that is, to a minority of highly-frequent, high-spending customers.

Loyalty 40

Loyalty Insights Brands Loyalty Programs 40

Currency Alliance

FEBRUARY 26, 2019

In December 2018, we published what we consider will be the Top 10 Trends in loyalty marketing during 2019. Businesses, their markets, and customer behavior have evolved dramatically in the past 10 years, yet most loyalty programs have only made incremental changes (in some cases to the detriment of customers).

Loyalty 45

Loyalty 2019 Loyalty Programs Hotels 45

BirdEye

NOVEMBER 20, 2023

Referral marketing is a strategy that encourages existing customers to refer new ones to your business. It’s an organic way that leverages the power of word-of-mouth — the most credible form of advertising — to grow your customer base. Yotpo Yotpo leverages customer reviews to boost referral efforts.

E Commerce 62

E Commerce Marketing Multi-Channel E-support 62

ProProfs Chat

DECEMBER 12, 2019

Customer Service Affecting Customer Retention. 69% of US customers state that customer service is very important to increase customer loyalty for a brand. Customer loyalty and customer service go hand in hand. B2B Customer Retention Statistics. 60% of customers agree to this fact.

Customer Retention 88

Customer Retention Loyalty Programs Social Media Loyalty 88

Thematic

DECEMBER 5, 2018

Think customer loyalty programs are all about getting generic discounts, points and rewards? Today, it’s more about offering customers something as personalized as possible, so that they feel truly special. 3 benefits to improve customer retention with analytics. Reduces cost to acquire customers.

Customer Retention 96

Customer Retention Competitive Advantage 2017 2014 96

ProProfs Chat

JULY 30, 2021

Hence, creating a good brand perception comes with a lot of benefits like increased customer loyalty, ability to face greater competition, and more. (a) a) Easy Introduction of New Products and Services: When you want to launch a new product/ service, it becomes very important to have a solid foundation base in the market.

Brands 111

Brands Net Promoter Score Social Media E Commerce 111

SurveySparrow

JANUARY 7, 2021

Most importantly, they didn’t consider social platforms an effective medium to keep their customers engaged or gain profits. If we look back in 2017 , 28% of the SMBs used to spend only 3-5 hours on social media marketing, 27% spend less than 1 hour! . Building an engaged customer base requires internal effort.

Customer Engagement 52

Customer Engagement Engagement Social Media Net Promoter Score 52

ProProfs Chat

MAY 6, 2020

Customer Experience ROI Statistics. Customer Experience Through Social Media. Customer Experience & Engagement Statistics. Customer Experience & Retention Statistics. Customer Experience & Loyalty Statistics. Customer Experience & Satisfaction Statistics. Future of Customer Experience.

2020 66

2020 Customer Experience E Commerce E-support 66

Thematic

NOVEMBER 13, 2018

In addition, with a well-implemented VOC program, you can better retain your customers – think higher customer loyalty scores, less churn, and a higher customer lifetime value, thanks to repeat purchases. Voice of Customer examples: two success stories. Sky TV identifies why their NPS dropped suddenly.

Voice of Customer 101

Voice of Customer Net Promoter Score ROI NPS 101

Pointillist

MAY 23, 2018

For example, you could automatically communicate with a customer via their preferred communication channel (e.g. Less than half of respondents (43%) in the 2017 Gartner survey characterize their current efforts as “mostly event-triggered.” email, SMS, outbound call) when they reached a defined point in their journey.

Customer Journey 90

Customer Journey Customer Journey Mapping Touchpoint Multi-Channel 90

ClearAction

OCTOBER 1, 2018

A loud warning siren can be heard in study after study showing customers’ and managers’ perceptions to be static over time and lower than desired overall. For example, the 2017 and 2018 Forrester Customer Experience Index TM reveals no companies exceeding 72 on a 100-point scale and very little change in any industry.

Customer Experience 63

Customer Experience 2017 ROI 2018 63

Qualtrics

APRIL 30, 2019

In our latest Customer Experience Visionaries post, Walter Li, Head of Insights at Cathay Pacific , tells us how the airline is creating breakthrough customer experiences to boost customer loyalty and grow its market share. I started as Head of Insights in May 2017.

Feedback 42

Feedback Airlines Loyalty Programs Loyalty 42

Provide Support

JANUARY 25, 2017

It’s probably needless to say that loyal customers are the biggest assets of any business. Studies show that only a 5% increase in your loyal customer base can result in increases of revenue and profits up to 85% or more. Existing customers are 50% more likely to try new products, and spend 31% more than new customers.

2003 65

2003 2017 Loyalty Programs Loyalty 65