Currency Alliance

MAY 20, 2024

Calculating likely incremental margin for different customers The real value of a customer is based on the incremental margin they will generate for the business over the span of time they remain engaged. With modern technology, you can even calculate this for each customer.

Banking 52

Banking Loyalty Loyalty Programs Travel 52

Currency Alliance

APRIL 15, 2024

The optimal points to offer mostly depends on the frequency of engagement your brand has with target customers. It has been our experience that customers estimate how much value they can earn from a loyalty program before deciding to join. Customer frequency is partly determined by the nature of your business.

Loyalty Programs 52

Loyalty Programs Loyalty Airlines Banking 52

Comm100

FEBRUARY 6, 2018

Out of all the customer engagement software tools that are out there, which one is right for your company? Different companies have different needs, and a very diverse number of customer engagement tools are waiting to fill those needs. Popular Customer Engagement Software Tools and Who They’re Good For?

Customer Engagement 42

Customer Engagement Engagement Social Media Omnichannel 42

Currency Alliance

DECEMBER 19, 2022

The loyalty team wants access to inventory to use as rewards and incentivize engagement. The key is enabling customers to redeem points with a much higher perceived value than the actual cost of delivery. Improving customer insight and loyalty personalization. However, few are advancing rapidly in this transformation.

Loyalty 52

Loyalty Marketing Airlines Loyalty Programs 52

Currency Alliance

NOVEMBER 4, 2022

Most brands fund loyalty points without any revenue from interchange fees – and they will gladly fund a bank’s loyalty points if they know the program is popular with their existing and potential customers. Rationalizing loyalty ROI vs other marketing channels. Funding points as an incentive should be no different.

Loyalty 52

Loyalty Marketing Loyalty Programs Banking 52

Currency Alliance

DECEMBER 4, 2023

The ability to target investment more precisely, with less wastage, and greater certainty of a positive customer experience, is steadily removing a lot of the uncertainty and risk around brands’ marketing ROI. that have not reinvented their business model, are still limping along, but with modest engagement.

2024 59

2024 Loyalty Marketing Loyalty Programs 59

Currency Alliance

MARCH 28, 2023

It also implies that the customer can do this quite easily and freely, across a large proportion of a brand’s inventory, in its primary commerce channels. the modest number of reward seats that an airline makes available on a flight, or the items curated in a redemption catalog).

Loyalty Programs 52

Loyalty Programs Loyalty Hotels Airlines 52

Alida

SEPTEMBER 22, 2016

Start by clearly defining what your company stands for, developing an understanding of how customers engage with your brand and prioritizing lasting emotional connections with consumers. Visionary Award winners Alliant Energy and the Art Gallery of New South Wales shared how they built the ultimate end-to-end customer journey.

2016 267

2016 Innovation Marketing Insights 267

ProProfs Chat

SEPTEMBER 20, 2019

Following a trip made from Chicago to Paris, Hasan Syed, one of the customers, was frustrated at British Airways’ inability to tackle the issue of lost luggage. Syed thus turned to Twitter and expressed his anger towards the airline. . After all, when a customer loses the luggage, they expect the issue to be resolved at the earliest.

Customer Service 68

Customer Service Airlines Net Promoter Score Customer Retention 68

Currency Alliance

FEBRUARY 20, 2023

Such vendors had very fixed views on how customers should be engaged and rewarded – regardless of how much they knew about the brand’s business, their customer, or their industry. These values can change when they take place in a sequence – i.e., ‘action B’ may be much more profitable if the customer takes ‘action A’ first.

Loyalty 52

Loyalty Loyalty Programs Social Media ROI 52

Hero Digital

MARCH 12, 2019

Instead of trying to integrate all touchpoints at once, create a test case with a high likelihood of delivering an acceptable and short term ROI. To do so, choose one or two customer segments that provide high-value. Alternatively, they could be customers with significant buying power who are at risk of defecting to the competition.

Customer Experience 46

Customer Experience Airlines E Commerce Touchpoint 46

Currency Alliance

OCTOBER 12, 2020

About three years ago, I was flying from Barcelona to New York on United Airlines. This presentation is about driving customer engagement, and how the loyalty industry is transforming in order to engage with the mid-tail and long-tail customer. Loyalty programs must evolve to keep customers engaged.

Loyalty 98

Loyalty Marketing Loyalty Programs Banking 98

Currency Alliance

FEBRUARY 10, 2021

In my opinion, if someone believes they have reached ‘best practice’, then they typically stop thinking about how to create more value for all stakeholders, and simply allow inertia to drive their customer engagement efforts. Transactions are rational, so they appeal very effectively to one half of the customer’s brain.

Loyalty Programs 52

Loyalty Programs Loyalty Touchpoint ROI 52

Currency Alliance

JUNE 1, 2020

Brands that care about their customers have been proactive in communicating that they recognize the severity of the situation, they have taken steps to address it, and they are optimistic that the future will be bright. Brands with loyalty programs have had the opportunity to remain engaged with members during the Covid-19 crisis.

Loyalty 72

Loyalty Consumers Marketing Loyalty Programs 72

Currency Alliance

APRIL 10, 2021

Certainly that’s the case if the outcome will be greater ROI from the department, and an increase in my brand’s NPS score. You might have noticed that several airlines mortgaged their loyalty programs in 2020 for many billions of dollars. Transactions are rational, so they appeal very effectively to one half of the customer’s brain.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

Currency Alliance

MARCH 20, 2020

share customer insight among partners, so you know how to maximize lifetime value for each customer, and can create more personalized engagement. 20 years ago, it cost the customer nothing to participate in a bad loyalty program, because there was no better alternative. Create a list of five important customer segments.

Loyalty Programs 52

Loyalty Programs Loyalty Hotels Travel 52

Currency Alliance

MARCH 30, 2022

At many businesses, however, loyalty teams still attract relatively few resources compared to the ROI that loyalty can deliver when best-practices are observed. This can produce conflicting and confusing customer experiences. Innovating with scant resources. In recent years, brands have invested more in loyalty.

Loyalty 52

Loyalty Loyalty Programs Airlines Hotels 52

Eptica

NOVEMBER 16, 2016

In 2015 he examined the difference in revenue growth between pairs of similar US businesses in five sectors (cable communications, airlines, investments, retail and health insurance). In four out of the five sectors, the company that had a significantly higher customer experience score, had a higher rate of revenue growth.

Sales 54

Sales Customer Experience 2016 Insurance 54

Currency Alliance

DECEMBER 20, 2022

This article shares the lowest hanging fruit for keeping customers engaged and delivering more profit to the bottom line. During 2023, brands will make it easier for more customers to realize value from loyalty program participation. This drove important engagement at low cost. Expect to see more of the same in 2023.

2023 52

2023 Loyalty Innovation Loyalty Programs 52

CX Journey

APRIL 19, 2016

Kevin Kruse defines the ROI or the business impact of employee engagement (which is just one component or measure of the employee experience, along with trust, happiness, satisfaction, retention, etc.) as the Engagement-Profit Chain, which looks like this. as the Engagement-Profit Chain, which looks like this.

Employee Experience 56

Employee Experience ROI 2015 Customer Satisfaction 56

ReviewTrackers

MAY 8, 2017

20:20 Customer Experience Summit by Marketforce gathers 250+ senior CX professionals from across a huge variety of industries, including retail, transport, financial services, media, telecoms, utilities, and more. The ICX Summit is for B2C businesses who are interested in utilizing interactive technologies to enhance the customer experience.

2017 50

2017 Events Customer Experience Customer Journey Mapping 50

Currency Alliance

DECEMBER 17, 2019

For a more engaging read, click here to Currency Alliance Loyalty Strategy Guide 2020. Much of the bad has derived from a lack of belief or understanding from CEOs, who constrain budgets, and prop up short-term earnings with value that ought to flow to customers. build more accurate customer profiles around what they care about.

Loyalty 64

Loyalty 2020 Loyalty Programs Travel 64

Kitewheel

MARCH 25, 2019

With your CX data in hand, marketers and CX Professionals need to highlight what is most immediately concerned for their customers. For a retailer, this might mean rethinking stocking practices so that customer feedback lets you keep up with the latest trends before they fizzle out. Connect channel activities and customer experiences.

Hotels 76

Hotels ROI Customer Journey Retail 76

Currency Alliance

OCTOBER 4, 2023

This is thanks to the quality of data they yield on the customer, and the ability for these partners to enable everyday earn or burn to drive frequent customer engagement. Retailers should prioritize real-time loyalty engagement in-store In a single retail store, you may find hardware and software from several vendors.

Loyalty 59

Loyalty Loyalty Programs Retail Banking 59

Currency Alliance

NOVEMBER 17, 2020

It allows us to keep customers engaged when business plans fly out the window, due to marketplace calamities, such as the Covid-19 pandemic. Each trend supports aspects of the broader business imperative: to be present when and where customers choose to engage.

2021 52

2021 Loyalty Loyalty Programs Travel 52

Currency Alliance

OCTOBER 29, 2019

That’s somewhat true; but there are relatively simple, actionable, tactical steps that brands can take to make step-change improvements in their loyalty engagement strategy. Too many brands still only reward customers with points when making a purchase. Higher points value for customers; bigger profits for brands. Unfair trade.

Loyalty 40

Loyalty Loyalty Programs Hotels Airlines 40

Forrester's Customer Insights

JULY 28, 2016

These businesses are vigorously applying insights to decisions and customer engagements at every opportunity. For these firms prioritizing and coordinating investments in data, technology is not a tortuous process of guest-imating ROIs and long procurement cycles. So who are these predators?

Insights 35

Insights Airlines ROI Retail 35

Currency Alliance

FEBRUARY 26, 2019

Customer data: maximize ROI. Partners: optimize the mix to appeal to a broader array of customers. Emotional loyalty: add incentives along many touchpoints in customer journeys. Every sector is different, but if your customer engagement levels are not in the top 10% of your industry, you have work to do.

Loyalty 45

Loyalty 2019 Loyalty Programs Hotels 45

Storyminers

JULY 6, 2020

She’s got more than 25 years of experience (both client-side and vendor side) helping companies understand their employees and customers and identify what drives retention, satisfaction, engagement, and the overall experience – so that employees, customers, and businesses reap the benefits and achieve their desired outcomes.

Customer Service 59

Customer Service Customer Experience Magazine Books 59

Currency Alliance

JUNE 16, 2020

As more holistic marketing initiatives, loyalty mechanics were harnessed to drive and measure engagement across channels, and across many more customer touchpoints. The incredible degrees of customer engagement that have been achieved, should inspire and guide the efforts of loyalty marketers in the coming year.

Magazine 52

Magazine Loyalty Innovation 2020 52

Pointillist

MAY 23, 2018

More and more marketers and customer experience professionals are now looking for the best customer journey analytics platform to understand and engage with individual customers at a personal level, at scale. Journey Discovery Creates a Bridge Between Customer Behaviors and Business Outcomes. By Steve Offsey.

Customer Journey 90

Customer Journey Customer Journey Mapping Touchpoint Multi-Channel 90

Storyminers

JULY 6, 2020

She’s got more than 25 years of experience (both client-side and vendor side) helping companies understand their employees and customers and identify what drives retention, satisfaction, engagement, and the overall experience – so that employees, customers, and businesses reap the benefits and achieve their desired outcomes.

Customer Service 52

Customer Service Customer Experience Magazine Books 52

Pointillist

JUNE 15, 2018

The answer isn’t acquiring two new customers. Much of the marketing world is still focused on customer acquisition, but to improve customer retention will yield f ar better ROI and cost about 5-25X less than customer acquisition. Customer loyalty programs are proven to have a powerful impact on customer retention.

Customer Retention 110

Customer Retention Loyalty Programs Customer Journey Loyalty 110

Currency Alliance

NOVEMBER 16, 2021

Flexibility around loyalty redemptions is crucial to creating meaningful value for every customer. Rewards that are interesting for less-frequent customers, as well as to frequent customers, motivate every customer to engage more, and increase the share of wallet that they allocate to your brand. Motivation.

Loyalty 52

Loyalty Loyalty Programs Touchpoint Hotels 52

Currency Alliance

NOVEMBER 16, 2021

Flexibility around loyalty redemptions is crucial to creating meaningful value for every customer. Rewards that are interesting for less-frequent customers, as well as to frequent customers, motivate every customer to engage more, and increase the share of wallet that they allocate to your brand. Motivation.

Loyalty 52

Loyalty Loyalty Programs Touchpoint Hotels 52

Currency Alliance

DECEMBER 13, 2018

The outcome for the brands which succeed will be in getting 25-50% more customers engaged with their loyalty strategies. Beyond more accurate messaging, AI should also be able to be used to identify those customers in the mid-tail and long-tail where the brand is getting a low share of wallet. Deeper marketing integrations.

Loyalty 45

Loyalty 2019 Loyalty Programs 2018 45

Currency Alliance

FEBRUARY 10, 2020

Grocers have engaged in counter-productive price wars, which have been found by Australian competitors Coles and Woolworths to undermine customers’ trust[ii]. Despite occupying a very small share of a customer’s disposable income, the Click pharmacy chain boasts 72% of the country’s adult population enrolled (vs.

Loyalty Programs 52

Loyalty Programs Loyalty Hotels Travel 52