2020 Research

SEPTEMBER 1, 2022

In this article, we’ll walk through five takeaways we found in our 2022 US Banking Industry Loyalty Report , so you can better understand how to maintain brand trust: Share the “Why” Behind Your Business’ Purpose. Don’t Expect Your Customers to Be Loyal. Do not expect loyalty from your customers — earn it.

Brands 52

Brands 2022 Banking Advertising 52

Beyond Philosophy

APRIL 3, 2016

The surveying, such as referenced by TD Bank, to identify what drives satisfaction-reducing pain will provide superficial guidance on emotional drivers of desired customer behavior. These are hard investment decisions that come from a deep understanding of customer pain points and a commitment to be better.”.

Customer Satisfaction 92

Customer Satisfaction B2C Banking B2B 92

Beyond Philosophy

APRIL 3, 2016

The surveying, such as referenced by TD Bank, to identify what drives satisfaction-reducing pain will provide superficial guidance on emotional drivers of desired customer behavior. These are hard investment decisions that come from a deep understanding of customer pain points and a commitment to be better.”.

Customer Satisfaction 92

Customer Satisfaction B2C Banking B2B 92

Kayako

AUGUST 21, 2018

What is customer retention? Simply put, customer retention refers to the strategies and tactics businesses use to encourage repeat purchases and ongoing loyalty from their existing customer base. In today’s market especially, consumers want to know their dollar is going farther than your bank account.

Customer Retention 49

Customer Retention Loyalty Loyalty Programs Competitive Advantage 49

Currency Alliance

APRIL 23, 2019

Chuck Ehredt sat down with Steve Hoban, who recently returned to the UK after spending 11 years working for Pick n Pay in South Africa, to discuss brand collaboration in loyalty schemes. In such a context, the extra value that a loyalty program can deliver to customers was probably meaningful to many people.

Loyalty 40

Loyalty Marketing Loyalty Programs 2011 40

ClientSuccess

JUNE 19, 2019

If you think retaining an existing customer is expensive and unnecessary, try acquiring a new one. It will surely get your brain and bank account working overtime. This program rewards users with points for each dollar spent. The result: 20% of its core customer base constitutes of loyal customers who spend the most.

Customer Retention 73

Customer Retention Webinar E Commerce Demo 73

Currency Alliance

JANUARY 22, 2020

Every CEO waxes lyrical about the importance of loyalty. Every CFO knows a loyal customer is many times more profitable than others. 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.

Loyalty 40

Loyalty Brands Loyalty Programs Rewards Programs 40

SurveySparrow

JANUARY 7, 2021

Before the crisis, most SMBs weren’t much aware of the term called employee experience and its impact on customer engagement. Building an engaged customer base requires internal effort. In today’s world, people want to connect with brands they can trust. . Now customers fully depend on digital platforms.

Customer Engagement 52

Customer Engagement Engagement Social Media Net Promoter Score 52

SmartKarrot

SEPTEMBER 3, 2021

In this post, we’ll discuss retention marketing, why it’s essential for your business and some compelling strategies that you can bank on. Retention Marketing is a form of marketing strategy that targets existing customers and keeps them connected to the business. And if you’re losing customers, are you.

Marketing 10

Marketing Loyalty Programs Banking Customer Retention 10

Currency Alliance

DECEMBER 1, 2020

Apart from adapting to mobile apps and ditching plastic cards, the typical loyalty programs in 2020 still operate pretty much the same as they did at the turn of the century. And there are many, many more of these lookalike programs. The customer experience has evolved. Why hasn’t loyalty? Customer singular.

Loyalty Programs 52

Loyalty Programs 2025 Loyalty Multi-Channel 52

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

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. embedding loyalty mechanics across the business.

2023 52

2023 Loyalty Innovation Loyalty Programs 52

BirdEye

SEPTEMBER 11, 2023

Positive customer experiences allow businesses to charge premium rates for their products and services. Apple) High-quality customer experience helps businesses grow loyalty programs and referral campaigns, lowering customer acquisition and retention spending.

Customer Experience 112

Customer Experience Social Media Multi-Channel Omnichannel 112

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

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 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. Without a brand’s uniqueness, customers don’t really care where they shop.

2030 52

2030 Loyalty 2022 Loyalty Programs 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

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. However brands connect the dots, they stand to reap significant benefits.

Loyalty 45

Loyalty 2019 Loyalty Programs 2018 45

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

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. Kudos to them. Or, perhaps the move wasn’t so bold?

Magazine 49

Magazine Loyalty 2019 Loyalty Programs 49

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. Consider a customer looking to buy sports shoes from a popular brand. Follow these below tactics to ensure a seamless, omnichannel customer experience.

Omnichannel 83

Omnichannel Customer Experience Net Promoter Score Social Media 83

ProProfs Chat

DECEMBER 21, 2020

A lot of business owners want to reduce customer churn and retain as many as possible. Stable customer base results in higher referrals, improved upsell revenue and increased lifetime value (LTV) which further results in improved customer acquisition in future. This implies: Never lose sight of your existing customers.

Loyalty Programs 98

Loyalty Programs Customers Loyalty Sales 98

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

FEBRUARY 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? We hear loyalty leaders state all the time that they have embraced ‘best practices’. That’s right, loyalty programs should be a profit center.

Loyalty Programs 52

Loyalty Programs Loyalty Touchpoint ROI 52

Currency Alliance

OCTOBER 27, 2017

Customers expect flexibility and convenience from the companies they do business with because people live in a world where almost everything is accessible with a few clicks on their smartphone. Unfortunately, the customer loyalty sector has not kept pace. How do we define greater liquidity in loyalty programs?

Loyalty 45

Loyalty Customer Engagement Engagement Loyalty Programs 45

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

ProProfs Chat

DECEMBER 17, 2021

To assist the in-app feedback process, Apptentive equips you with real-time data on customer behavior. Related Read: How To Build A Customer Loyalty Program. This in-app feedback tool provides a medium to hear from your customers to make informed decisions for improving your app experience. Source: Instabug.

Feedback 52

Feedback Roadmap User Experience Insights 52

SurveySparrow

SEPTEMBER 20, 2022

An organization is responsible for the happiness of its employees and customers. If you could keep doing that consistently, you can easily make bank. The customer. Every customer who is an ambassador of your brand will be pivotal to your business’s success. Create an organization like that.

Customer Success 52

Customer Success Airlines Net Promoter Score Advertising 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. Demand performance-based KPIs. Part 1: Loyalty program basics.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

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