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?
CSM Magazine
MARCH 22, 2024
Scandinavian banks are a great example of a high-end customer experience. Here are a few successful retention strategies that have been tried and tested by everyone in the niche: Rewards Programs – Rewards programs are like the cherry on top for customers when it comes to choosing a financial service.
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Method:CRM
JULY 15, 2020
From thanking them for their business to inviting them to join your rewards program, staying in touch with your customers after the initial sale keeps them engaged and returning to your business. With a CRM, it’s easy to find and leverage each customer’s history and use this information to connect with them after the sale.
Currency Alliance
APRIL 15, 2024
A high-frequency business, on the other hand, such as grocery stores, banks, and payment card issuers etc, do have sufficient customer frequency, with many customers returning every week. Remember, your loyalty goal is not to issue the maximum number of points, but for the maximum number of customers to see joining your program as worthwhile.
CustomerSuccessBox
MARCH 25, 2021
Banking: 75%. Clients prefer to stay with banks for decades and the only reason they switch is usually tied to relocation or other professional reasons. The telecom companies also lay an emphasis on loyalty and reward programs to retain users. The reason could be low exit barriers and a highly competitive market.
Currency Alliance
OCTOBER 12, 2021
Several airlines and hotel groups did win my preference because of their loyalty program. The Norwegian Rewards program, for example is so transparent that I can redeem my value whenever I want by applying the accumulated points to my next purchase. People often stay loyal to their banks for life. Vueling is similar.
CSM Magazine
MAY 24, 2021
Customer engagement is the process of strengthening your emotional connection with your customers. At the time of this pandemic where physical interactions are eliminated or social distancing is introduced, how will you be able to engage with customers and continue to connect with them on a deeper level? Point-based rewards programs.
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