Currency Alliance

JUNE 16, 2020

While travel and retail brands have made a lot of progress in the last 24 months, the bulk of innovation has come from other consumer sectors – including media businesses, entertainment, and telecoms providers, which in recent years appeared to regard loyalty as a lost cause. Hybrid points programs.

Magazine 52

Magazine Loyalty Innovation 2020 52

BirdEye

MARCH 24, 2023

And people are four times more likely to buy when referred by a friend. The following are a few tips to encourage referrals: Create a customer loyalty program. Build a strong customer referral program. Identify your strengths Brand strengths refer to the value that your business delivers to your customers.

2023 98

2023 Return on Investment Social Media Sales 98

BirdEye

MAY 8, 2023

It refers to the steps taken to search for and engage potential customers. Or by starting a loyalty program, where they receive rewards for each referral. In fact, direct mail has a higher ROI than paid search, online display, and text messaging. Track and measure your efforts Tracking your efforts provides valuable data.

Sales 52

Sales Social Media Multi-Channel Events 52

Currency Alliance

JUNE 11, 2019

The smart ones kept a loyalty strategy even if they eliminated the points, but some foolishly acted as though their rewards program was their loyalty strategy – and threw the baby out with the bath water. For a time, banks hoped that third-party CLO providers would help banks achieve their loyalty goals.

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

ProProfs Chat

MAY 6, 2020

Customer Experience ROI Statistics. Customer Experience & Loyalty Statistics. Such experiences prompt customers to get shop more frequently and refer the brand to others too. Customer Experience ROI Statistics. To gain higher ROI for your business, it is important that you offer the best possible customer experience.

2020 66

2020 Customer Experience E Commerce E-support 66

Thematic

MARCH 27, 2024

Customer churn refers to the percentage of customers who stop doing business with a company within a given period. By carefully analyzing customer feedback and behavioral patterns, you gain the power to anticipate potential churn and take proactive measures to improve customer retention. What is customer churn?

Feedback 62

Feedback Net Promoter Score Customer Centricity Customers 62

Currency Alliance

DECEMBER 17, 2019

This has mostly been via low-investment, tactical approaches that increase ROI, and educate the C-suite regarding long-term strategic value. Faced by this looming ‘perfect storm’ of change, the sheltered existence, that many leading loyalty programs have enjoyed for three decades, is coming to an end. An uncertain future.

Loyalty 64

Loyalty 2020 Loyalty Programs Travel 64

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

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 wasn’t even an afterthought. of budget, down from 6.6%

Loyalty 45

Loyalty 2019 Loyalty Programs 2018 45

BirdEye

OCTOBER 27, 2023

Encourage satisfied customers to refer others. Run “refer a friend” campaigns using email, text, and social media. This determines the marketing ROI–Your marketing efforts succeed if they attract enough customers to generate sales above your CAC. Use digital marketing for online visibility. Take customer feedback.

Social Media 57

Social Media Multi-Channel Advertising Customer Retention 57

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 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

Pointillist

JUNE 15, 2018

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. It would be easy to define and measure if we relied on the customer to indicate they are no longer a customer. How to Measure Customer Retention.

Customer Retention 110

Customer Retention Loyalty Programs Customer Journey Loyalty 110

BirdEye

NOVEMBER 10, 2023

Birdeye has given us another way to measure our onsite project managers, get customer results, dramatically increase the number of reviews, and significantly cut down the labor hours required to obtain these reviews. But, most customers would not think to refer their friends to your business without a prompt.

Marketing 57

Marketing Social Media Advertising Books 57

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

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

SurveySensum

SEPTEMBER 8, 2023

This small case study shows that when companies move beyond the traditional customer satisfaction metric and rigorously measure NPS , they can find ways to make customers happier, which, in turn, can lead to increased revenue. Yet most businesses struggle to move beyond measuring their NPS. NPS can be a big help here.

NPS 52

NPS ROI Social Media Banking 52

SurveySparrow

SEPTEMBER 20, 2022

Clients referring us to their friends or relatives is so much more powerful than any advertising we could ever do.”. It’s very logical: There is proven ROI in doing whatever you can to turn your customers into advocates for your brand or business. Want to measure your customer satisfaction score?

Customer Success 52

Customer Success Airlines Net Promoter Score Advertising 52

SmartKarrot

OCTOBER 15, 2020

And you are soon to see a greater return on investments (ROI). It is because CAC measures your capability to produce new revenue from marketing and sales expenditure. Various sources have been referred to gather these insights. . Simply put, the lesser the value is for CAC, the better it is for your company. Basic CAC Formula.

Loyalty Programs 19

Loyalty Programs Metrics Financial Customer Success 19

Pointillist

MAY 23, 2018

Measure the impact of customer behavior on KPIs (e.g. Once your customer data is unified, then the separate pieces of data that have been collected on each individual customer must be associated through identity matching—a process that recognizes which data actually refers to the same customer. Journey Discovery. Journey Orchestration.

Customer Journey 90

Customer Journey Customer Journey Mapping Touchpoint Multi-Channel 90

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.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

SurveySensum

MAY 11, 2023

One way to do this is by using Net Promoter Score (NPS), a simple and widely used metric that helps businesses measure customer satisfaction, benchmark their performance against competitors, and identify areas for improvement. But is it really the best way to measure customer loyalty and build healthy relationships?

NPS 52

NPS Retail Net Promoter Score Customer Satisfaction 52

ProProfs Chat

JULY 21, 2020

A study by Bain and Company found that after 10 purchases, your customers are likely to refer 50% more people as compared to one time purchasers. Reach is the initial stage which refers to the potential of a business to gain the attention of its target audience. Recommended Read: How To Build A Customer Loyalty Program.

Management 52

Management Loyalty Programs Loyalty Competitive Advantage 52