Currency Alliance

MAY 20, 2024

Back in 2017, when interchange fees were slashed by the European Union, most banks’ response was to simply to give up on their loyalty program; this was lazy and a huge strategic mistake. Every bank needs a loyalty strategy – even if they don’t have a points-based loyalty program.

Banking 52

Banking Loyalty Loyalty Programs Travel 52

InMoment XI

SEPTEMBER 1, 2022

How Is Customer Retention Measured? You get a greater return on your investment (ROI) from repeat customers than trying to acquire a first-time customer Even though only 12% to 15% of customers are loyal to a single retailer, they represent between 55% to 70% of the retailer’s sales. Well, let’s do some math here.

Customer Retention 260

Customer Retention Telecommunications Customer Journey Mapping Retail 260

ClearAction

JANUARY 28, 2015

Exploring the Elusive ROI of Customer Experience Management. Investments that entice CXM ROI include CRM, loyalty programs, references, engagement programs, content/digital marketing, alliances, advertising, campaigns, deals, and closing the loop on negative voice-of-the-customer one-by-one. Most likely, yes.

ROI 89

ROI Customer Experience Management Customer Experience Management 89

SurveySparrow

JANUARY 5, 2021

They’re not aware of the benefits of employee experience, or they don’t know how to measure the returns on employee experience. However, businesses may find it hard to measure the returns on employee experience. We are quite familiar with the term, ROI or returns on investment. What is Return on Employee experience?

Employee Experience 52

Employee Experience Measurement Net Promoter Score Return on Investment 52

BirdEye

MARCH 10, 2022

How to calculate customer experience ROI What to look for in a customer experience software Get started with Birdeye. Why customer experience is key for loyalty programs. A loyalty program is a marketing strategy designed to encourage customers to continue to shop at or use the services of a business.

Customer Experience 98

Customer Experience Loyalty Programs Touchpoint Net Promoter Score 98

Qualtrics

DECEMBER 8, 2020

Get started today with our simple guide to measuring brand equity What is brand equity and why does it matter? Learn more: Read our Ultimate Guide to Brand Equity to understand how brand equity is defined, how to build positive brand equity levels and how to consistently measure it over time. 7 ways to measure brand equity.

Measurement 59

Measurement Brands Net Promoter Score Social Media 59

Currency Alliance

DECEMBER 4, 2023

Loyalty trends, as we’ve said in our previous years’ trends articles, are interesting to think about – but they are not necessarily reflective of what your own brand should be focusing on in the next year. The article covers the various brands which have joined the Scene+ loyalty coalition.

2024 59

2024 Loyalty Marketing Loyalty Programs 59

CX University

FEBRUARY 27, 2018

Part of the Series: Financial Measurement is Critical for the Future of CX. Measuring Incremental Profit for CX Programs. CX practitioners need to compare the profit of the business after implementation of their CX program to what the profit would have been without the CX program.

Measurement 63

Measurement Financial Return on Investment Loyalty Programs 63

SuiteCX

JULY 7, 2017

Customer engagement consulting agency, Ellipsis, has joined forces with Data Republic on a new data product offering aimed at helping brands better measure customer loyalty investments. The Return on Loyalty product is based on anonymised, aggregated transaction-level data from Westpac, exchanged via Data Republic’s platform.

Loyalty 40

Loyalty Measurement Loyalty Programs Automotive 40

SuiteCX

JULY 7, 2017

Customer engagement consulting agency, Ellipsis, has joined forces with Data Republic on a new data product offering aimed at helping brands better measure customer loyalty investments. The Return on Loyalty product is based on anonymised, aggregated transaction-level data from Westpac, exchanged via Data Republic’s platform.

Loyalty 40

Loyalty Measurement Loyalty Programs Automotive 40

Currency Alliance

DECEMBER 11, 2023

Unless the volume of business is high, there is never a positive return on investment (ROI). For this reason, only very large partners end up collaborating even though the loyalty program members engage with thousands of medium or smaller potential partners on a daily basis.

Loyalty 52

Loyalty Loyalty Programs Document Brands 52

Optimove

APRIL 4, 2023

Combining real-time and scheduled campaigns helps marketers create more effective, relevant, and efficient messaging that delivers better results and drives greater ROI. Better measurement: It becomes simpler to gain actionable insights and make data-driven marketing decisions about future campaigns using both approaches.

Loyalty Programs 52

Loyalty Programs ROI Demo Loyalty 52

ENGAGE.cx

MARCH 19, 2017

Part 3 – Operationalizing Stickiness…Loyalty’s Holy Grail. Click to download The New Loyalty 3 part series. We’ve learned in the earlier posts that if you’re continuing to invest in traditional loyalty programs, you’re spending money on outdated techniques and, worse yet, you may be losing more customers than you gain.

Loyalty 40

Loyalty Measurement Brands ROI 40

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

BirdEye

APRIL 7, 2023

Measuring the success of your marketing efforts the right way is crucial. Measure the efficiency of your campaigns while they are running to see what can be done to improve them. Marketing key performance indicators or KPIs are metrics you can measure to see if your campaigns are going as per plan to achieve the set goal.

2023 52

2023 Marketing Social Media Return on Investment 52

SmartKarrot

DECEMBER 4, 2020

Any business function that you deploy towards your business goals must be measurable and generate returns. But as customer retention became a major goal for these companies, customer success ROI started paying off. Importance of measuring customer success ROI. So, let’s see why measuring ROI is helpful in business.

ROI 10

ROI Measurement Customer Success Return on Investment 10

Thematic

MARCH 27, 2024

By carefully analyzing customer feedback and behavioral patterns, you gain the power to anticipate potential churn and take proactive measures to improve customer retention.   Loyalty programs or targeted incentives can help retain higher-risk customers and demonstrate your commitment to providing a positive customer experience.

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

BirdEye

NOVEMBER 20, 2023

Ambassador Ambassador is a versatile platform that manages referral, affiliate, and influencer marketing programs all in one place. It offers customizable campaigns, real-time tracking, and powerful analytics, helping businesses to identify key influencers and track ROI. Yotpo Yotpo leverages customer reviews to boost referral efforts.

E Commerce 62

E Commerce Marketing Multi-Channel E-support 62

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

BirdEye

APRIL 20, 2023

Better ROI Localized lead generation can produce a better return on investment (ROI) by streamlining your marketing efforts to target customers who are more likely to convert. You can offer free product samples, exclusive deals, or even points if you’re running a customer loyalty program to get them to refer more people.

Social Media 98

Social Media Multi-Channel Metrics Advertising 98

Lumoa

JUNE 26, 2023

You can also send SMS surveys to post transactions or during purchases to measure customer satisfaction. Most omnichannel customer experience challenges can be solved by continually measuring customer satisfaction metrics and taking quick actions based on the insights. Want to avoid these mistakes?

Omnichannel 83

Omnichannel Customer Experience Net Promoter Score Social Media 83

Currency Alliance

JUNE 1, 2020

Loyalty marketing is a mix of science and art, but in its most basic form, loyalty programs are a value exchange. I hate bashing the industry, but a great many loyalty programs still don’t even have this basic equation right. They don’t use the data that customers provide. It is making people more deliberate.

Loyalty 72

Loyalty Consumers Marketing Loyalty Programs 72

Currency Alliance

MARCH 30, 2022

In recent years, brands have invested more in loyalty. At many businesses, however, loyalty teams still attract relatively few resources compared to the ROI that loyalty can deliver when best-practices are observed. but within a few years it had become South Africa’s leading loyalty program.

Loyalty 52

Loyalty Loyalty Programs Airlines Hotels 52

Confirmit

OCTOBER 18, 2018

Preventing customer churn is also in essence the main objective of most customer experience programs, and often the most tangible one as linking customer loyalty to revenue from repeat business and positive word of mouth is a well-established way to fund CX improvement efforts, like the development of a new customer loyalty program.

Customer Retention 45

Customer Retention Multi-Channel Net Promoter Score Return on Investment 45

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

delighted

JUNE 30, 2022

Here are the broader reasons why referral programs can be such an effective growth strategy for your business. Casper’s referral program actually has 7x higher ROI than their average marketing investment. Referral programs provide significantly higher customer lifetime values and faster conversion rates than other channels.

Sales 79

Sales Reference Net Promoter Score Loyalty Programs 79

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

DECEMBER 8, 2023

It becomes measurable because you pay only when someone clicks on your ad. This precision enhances the effectiveness of your marketing for carpet cleaners, driving the ROI. Customer loyalty programs: Implement loyalty programs rewarding repeat customers with discounts or exclusive offers.

Marketing 57

Marketing Social Media Advertising B2B 57

BirdEye

OCTOBER 27, 2023

This determines the marketing ROI–Your marketing efforts succeed if they attract enough customers to generate sales above your CAC. Conversion Rate: It measures the percentage of potential customers who take a desired action, such as purchasing or signing up for a newsletter. How do you calculate customer acquisition cost?

Social Media 57

Social Media Multi-Channel Advertising Customer Retention 57

SurveySparrow

FEBRUARY 21, 2020

One of the biggest advantages of using NPS to measure customer satisfaction is that it is simple. Even finding out your loyal customers is a huge advantage as you can get them to be a part of your loyalty program to reap greater rewards. It helps measure the latest interaction your customer had with one of your agents.

Metrics 52

Metrics Customer Experience Net Promoter Score NPS 52

ReviewTrackers

MAY 8, 2017

Session topics include how to make the most of customer feedback , the different elements of ROI, employee engagement, the continued role of NPS in measuring customer satisfaction, agile operations, and in-depth measurement and insight, among others. Where: London, UK.

2017 50

2017 Events Customer Experience Customer Journey Mapping 50

Currency Alliance

FEBRUARY 26, 2021

So, with competition across nearly every category, all companies now need a loyalty strategy. Not every company needs a loyalty program with points, gift cards, or other incentives, but very few businesses can survive without a base of loyal customers that makes up 30-50% of recurring total sales.

Loyalty 59

Loyalty Customer Engagement Engagement Airlines 59

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

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. You must incentivize and run carefully crafted referral and loyalty programs.

Marketing 57

Marketing Social Media Advertising Books 57

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

BirdEye

APRIL 25, 2023

And be sure to collect and analyze the metrics to measure ROI. Loyalty incentives programs Creating a rewards system for customers is a great way to boost loyalty and repeat business. Make sure to update your loyalty program often so it remains fresh and exciting for customers.

Seminar 98

Seminar Social Media Advertising Workshop 98