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

SurveySensum

JULY 9, 2024

From choosing your favorite types of milk to adding different flavors to create something unique is what makes each and every visit fun and interactive. Along with a polite and interactive customer support team, Starbucks baristas and customer-facing teams are also trained well to be helpful, polite, and interactive with the customers.

NPS 52

NPS Loyalty Loyalty Programs 2016 52

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?

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

Currency Alliance

OCTOBER 4, 2023

Recognizing loyalty program members at the Point of Sale (POS) has been challenging for over 30 years. The result is that it can be difficult for a retailer to deliver a smooth customer experience when identifying their own loyalty program members, or customers in partner loyalty programs, at the POS.

Loyalty 59

Loyalty Loyalty Programs Retail Banking 59

Beyond Philosophy

SEPTEMBER 2, 2019

The second secret is something that we wrote about in our latest book, The Intuitive Customer , that customer loyalty is a function of memory. By definition, you would need to remember that previous interaction to attribute your return to feelings of loyalty. The memory then ties back to the emotions of customer interaction.

Loyalty 141

Loyalty Banking Loyalty Programs Net Promoter Score 141

Currency Alliance

OCTOBER 21, 2024

It has been my opinion for the past 10 years that creating a network of partners to support almost every type of loyalty program is the key to long-term success and creating value for all stakeholders. The purpose of this article is to discuss what mix of partners might be best for achieving these goals in your loyalty program.

Loyalty 52

Loyalty Loyalty Programs Hotels Airlines 52

ShepHyken

JANUARY 7, 2024

Deloitte Shares Loyalty Trends and Best Practices for 2024 by Alicia Esposito (Retail TouchPoints) To drive customer retention and loyalty, most brands and retailers continue to rely on purchase discounts (77%) and loyalty program points (61%), according to Retail TouchPoints research.

2024 72

2024 Article Customer Service Contact Center 72

InMoment XI

OCTOBER 8, 2024

Customer experience improvement refers to enhancing the interactions and overall satisfaction a customer has with your business across all touchpoints. What is A Customer Experience Improvement Program? A customer experience improvement program is a structured initiative designed to enhance the interactions a customer has with a brand.

Customer Experience 195

Customer Experience 2024 Net Promoter Score Financial 195

CSM Magazine

OCTOBER 16, 2024

Special offers for new members and a loyalty program for regular visitors provide additional benefits that increase the attractiveness of the interface and incentives for continued participation. Simple navigation, adapted to any screen, ensures comfortable interaction without the need to get used to it.

Entertainment 52

Entertainment Loyalty Programs Financial E-support 52

West Monroe

MAY 31, 2019

To recap, conversational interfaces are an emerging high-level system design model where interactions occur in the user’s spoken or written natural language. Customer outreach and preventive interactions. Customer intake and on-boarding. Structured, predictable tasks and workflows. Tasks where opening an app is too slow or cumbersome.

Banking 40

Banking Financial Contact Center ROI 40

BirdEye

SEPTEMBER 11, 2023

AI-driven customer experience models employ artificial intelligence technologies to help businesses provide personalized, seamless, efficient, and improved customer interactions. With this, businesses improve and provide personalized customer interaction with the right prompt.

Customer Experience 114

Customer Experience Social Media Multi-Channel Omnichannel 114

CSM Magazine

OCTOBER 23, 2024

For those who prefer live interaction, games with live dealers are available. Loyalty program with several levels allows you to earn points that can be exchanged for bonus funds, free spins and other prizes, making the gaming process even more interesting and profitable.

E-support 52

E-support Loyalty Programs Government Entertainment 52

BirdEye

NOVEMBER 20, 2023

It offers features like visual marketing tools and loyalty program integration to enhance the customer experience. Yotpo’s major features include: Generates and leverages customer reviews Visual marketing features for social proof Loyalty program integration Smart algorithm for targeting Comprehensive analytics suite 7.

E Commerce 64

E Commerce Marketing Multi-Channel E-support 64

SmartKarrot

JUNE 2, 2022

The global loyalty program market stood at approximately $181 Billion in the year 2019. There is an increase in the number of organizations allocating their marketing spending on loyalty programs. There is an increase in the number of organizations increasing their marketing spending on loyalty programs.

Loyalty Programs 10

Loyalty Programs B2B Loyalty Blog 10

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

OCTOBER 12, 2021

Loyalty partnerships with complementary brands are the best way to create additional value, for customers and for your business. Depending on the maturity of your loyalty program, you may already have some program partners, or be a partner in somebody else’s program. I’m a case in point.

Loyalty 59

Loyalty Loyalty Programs Airlines Travel 59

Thematic

OCTOBER 30, 2024

You can collect VoC data through: Surveys Interviews Reviews Social media interactions This data is crucial for understanding customer satisfaction, identifying areas for improvement, and strengthening customer relationships. The example below shows how thematic analysis software can break down customer service interactions.

Voice of Customer 62

Voice of Customer Insights E Commerce E-support 62

Currency Alliance

DECEMBER 11, 2023

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. This is a major opportunity cost for every loyalty program. In this case, the contract is with the third party (i.e.,

Loyalty 52

Loyalty Loyalty Programs Document Brands 52

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. Do not expect loyalty from your customers — earn it. Don’t Expect Your Customers to Be Loyal. The Bottom Line.

Brands 52

Brands 2022 Banking Advertising 52

Currency Alliance

FEBRUARY 20, 2023

It is the most powerful, yet under appreciated module (or tool) in a loyalty marketing stack of software. The loyalty rules engine is the module that enables the types of promotions that are familiar from every major loyalty program. This would not require much of a rules engine – since your program has no variation.

Loyalty 52

Loyalty Loyalty Programs Social Media ROI 52

SurveySparrow

JUNE 28, 2023

In the competitive landscape of today’s business world, the success mantra that resonates among most thriving companies is the strategy of providing a personalized customer experience.This concept is rooted in the understanding that every customer is unique, with their own set of preferences, behaviors, and past interactions.

Customer Experience 52

Customer Experience Healthcare Competitive Advantage E Commerce 52

Beyond Philosophy

JUNE 21, 2015

Virgin knows that emotions play a large part in how the day-to-day interactions transpire and evoking the right ones is essential to having a good experience, whether looking at the Employee’s Experience or the Customer’s. Loyalty Behavior: Do Marketers Get What They Intend?”. I always say that happy Employees make happy Customers.

Employee Experience 160

Employee Experience Customer Experience Loyalty Programs B2C 160

SurveySensum

AUGUST 24, 2023

This feature allows you to purchase items in a single click while remaining on the same page as compared to the ‘Add to cart ’ option where you need to interact with multiple pages to place an order. Bank of America’s Virtual Assistant, ‘ ERICA ’ embodies the synergy of AI and customer-centricity.

Brands 52

Brands Airlines Effort Score Banking 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. The good news is your loyalty program is one of the most effective ways to achieve significant differentiation.

2030 52

2030 2022 Loyalty Loyalty Programs 52

Currency Alliance

MAY 20, 2024

Consumers used to show loyalty to their main bank more or less by default. Now, forward-thinking banks are urgently considering how to keep their payment cards top-of-wallet and expand the stickiness of their relationships with customers over the next decade. which many banks also provide.

Banking 52

Banking Loyalty Loyalty Programs Travel 52

Currency Alliance

MARCH 21, 2019

Making the same progress in loyalty has been much more difficult. The typical incumbent loyalty technology platform comprises five core modules: CRM/Analytics Platform. Points Bank. Loyalty Rules Engine. This analogy must also be true of software companies that deliver loyalty program management systems.

Loyalty 58

Loyalty Banking Loyalty Programs Hotels 58

Currency Alliance

JULY 16, 2020

A common method to enhance customer understanding is partnering with other companies through loyalty programs. Let’s look at common spots where loyalty investments are most vulnerable to loss, the benefits of collaboration models and the three best opportunities for loyalty spending. It’s a Virtuous Cycle.

ROI 52

ROI Loyalty Loyalty Programs Rewards Programs 52

Currency Alliance

MAY 9, 2022

Behind the scenes, ‘API-enabled’ (or ideally ‘API-first’) implies a technical architecture that allows computer systems to interact with each other – allowing each to perform those tasks for which it was optimized – and that most of the systems are relatively independent in how they operate. Device agnostic.

Loyalty 52

Loyalty Technology Loyalty Programs Multi-Channel 52

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

ShepHyken

JUNE 20, 2016

Here are three great companies, Amazon, Southwest Airlines and TD Bank (I wouldn’t have guessed this last one), that are relentless when it comes to being customer focused. The big take away is the level beyond customer loyalty, which is desire. The concept of desire is loyalty on steroids. That is a big promise to make.

2016 78

2016 Article Customer Service Loyalty Programs 78

Lumoa

JUNE 26, 2023

Engage buyers at every step Customers are constantly interacting with brands, whether through their social media pages or at physical stores. Brands that provide more interactive opportunities for consumers improve their visibility, boost revenue, and also build a loyal consumer base.

Omnichannel 78

Omnichannel Customer Experience Net Promoter Score Social Media 78

ShepHyken

JULY 11, 2016

Championed by the most customer centric brands in the world, such as the Ritz Carlton, the importance yet simplicity of ‘pleases’ and ‘thank yous’ cannot be underestimated in the effect they can have on customers and the way they are made to feel in their daily interactions with organisations and their people.

2016 81

2016 Article Customer Service Loyalty Programs 81

Oracle

OCTOBER 10, 2019

For example, a financial services brand can now see on a single screen a customer’s bank balances, investing activity, credit data, and other products with the bank. This can help identify a customer who’s eligible for a loyalty program or a special rate due to the volume of business.

Financial 50

Financial Technology Banking Loyalty Programs 50

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

MAY 19, 2021

Now, the channels through which consumers interact with brands – often long before the purchase – are as diverse as the way we surf the internet. And increasingly, those interactions take place in environments you don’t control. Ecommerce has changed.

Loyalty 52

Loyalty Touchpoint Loyalty Programs Social Media 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. Most loyalty programs report how many members they have.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

Kayako

AUGUST 21, 2018

Keep track of support interactions and where you can improve to cut down customer frustration. Speaking of support interactions… customer support is one of the most effective tools you have for boosting customer retention and loyalty. Offer a Worthwhile Loyalty Program. Send out a survey to all existing customers.

Customer Retention 49

Customer Retention Loyalty Loyalty Programs Competitive Advantage 49