PK

FEBRUARY 17, 2021

When we think of bank customer loyalty, we think of rewards programs. These programs are usually associated with credit cards, and a few encompass multiple bank products. The post Five bank customer loyalty strategies to avoid appeared first on PK. The latter can […].

Banking 52

Banking Loyalty Rewards Programs Customers 52

Currency Alliance

JULY 16, 2020

A common method to enhance customer understanding is partnering with other companies through loyalty programs. These collaborations allow members to earn and redeem reward currencies across a spectrum of brands. Long-Term Rewards Are Losing to Short-Term Thinking. Each customer may prefer one loyalty currency over others.

ROI 52

ROI Loyalty Loyalty Programs Rewards Programs 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

CSM Magazine

OCTOBER 4, 2023

Ensuring customers can easily redeem rewards may be more complex for organisations that have partnership programmes in place. It’s also crucial to test whether rewards benefits accrue properly. To begin with, when do you offer customers the opportunity to join your rewards program? There are several considerations here.

Loyalty 59

Loyalty Banking Airlines Travel 59

SurveySensum

JULY 9, 2024

Through consistent customer experience, engaging programs, and establishing a sense of community, the coffee giant has created a streamlined experience for customers which they keep coming back to. Their retention strategy includes different reward programs, customized menus, personalized recommendations and offers, and many more.

NPS 52

NPS Loyalty Loyalty Programs 2016 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

Currency Alliance

DECEMBER 13, 2018

Escalating competition across sectors – not a purported “death of loyalty” – is making loyalty harder earned. As a result, major loyalty trends for 2019 will see a wave of innovation as established brands trial new ways to retain share of mind. Loyalty program management’ was reported as CMO’s lowest priority, with 4.8%

Loyalty 45

Loyalty 2019 Loyalty Programs 2018 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

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

Retently

MARCH 18, 2019

Consumers love Starbucks – even more since the company implemented its rewards program. Apparently, customer loyalty was so high that Starbucks’ program ended up holding more money than some banks. So, Netflix has enough time to earn back the money they spend on acquiring new customers.

Net Promoter Score 126

Net Promoter Score NPS Customer Retention Loyalty 126

Service Untitled

OCTOBER 15, 2010

Granted, there is a rewards program, but my usual discount is $1.50, and I have to use it within a few weeks otherwise the offer expires. Incentives for new customers are commonly very aggressively marketed; more than “rewards&# or “discounts&# for current customers.

Blog 44

Blog 2010 Rewards Programs 2006 44

delighted

JUNE 1, 2022

bank, 82% of failed businesses cited cash flow as a factor in their collapse. Start a rewards program. Loyalty programs are an excellent way to reward and recognize customers who stick with you. It steadies your cash flow. A steady stream of orders from your existing customer base stabilizes your cash flow.

Net Promoter Score 74

Net Promoter Score Customer Retention Loyalty Customers 74

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

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

JANUARY 22, 2020

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. Rewards programs have not, historically, earned consistent loyalty across all customer segments.

Loyalty 40

Loyalty Brands Loyalty Programs Rewards Programs 40

CSM Magazine

MAY 24, 2021

Improve Your Loyalty Program. Maybe it’s time you reinvent your loyalty program so you can reward your customers more. Come up with exciting and rewarding offers that your customers can’t easily resist. Point-based rewards programs. Early access to sales and promotions.

Customer Engagement 52

Customer Engagement Engagement Social Media E Commerce 52

Qualtrics

APRIL 22, 2020

Conjoint/MaxDiff is a vital tool to help you understand how consumers’ needs are changing and make decisions going forward that solidify trust in your brand: Customer loyalty — identify what to prioritize in your customer loyalty programs from rewarding customers, to future deals and expanding user credit with additional perks.

Hospitality 29

Hospitality Retail Rewards Programs ROI 29