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Many of the entrants to this years’ Loyalty Magazine Awards were as adept with data and technology as marketers in many other disciplines. Voxi is the ‘youth brand’ of Vodafone, whose highly successful VeryMe rewardsprogram has previously been praised by Currency Alliance. A disloyal generation? Fighting on multiple fronts.
The ROI Value In Better Customer Service. Loyalty rewardsprograms. In addition, a positive customer experience will create brand loyalty and better customer retention and encourage them to become brand ambassadors of your brand, recommending your offerings to all their friends and family. Thoughtful email marketing.
Banks have been in and out of rewardsprograms for decades – but their focus ebbs and flows depending on the economic cycle as well as the regulatory framework. Compounded in Europe by the slashing of interchange fees, banks have been left with reduced margins from which to carve out rewards value[v]. References. [i] ii] [link].
At the Loyalty Surgery this year, IBM’s Greg Land said that their modern martech trial at Malaysia Airlines performed extremely well, delivering a 43% improvement in ROI. Brands reward more touchpoints to grow emotional loyalty. Rewardprograms are changing, but they are not going away. The tide is turning. References. [i]
The most important priorities are: Align with corporate goals: update loyalty program design to support current business objectives. Customer data: maximize ROI. You can see this in the Gartner CMO survey: Loyalty marketing has traditionally suffered from the difficulty in measuring ROI (especially in the short-term).
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