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. This year, a continuing key theme in loyalty will be the ability to drive even greater customer value at lower direct cost.

Loyalty 59

Loyalty Trends Data Marketing 59

Currency Alliance

NOVEMBER 4, 2022

This fee is commonly how financial services brands have funded their loyalty rewards for at least the past decade. Within one year, over 100 bank-sponsored loyalty programs in Europe disappeared. Shutting down the loyalty programs was a huge strategic mistake by the banks. Rationalizing loyalty ROI vs other marketing channels.

Loyalty 52

Loyalty Marketing Loyalty Programs Banking 52

Retently

AUGUST 22, 2018

“You can’t have a mid-life crisis in the airline industry, because everyday is a crisis.” – Herb Kelleher. Maintaining an airline is a mess. However, in the pursuit of keeping their operational costs lower, airlines often compromise on one element that has become the crucial competitive differentiator – customer experience.

Airlines 92

Airlines Customer Satisfaction NPS Net Promoter Score 92

Qualtrics

JANUARY 3, 2020

The XM Institute recently published a new report, The ROI of Customer Experience, 2019. It examines the connection between customer experience and loyalty across 20 U.S. It examines the connection between customer experience and loyalty across 20 U.S. Download the full report: ROI of Customer Experience, 2019.

ROI 68

ROI Customer Experience Net Promoter Score Effort Score 68

Currency Alliance

OCTOBER 12, 2020

About three years ago, I was flying from Barcelona to New York on United Airlines. That type of simple recognition goes a great way in building loyalty with customers. This presentation is about driving customer engagement, and how the loyalty industry is transforming in order to engage with the mid-tail and long-tail customer.

Loyalty 98

Loyalty Marketing Loyalty Programs Banking 98

GetFeedback

NOVEMBER 25, 2019

Airlines: 73%. Learn how to use the CSAT metric, boost loyalty, and prove the ROI of your efforts. However, when it comes to industry, CSAT varies. . A new list of benchmarks is published each year by ACSI, with minor quarterly updates. . Below is the complete list of the newest CSAT benchmarks. Ambulatory Care: 77%. Banks: 81%.

Customer Satisfaction 293

Customer Satisfaction Industry Effort Score Apparel 293

Currency Alliance

OCTOBER 4, 2023

Recognizing loyalty program members at the Point of Sale (POS) has been challenging for over 30 years. Large brands with their own loyalty program typically invest heavily to integrate the loyalty platform into one or more POSs, but for smaller and medium-sized companies, this is often out of reach in terms of cost and technical complexity.

Loyalty 59

Loyalty Loyalty Programs Retail Banking 59

Currency Alliance

MARCH 30, 2022

As I reflected on the presentation footage, I decided I wanted to share these principles with the many loyalty professionals I’ve met building Currency Alliance over the last seven years. In recent years, brands have invested more in loyalty. but within a few years it had become South Africa’s leading loyalty program.

Loyalty 52

Loyalty Loyalty Programs Resources Airlines 52

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. Evolution of businesses’ CX functions.

Loyalty 59

Loyalty Customer Engagement Engagement Airlines 59

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. Nobody granted those loans on a whim.

Loyalty Programs 52

Loyalty Programs Loyalty How To Touchpoint 52

Currency Alliance

DECEMBER 20, 2022

Some brands will do this in 2023, but actually, the loyalty & marketing industries have learned from recent experience that this costs you money in the long run. So, while the major loyalty trends for 2023 will be oriented around cost control, this will be accompanied by refocusing investment where it’s most profitable.

Loyalty 52

Loyalty Trends Innovation Loyalty Programs 52

GetFeedback

JANUARY 12, 2020

What’s behind the improved performance is what some call the “loyalty effect.” Great experiences lead to higher levels of customer loyalty which, over time, not only increases revenue growth but also reduces costs. . Say you fly on Southwest Airlines and don’t care for their A/B/C boarding scheme with no assigned seats.

Customer Journeys 221

Customer Journeys How To Touchpoint Airlines 221

Currency Alliance

JUNE 1, 2020

This isn’t just a casual observation, but a sign of a widespread consumer trend which every loyalty marketer should be thinking about. Loyalty marketing is a mix of science and art, but in its most basic form, loyalty programs are a value exchange. One year ago, there might have been 2 people in 50.

Loyalty 72

Loyalty Consumers Marketing Loyalty Programs 72

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. The reason I’m writing this article is that many loyalty teams have, historically, not executed brilliantly.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

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. The functionality in loyalty systems is being broken up.

Loyalty 52

Loyalty Trends Loyalty Programs Travel 52

Currency Alliance

DECEMBER 17, 2019

This is the blog version of our Loyalty Strategy Guide 2020. For a more engaging read, click here to Currency Alliance Loyalty Strategy Guide 2020. There was a mix of good and bad, for loyalty in 2019. The widespread devaluation of loyalty currencies during the past few years brings this into sharp focus.

Loyalty 64

Loyalty Strategy Loyalty Programs Travel 64

SurveySparrow

SEPTEMBER 21, 2020

And in this blog, we’ll discuss how online surveys increase ROI. And, what’s more rewarding is the fact that online surveys can increase your business ROI like never before. Giant companies like Taco Bell, Microsoft, Apple, Southwest Airlines have achieved massive success because of online surveys. The takeaway?

ROI 45

ROI Survey Return on Investment Social Media 45

Currency Alliance

MARCH 20, 2020

There are really only four ways to create value for all stakeholders in a loyalty program: maintain low operating costs, and funnel the savings into rewards. source aspirational redemption options at better cost, so the value of your loyalty currency is magnified. Not every loyalty program seems to appreciate this.

Loyalty Programs 52

Loyalty Programs Loyalty Hotels Travel 52

NICE inContact

AUGUST 9, 2018

For example, if an airline customer live chats with a customer service agent when needing help changing a reservation, the airline could send a survey once their reservation has been re-booked and ask “Overall, how easy was it to change your reservation with [airline] today?” 2) Disagree. (3) 3) Somewhat Disagree. (4)

NPS 122

NPS Metrics Net Promoter Score Customer Service 122

Natalie Petouhof

SEPTEMBER 1, 2016

The report goes into a lot of detail so it’s clear how to calculate the ROI of social customer service: Many brands have experienced incidents where not taking care of an issue turned into a social media nightmare. How to Calculate Social Customer Care ROI. Customer care extends far beyond the traditional call center.

ROI 45

ROI Social Media Airlines Customer Service 45

Currency Alliance

NOVEMBER 16, 2021

Flexibility around loyalty redemptions is crucial to creating meaningful value for every customer. This is really important, because the lifetime value of a customer that reaches a reward soon after joining a loyalty program, or if one sees they are making good progress towards something aspirational, is typically dozens of times higher.

Loyalty 52

Loyalty Loyalty Programs Ecommerce Touchpoint 52

Currency Alliance

NOVEMBER 16, 2021

Flexibility around loyalty redemptions is crucial to creating meaningful value for every customer. This is really important, because the lifetime value of a customer that reaches a reward soon after joining a loyalty program, or if one sees they are making good progress towards something aspirational, is typically dozens of times higher.

Loyalty 52

Loyalty Loyalty Programs Ecommerce Touchpoint 52

Currency Alliance

SEPTEMBER 17, 2019

In this new content series, we show what a world-beating loyalty program would look like in four different sectors, and discuss the brands currently showing the potential to build that ‘world-beating’ program. are now ripe for inclusion in loyalty coalitions. are now ripe for inclusion in loyalty coalitions.

Loyalty Programs 40

Loyalty Programs Travel Loyalty Airlines 40

Eptica

JUNE 24, 2016

Date: Friday, June 24, 2016 The ROI of improved customer experience. In 2015 he published a report looking at the difference in revenue growth between pairs of similar businesses in five sectors (cable communications, airlines, investments, retail and health insurance). Published on: June 24, 2016.

ROI 50

ROI Self Service Customer Experience Airlines 50

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 marketing breaking ground in new sectors. Smarter budgeting.

Loyalty 45

Loyalty Trends Loyalty Programs Rewards Programs 45

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? The answer is simple.

Loyalty 40

Loyalty Loyalty Programs How To Hotels 40

Currency Alliance

JUNE 16, 2020

For most of the last decade, loyalty marketing seemed to be on autopilot for many brands – but the tide is turning. Many of the entrants to this years’ Loyalty Magazine Awards were as adept with data and technology as marketers in many other disciplines. Brilliantly, Voxi has spun this very feature into a loyalty driver.

Loyalty 52

Loyalty Innovation Travel Loyalty Programs 52

Currency Alliance

FEBRUARY 26, 2019

In December 2018, we published what we consider will be the Top 10 Trends in loyalty marketing during 2019. Businesses, their markets, and customer behavior have evolved dramatically in the past 10 years, yet most loyalty programs have only made incremental changes (in some cases to the detriment of customers). A little more context.

Loyalty 45

Loyalty Strategy Loyalty Programs Hotels 45

Currency Alliance

NOVEMBER 14, 2019

The overarching loyalty trend of 2020 will continue to be brands getting to grips with digital transformation. If that sounds like loyalty is late to the party, that’s not necessarily a bad thing. 2020, however, seems likely to be the year in which stars align for a more profitable, productive and open future for loyalty.

Loyalty 40

Loyalty Trends Loyalty Programs Hotels 40

Currency Alliance

NOVEMBER 14, 2018

This challenge – the give-and-take of marketplaces – now firmly belongs on the agenda of loyalty strategy meetings. First, it gives marketers a basic grounding in economics which can directly impact on your loyalty strategy, complete with real-world examples of brands putting the theory into practice. This is a good thing.

Loyalty 45

Loyalty Loyalty Programs Hotels Travel 45

Experience Matters

JUNE 16, 2015

Here’s the executive summary: Net Promoter ® Score (NPS ® ) is a popular metric that companies use to analyze their customer experience efforts, but how does it actually relate to loyalty? Meanwhile, the percentage of those who are likely to try new offerings ranges from 70% for major appliances and software firms down to 52% for banks.

Report 120

Report Net Promoter Score Wireless Airlines 120

C3Centricity

AUGUST 17, 2020

Another CNBC article highlights others including cruises, fitness, energy and airlines. With so much information available today, marketing is being challenged to demonstrate its ROI. It would be good if they used it to increase satisfaction and loyalty, no? Contact us Now. Marketers are too busy building brands.

Strategy 158

Strategy Customer Centricity Social Media Analysis 158

Currency Alliance

OCTOBER 27, 2017

We have seen tremendous change across many industries during the past 40-50 years, and these changes can help predict the next evolution in the loyalty sector. Unfortunately, the customer loyalty sector has not kept pace. Most loyalty programs still retain largely the same design as 20 years ago.

Loyalty 45

Loyalty Customer Engagement Engagement Loyalty Programs 45

Currency Alliance

FEBRUARY 10, 2020

One of the earliest loyalty programs came out of the grocery sector. Broadly speaking, most of the chains’ loyalty efforts have been in proprietary, albeit digitalized versions of the original S&H program: collecting in order to redeem for rewards, some digital couponing, and pushing out offers via a mobile app.

Loyalty Programs 52

Loyalty Programs Loyalty How To Hotels 52

Currency Alliance

JUNE 11, 2019

“Extra” was a 4% interest rate which earned the average working family £100-200 a year – the kind of value you can earn from a supermarket loyalty card. In legacy banking loyalty models, these customers are instead prone to disloyalty in exchange for tiny rewards, and likely to be of very poor lifetime value (LTV) to your business.

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

ECXO

APRIL 26, 2023

High levels of customer satisfaction, loyalty and advocacy are built on well-designed user experiences; products and services that customers want and need. This makes it easier to prove ROI. There are also metrics to measure increases in loyalty such as purchase frequency, average order / basket size, repeat orders etc.).

Chief Customer Officer 52

Chief Customer Officer Net Promoter Score Competitive Advantage ROI 52

NICE inContact

SEPTEMBER 4, 2019

Customer service agents for large companies like major airlines may have to simultaneously utilize half a dozen applications to serve a customer. Why efficient agents = big ROI. What agents really need is a digital customer service solution that’s fast and easy to use. But what does that really mean?

Customer Service 136

Customer Service Contact Center Omni-Channel Airlines 136