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Punching Above Its Historical Weight: Why Retention Should No Longer Play Second Fiddle to Acquisition

Optimove

Back in 2017, HubSpot research found that “it costs anywhere from 5 to 25 times more to acquire a new customer than to retain an existing one” and that”at some point, your acquisition math will break.”. In 2018, The Loyalty Report – well – reported, that: 70% of customers are more likely to recommend brands with good loyalty programs.

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Punching Above Its Historical Weight: Why Retention Should No Longer Play Second Fiddle to Acquisition

Optimove

Back in 2017, HubSpot research found that “it costs anywhere from 5 to 25 times more to acquire a new customer than to retain an existing one” and that”at some point, your acquisition math will break.”. In 2018, The Loyalty Report – well – reported, that: 70% of customers are more likely to recommend brands with good loyalty programs.

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Consumer banking: money can’t buy loyalty

Currency Alliance

The smart ones kept a loyalty strategy even if they eliminated the points, but some foolishly acted as though their rewards program was their loyalty strategy – and threw the baby out with the bath water. in 2017[vii]. For a time, banks hoped that third-party CLO providers would help banks achieve their loyalty goals.

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Loyalty Strategy 2019: How to Win in the Next Decade

Currency Alliance

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.

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Avoid This Customer Service Mistake with Matt Dixon

Kustomer

When agents are equipped with the right CRM and other data structuring tools they will be able to drive more success and loyalty. Now people hear that and what they say is, well of course because the customer is in a bad spot already. Is Customer Delight Expensive? But that’s all… the data says what the data says.

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The Future of Customer Experience Calls Urgently for a Significant Shift

ClearAction

For example, the 2017 and 2018 Forrester Customer Experience Index TM reveals no companies exceeding 72 on a 100-point scale and very little change in any industry. You’d want to have playbooks that show all players how to navigate to a second down, third down, and of course field goals. CXM Status Quo: Pillars (silos).

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Breaking down the walls: Loyalty Magazine Awards 2019

Currency Alliance

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. ING Direct is one of those brands. Kudos to them.

Loyalty 49