Currency Alliance
APRIL 15, 2024
This means that loyalty programs are now a more important channel for customer acquisition and retention than ever before. Customer frequency is partly determined by the nature of your business. On the other hand, 60-70% of customers may be motivated to redeem in the currency of a partnered airline or hotel.
Currency Alliance
OCTOBER 12, 2021
The best-known loyalty programs are made up of many partnerships – such as United Airlines and Hilton Hotels, or Emirates and Marriott. The majority of existing partnerships at big loyalty programs are brokered with one goal in mind: creating more value for the most frequent customers. The value can be immediate.
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Currency Alliance
JUNE 16, 2020
In any case, I think the vast majority of practitioners will be as excited as I am, to think what this wave of innovation means for consumers: more brands finding cleverer, more meaningful ways to create compelling customer value. This demonstrates how relatively modest investments can help you tap into a much wider customer base.
Currency Alliance
JUNE 11, 2019
Bribing customers is easy and, as with most easy initiatives, not very profitable. Banks have been in and out of rewards programs for decades – but their focus ebbs and flows depending on the economic cycle as well as the regulatory framework. For starters, it isn’t financially sustainable.
Currency Alliance
DECEMBER 13, 2018
Reward programs still have an important part to play in this effort; but they are only part of the picture. YouGov data from the UK shows that even the youth demographic – supposedly disloyal – thinks that points programs “are a good way for brands to reward customers and 59% think all brands should offer one.”. [iii].
Currency Alliance
FEBRUARY 26, 2019
The future represents much more collaboration among brands to serve common customers more effectively. An example of effective alignment of strategy with tactics include Australia’s Coles Supermarket chain and its flybuys reward program. altering customer behaviour to support corporate objectives, without upsetting people.
Currency Alliance
OCTOBER 29, 2019
Such ‘loyalty’ programs today are actually just rewards programs: ‘you do this and I will do that.’ This is normally in the form of static rules which apply a flat 1%+/- reward across the board. Devaluing your points has a negative impact on all your customers – including the best ones. They may be worth.5
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