Currency Alliance

JUNE 11, 2019

A 2018 Collinson study reported that 66% of financial services professionals say their bank “does not understand why customers are loyal or have a strategy to strengthen customer relationships”[i]. People are more likely to leave their spouse than their bank[ii], so it might seem that banks have no case to answer. Extra what?

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

Currency Alliance

APRIL 15, 2024

Plus, many types of points are widely appreciated by customers, and are useful to the brand for scoring different customer actions while influencing behavior. Many loyalty program members will now be accustomed to similar liquidity enhancements, such as exchanging your American Express Membership Rewards Points into Avios or Bonvoy.

Loyalty Programs 52

Loyalty Programs Loyalty Airlines Banking 52

Retently

MARCH 18, 2019

Well, by far the most effective way to measure customer satisfaction and loyalty is via the Net Promoter Score. After all, brands with high customer retention are usually companies with high NPS score. Market Leaders’ NPS Scores. So, what do those high scores translate into, specifically? Airbnb Customer Retention.

Net Promoter Score 131

Net Promoter Score Omni-Channel Company NPS 131

Currency Alliance

MARCH 21, 2019

Points Bank. It is also restrictive from a campaigning standpoint: making it harder to take advantage of your whole marketing inventory for loyalty purposes, or to compare how different segments are reacting to different marketing efforts across different channels. Points Bank. Campaign Management. Loyalty Rules Engine.

Loyalty 58

Loyalty Banking Loyalty Programs CRM 58

Currency Alliance

JUNE 19, 2019

More enlightened marketers, on the other hand, see points as a way to keep score of customer actions at many different touchpoints along complex customer journeys. This effort is a marked improvement. ING’s efforts won them the “Best Loyalty Programme of the Year – Financial Services” prize. Kudos to them.

Loyalty 49

Loyalty Loyalty Programs Gamification Airlines 49

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 How To Hotels 40

Currency Alliance

FEBRUARY 26, 2019

We believe these trends will occupy most brands’ efforts during 2019. An example of effective alignment of strategy with tactics include Australia’s Coles Supermarket chain and its flybuys reward program. This sounds remarkably simple, but this action delivered multiple benefits: driving program engagement.

Loyalty 45

Loyalty Strategy Loyalty Programs Hotels 45