Currency Alliance

OCTOBER 12, 2020

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 programs must evolve to keep customers engaged.

Loyalty 98

Loyalty Marketing Loyalty Programs Banking 98

Currency Alliance

FEBRUARY 20, 2023

This article on the loyalty rules engine is probably the second-most important article I will ever write on loyalty marketing*. It is the most powerful, yet under appreciated module (or tool) in a loyalty marketing stack of software. This would not require much of a rules engine – since your program has no variation.

Loyalty 52

Loyalty Loyalty Programs Social Media ROI 52

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.

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

Currency Alliance

MARCH 28, 2023

The term ‘pay with points’ implies that a customer can burn loyalty points or miles at a point of sale as the method of payment. It also implies that the customer can do this quite easily and freely, across a large proportion of a brand’s inventory, in its primary commerce channels.

Loyalty Programs 52

Loyalty Programs Loyalty Hotels Airlines 52

Lumoa

APRIL 7, 2022

The NPS system was created by Fred Reichheld and his team at Bain & Company and Satmetrix Systems in 2003 to help companies improve their marketing strategies to better serve customers’ needs with real, verifiable data that they could analyze and act on. while the average NPS score for the banking industry is 23.6,

NPS 208

NPS Net Promoter Score Industry How To 208

West Monroe

JANUARY 25, 2022

It is also assumed that M&A will be a hot topic in 2022 as banks look for new growth opportunities and to increase the speed at which they can invest and scale their technology platforms. Payment and monetary disruption: the rise of crypto in mainstream banking. This outlook will not include an analysis of M&A trends.

Banking 52

Banking Financial Trends Multi-Channel 52

West Monroe

DECEMBER 11, 2022

This means that at a time when banks are poised to generate “cycle” high-net interest margins, they’re instead forced to prepare for volatility: increasing loan loss reserves, optimizing their workforce, and scrounging for deposit bases. Facing an economic downturn, banks should play offense.

Banking 52

Banking Marketing Self Service Financial 52

Currency Alliance

OCTOBER 12, 2021

Loyalty partnerships with complementary brands are the best way to create additional value, for customers and for your business. Depending on the maturity of your loyalty program, you may already have some program partners, or be a partner in somebody else’s program. How loyalty partners co-create value.

Loyalty 59

Loyalty Loyalty Programs Airlines Travel 59

Experience Investigators by 360Connext

NOVEMBER 26, 2014

Relationships are like banks. That way, there’s always something in the bank for a withdrawal.”. Apply this idea to relationships with customers , and you’ll see everyone, whether customer or company, needs to make a withdrawal from the relationship bank at times. It’s in the bank!

Banking 286

Banking Loyalty Culture Social Media 286

SmartMessage Blog

NOVEMBER 22, 2020

Due to the Covid-19 pandemic, Banks had to transform their customer approach as branches have been or are still closed down. We saw a necessity to be able to serve customers from distance with the help of technology. From onboarding to loyalty, customer journeys have been re-designed with the use of Digital Channels.

Banking 52

Banking Engagement Omni-Channel Chatbots 52

Lumoa

AUGUST 8, 2023

Effectively analyzing survey results can provide numerous benefits, such as enhanced customer satisfaction, increased sales, and improved brand loyalty. This shows the tangible, bottom-line benefits of listening to your customers. Let’s check out the types of questions that can supercharge your VoC surveys.

Analysis 208

Analysis Survey Feedback How To 208

NICE inContact

JUNE 11, 2019

It’s hard to think of the downsides of digital customer care, but there are a few industries that really can benefit from integrating digital channels and a more personalized approach to omnichannel: telcos, online retailers, and banks. It’s no secret that banks have a customer service problem.

Industry 136

Industry Self Service Customer Service Banking 136

Experience Investigators by 360Connext

JUNE 22, 2021

There is often a love story in the beginning, and then throughout the relationship the love and even loyalty can wane and drift. In one research study published by the International Journal of Applied Business and Economic Research , Gurpreet Singh, Inderpal Singh and Sandeep Vij identified four antecedents to customer loyalty.

Customer Journeys 297

Customer Journeys e-support Customers Loyalty 297

CSM Magazine

MAY 24, 2021

With the pandemic remaining widespread, business owners are now asking the question—how to maintain strong customer engagement during COVID-19? Reinventing Customer Engagement. Customer engagement is the process of strengthening your emotional connection with your customers. Keep Your Lines Open.

Customer Engagement 52

Customer Engagement Engagement Social Media How To 52

Customer Bliss

MARCH 23, 2017

These bank robbers enter a bank, but because their mobile phone pinged the Experience Cloud, a teller can ID the first robber — and knows he is interested in purchasing a house. ” “Even the most challenging customers” made me laugh a little bit. The second robber says “You moving out, man?

Customer Journeys 173

Customer Journeys Customer Experience Banking Loyalty 173

Thunderhead

JULY 2, 2018

Of all the industries, they have a very genuine association with customer engagement – and are uniquely placed to achieve this. Of all the industries, Building Societies have a very genuine association with customer engagement– and are uniquely placed to achieve this. Trust is at an all-time low”.

Customer Engagement 40

Customer Engagement Engagement Banking Financial 40

SurveySparrow

JANUARY 7, 2021

Whatever situation your customer faced, the value of providing a great customer experience hasn’t changed a bit for businesses. In fact, brands started to put more attention on improving their customer engagement. Customer Engagement in Pre-Covid World. So, what’s the wait?

Customer Engagement 52

Customer Engagement Engagement Chatbots Effort Score 52

West Monroe

OCTOBER 19, 2022

It’s well understood that a customer’s experience drives their loyalty: 80% of customers say the experience is as important as the product or service itself. And in financial services, we know that loyal customers will bring increased wallet share. Managing Director – Silicon Valley Bank.

Customer Service Strategies 52

Customer Service Strategies Strategy Customer Service Banking 52

Ecrion

OCTOBER 26, 2018

Banks have had to deal with many issues that have driven customers away over the past several years — from unethical practices, to an increase in fees, to competition from other banks and financial institutions. This is why CCM for banking can help financial institutions as we approach the new year.

Banking 49

Banking Financial Omni-Channel Social Media 49

Experience Investigators by 360Connext

SEPTEMBER 15, 2014

Customer convenience is continuing as a key driver in loyalty , but the desire to get things done conveniently is not new. We started to bank via drive through in 1946! Before you start making changes to your experience to make it more convenient for customers, please make these considerations: 1.

Ecommerce 282

Ecommerce Banking Loyalty Retail 282

CX University

MARCH 18, 2024

The company leverages AI and machine learning to create custom and targeted experiences for customers based on their unique preferences, browsing history, and purchase behavior Benefits of Hyper-Personalization The shift towards hyper-personalization offers benefits for both businesses and customers. Customer Retention.

Customer Experience 52

Customer Experience Retail Customer Retention Loyalty 52

CSM Magazine

NOVEMBER 22, 2023

This disruption has prompted traditional banks and financial institutions to adapt and innovate to remain competitive. Expanded Customer Reach: Paysafe cards provide a payment option for customers who may not have access to traditional banking services or credit cards.

Banking 52

Banking Financial Retail Loyalty Programs 52

Forrester's Customer Insights

JULY 16, 2020

COVID-19 is recasting the foundations of the future of banking and reshaping the digital agenda and priorities for many banks. Alyson Clarke and I have been interviewing financial services experts around the globe as part of our upcoming research report on the future of banking. We see four clear themes forming in the research.

Banking 35

Banking Financial Report Connections 35

Forrester's Customer Insights

OCTOBER 1, 2019

Customer experience leaders grow revenue faster than CX laggards, drive higher brand preference and loyalty, and can charge more for their products. So how well do banks earn loyalty with the quality of their customer experience? Based on a survey of more than 101,000 […].

Banking 28

Banking Customer Experience Loyalty Survey 28

CSM Magazine

NOVEMBER 10, 2022

Financial services leaders are increasing their focus on digital-first initiatives to optimize the customer experience and increase retention and loyalty – a trend that emerged out of pandemic necessity and became a preference that is here to stay. AI is the common thread that untangles the more cumbersome parts of customer engagement.

Financial 52

Financial Banking Customer Experience Self Service 52

West Monroe

OCTOBER 19, 2022

It’s well understood that a customer’s experience drives their loyalty: 80% of customers say the experience is as important as the product or service itself. And in financial services, we know that loyal customers will bring increased wallet share.

Customer Service Strategies 40

Customer Service Strategies Strategy Customer Service Banking 40

West Monroe

MAY 31, 2019

The three largest banks in the United States are all leveraging chatbot technology in one way or another, with JP Morgan piloting a virtual assistant for corporate treasurers , Wells Fargo piloting a Facebook Messenger-based customer service bot , and Bank of America rolling out their branded, app-based conversational assistant ‘Erica’.

Banking 40

Banking Financial Self Service Chatbots 40

CloudCherry

MARCH 19, 2019

While these metrics can help CX and marketing teams tell descriptive stories about the state of the customer’s experience, they aren’t credible when it comes to making business decisions. NPS was always meant to be a proxy for true customer loyalty, because we didn’t have the means to measure it before. The takeaway?

Financial 218

Financial Metrics Customer Journeys NPS 218

SurveySparrow

JUNE 28, 2023

By tapping into individual preferences and needs, personalization enhances customer satisfaction and boosts loyalty, influencing repeat business. Thus, it fosters customer engagement, driving an uptick in conversion rates. Through its loyalty program, Starbucks rewards customers based on their purchasing habits.

Industry 52

Industry Tips Customer Experience Healthcare 52

BirdEye

NOVEMBER 20, 2023

We’re living in an era of customer engagement, where every delighted client can become your best marketer. This strategy transforms satisfied customers into brand champions who actively refer new business. Yotpo Yotpo leverages customer reviews to boost referral efforts.

Software 62

Software Marketing Multi-Channel e-support 62

Currency Alliance

APRIL 23, 2019

Chuck Ehredt sat down with Steve Hoban, who recently returned to the UK after spending 11 years working for Pick n Pay in South Africa, to discuss brand collaboration in loyalty schemes. In such a context, the extra value that a loyalty program can deliver to customers was probably meaningful to many people.

Loyalty 40

Loyalty Marketing Loyalty Programs Brands 40

Currency Alliance

JANUARY 22, 2020

The top loyalty jobs are tough. Every CEO waxes lyrical about the importance of loyalty. Every CFO knows a loyal customer is many times more profitable than others. Rewards programs have not, historically, earned consistent loyalty across all customer segments. Points alone don’t earn much loyalty.

Loyalty 40

Loyalty Brands Loyalty Programs Rewards Programs 40

Experience Investigators by 360Connext

JULY 23, 2015

Commercials claim generation after generation has banked at Bank of America , so why wouldn’t we? Thanks to the #occupy movement, many big bank customers are still defecting to smaller banks and credit unions. Customers are constantly reevaluating not just your product, but the entire experience.

Banking 110

Banking Social Media Innovation Consulting 110

TechSee

JANUARY 26, 2021

In Gartner’s analysis, proactive engagement with customers on digital platforms is a key strategy to increase loyalty and serves as an opportunity. According to Gartner research, by 2025, 40% of customer service organizations will become ?profit profit centers by implementing digital customer engagement.

Trends 124

Trends Customer Service Contact Center Financial 124

BirdEye

JULY 7, 2023

Still, this technology sometimes struggles to understand complex or nuanced customer questions. Sometimes, it’ll completely miss the context of a sentence during customer engagement. The chatbot may respond with irrelevant and generic answers that anger or frustrate customers.

Chatbots 96

Chatbots Customer Service Social Media Banking 96

Hallmark Business Connections

NOVEMBER 16, 2020

With just a few tweaks of your customer experience processes, you can make a difference in people’s lives while simultaneously building brand reputation and loyalty. It all starts with equipping your employees with customer engagement tool kits. How to Make Customer Engagement Tool Kits That Work.

Tools 62

Tools Company Customer Experience Banking 62

CloudCherry

OCTOBER 25, 2018

Raju Nair – MD & Regional Head Customer Journey Experience – DBS Bank. Aylwin Tan – Chief Customer Solutions Officer – Ascendas-Singbridge. Alp Altun – Executive GM Transformation & Customer Operations – Asia IAG. Here’s what we learned. It comes from the top down.

CEM 170

CEM ROI Metrics Call Center 170