CSM Magazine

MARCH 22, 2024

Loyal customers are the backbone of any business, regardless of niche, but keeping them engaged can be as challenging as landing a fish with a threadbare net. These predictive cues are subtle yet potent forms of engagement that make clients feel understood and prioritized.

Customer Retention 52

Customer Retention Rewards Programs Financial Loyalty 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. Extra what?

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

CSM Magazine

OCTOBER 4, 2023

Today, stamps, vouchers and coupons have mostly been replaced by apps and digital methods of tracking customer engagement. However, part of the value equation needs to assess whether rewards accrue quickly enough for customers to use them, allowing them to take full advantage of the benefits the scheme offers.

Loyalty 59

Loyalty How To Banking Airlines 59

CSM Magazine

JUNE 29, 2022

‘Confidence-Enabling Experiences: The Backbone of Strong Brand Relationships’ is a truly unmissable webinar, featuring insights from senior executives at Nationwide, IHG Hotels, First Horizon Bank & R/GA ! Discover how reward programs can be reworked to actually drive loyalty. Find out more here!

Hotels 52

Hotels Rewards Programs Banking Consumers 52

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. Improve Your Loyalty Program.

Customer Engagement 52

Customer Engagement Engagement Social Media How To 52

Currency Alliance

APRIL 15, 2024

Many people assume that operating a loyalty program necessarily implies issuing your own loyalty points or miles. The optimal points to offer mostly depends on the frequency of engagement your brand has with target customers. This actually is not true. Points and miles are a dominant and popular form of loyalty value.

Loyalty Programs 52

Loyalty Programs Loyalty Airlines Banking 52

CSM Magazine

DECEMBER 10, 2021

Employee engagement is even worse, as 34 percent of North American respondents in the poll said they were actively engaged in their current job. Then use these to build out the right set of touchpoints to make their experience engaging and productive from the beginning. And don’t forget about the employee lifecycle too.

Customer Journeys 98

Customer Journeys Omni-Channel Employee Experience Employee Engagement 98

Currency Alliance

JULY 16, 2020

This article explains how loyalty partnerships among complementary brands can produce more comprehensive customer understanding that drives down cost while strengthening engagement – and how to apportion loyalty investments. These collaborations allow members to earn and redeem reward currencies across a spectrum of brands.

ROI 52

ROI Loyalty Data Loyalty Programs 52

Method:CRM

JULY 15, 2020

This includes details like their: Favorite products Communication preferences Engagement rate with different promotions Buying habits. From thanking them for their business to inviting them to join your rewards program, staying in touch with your customers after the initial sale keeps them engaged and returning to your business.

CRM 95

CRM How To Effort Score Rewards Programs 95

Service Untitled

MAY 6, 2014

If we listen carefully, we learn what our customers need because they will tell us either directly or indirectly, and in order to engage new customers, we often depend on word of mouth and our reputations. Everyone participates in membership rewards programs, but that concierge service and other prestigious discounts come at a price.

Consumers 77

Consumers Rewards Programs Social Media Banking 77

Currency Alliance

OCTOBER 12, 2021

Just like the most frequent customers, engaging the mid-long-tail in your loyalty program will depend on finding complementary brand partners. Having a few partners in each category is key to engaging 50%+ of your customer base. Several airlines and hotel groups did win my preference because of their loyalty program.

Loyalty 59

Loyalty Loyalty Programs Airlines Travel 59

Currency Alliance

MARCH 21, 2019

Points Bank. Change in the legacy loyalty platform, on the other hand, has been difficult and expensive, because the vendor must be supportive, if not fully engaged for nearly any desired change to functionality. And, it makes it difficult to measure the customer´s engagement if they respond in any way. Points Bank.

Loyalty 58

Loyalty Banking Loyalty Programs CRM 58

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.”.

Loyalty 45

Loyalty Trends Loyalty Programs Rewards Programs 45

NobelBiz

JULY 31, 2023

In the contact center world, it’s a carefully designed process that efficiently manages incoming calls, keeping customers engaged with informative on-hold messages while automatically routing them to the most suitable agent. A financial query at a bank differs vastly from a technical issue at a software company.

Communication 52

Communication Call Center Wait Times Contact Center Software 52

Beyond Philosophy

OCTOBER 10, 2016

But there is also Zappos and Starbucks, Bank of America or Goldman Sachs or Amazon and Volkswagen. You could begin a loyalty and rewards program to keep people coming back. Colin is an international author of five bestselling books and an engaging keynote speaker. McDonald’s is one example of a brand with a reputation.

Hotels 60

Hotels Rewards Programs Retail Consulting 60

Currency Alliance

JUNE 19, 2019

Really, for those relatively few brands achieving impressive levels of customer engagement, it’s breath-taking how fast the industry has progressed in such a short time. To see why, visit their website , where you encounter various opportunities to earn points for many forms of non-transactional engagement. Kudos to them.

Loyalty 49

Loyalty Loyalty Programs Gamification Airlines 49

Magellan Solutions

JULY 12, 2021

Rewards program. With of course, associated rewards after completion. . When properly implemented, it has the potential to greatly engage employees in a spirit of rivalry with their coworkers, resulting in higher performance quality and more efficient task completion.

Call Center 52

Call Center Industry Contact Center Study 52

Currency Alliance

NOVEMBER 14, 2019

Since customers are losing patience with brands that don’t recognize them as people, or enable consistent, multi-channel engagement, this priority remains over-arching in 2020. Constraining collaboration only constrains your ability to engage and capture insightful data. Brands reward more touchpoints to grow emotional loyalty.

Loyalty 40

Loyalty Trends Loyalty Programs Hotels 40

SmartKarrot

APRIL 22, 2022

B2B companies will have to bank on customer retention as a key strategy to achieve long-term growth. Dedicating resources that provide quick and engaging solutions will help you boost your customer retention. You may have to sit with your teams – customer engagement teams and the finance teams to come up with a gift idea.

Customer Retention 10

Customer Retention B2B Strategy Rewards Programs 10

Currency Alliance

FEBRUARY 26, 2019

The reality is that there are a lot of people slapping each other’s backs about incremental gains, while most brands still have less than 1/3 rd of customers active in their loyalty programs. A loyalty program should be relevant to 80% of customers. Profit is derived from engagement that links directly to incremental sales.

Loyalty 45

Loyalty Strategy Loyalty Programs Hotels 45

Currency Alliance

OCTOBER 29, 2019

This may seem to make rewards pricing more complicated. That’s somewhat true; but there are relatively simple, actionable, tactical steps that brands can take to make step-change improvements in their loyalty engagement strategy. Such ‘loyalty’ programs today are actually just rewards programs: ‘you do this and I will do that.’

Loyalty 40

Loyalty Loyalty Programs How To Hotels 40

Retently

MARCH 18, 2019

Consumers love Starbucks – even more since the company implemented its rewards program. Apparently, customer loyalty was so high that Starbucks’ program ended up holding more money than some banks. So, Netflix has enough time to earn back the money they spend on acquiring new customers. Starbucks Customer Retention.

Net Promoter Score 133

Net Promoter Score Omni-Channel Company NPS 133

Currency Alliance

JANUARY 22, 2020

And yet, many loyalty programs are run like barnacles on the side of a business: battling for budget, rather than being nurtured as the core way to engage customers via every channel and touchpoint. Rewards programs have not, historically, earned consistent loyalty across all customer segments.

Loyalty 40

Loyalty Brands Loyalty Programs Rewards Programs 40

SuiteCX

JANUARY 19, 2015

It was hard to boil these down to just 10, but we think these are the most important insights to emerge from over 100 client engagements. ©2014 suitecx – ConfidenDal Create integrated data warehouse for 28+ owned firms including auto dealerships, retail, banking, telcom, etc. Click here to view SlideShare.

Customer Journeys 100

Customer Journeys CRM Leadership Customer Centricity 100

West Monroe

JULY 24, 2017

Across all industries – from utilities to banking and from healthcare to education – organizations are tapping into unprecedented amounts and types of actionable “big data” to understand consumers and drive powerful engagement. With the institution of loyalty reward programs, the collection of purchase/transaction data took off.

Data 51

Data Marketing CRM Advertising 51

Currency Alliance

FEBRUARY 10, 2020

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. But South Africa’s first-place ranked program isn’t a grocer at all, but a pharmacy.

Loyalty Programs 52

Loyalty Programs Loyalty How To Hotels 52