Currency Alliance

FEBRUARY 10, 2020

One of the earliest loyalty programs came out of the grocery sector. 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.

Loyalty Programs 52

Loyalty Programs Loyalty How To Hotels 52

Currency Alliance

OCTOBER 4, 2023

Recognizing loyalty program members at the Point of Sale (POS) has been challenging for over 30 years. The result is that it can be difficult for a retailer to deliver a smooth customer experience when identifying their own loyalty program members, or customers in partner loyalty programs, at the POS.

Loyalty 59

Loyalty Loyalty Programs Retail Banking 59

ShepHyken

JANUARY 7, 2024

Deloitte Shares Loyalty Trends and Best Practices for 2024 by Alicia Esposito (Retail TouchPoints) To drive customer retention and loyalty, most brands and retailers continue to rely on purchase discounts (77%) and loyalty program points (61%), according to Retail TouchPoints research.

Customer Service 68

Customer Service Loyalty Programs Contact Center Financial 68

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

Beyond Philosophy

SEPTEMBER 2, 2019

The second secret is something that we wrote about in our latest book, The Intuitive Customer , that customer loyalty is a function of memory. By definition, you would need to remember that previous interaction to attribute your return to feelings of loyalty. The memory then ties back to the emotions of customer interaction.

Loyalty 141

Loyalty Banking Loyalty Programs Net Promoter Score 141

Lumoa

JUNE 26, 2023

Engage buyers at every step Customers are constantly interacting with brands, whether through their social media pages or at physical stores. Brands that provide more interactive opportunities for consumers improve their visibility, boost revenue, and also build a loyal consumer base.

Omni-Channel 208

Omni-Channel Customer Experience Net Promoter Score Effort Score 208

Kayako

AUGUST 21, 2018

Keep track of support interactions and where you can improve to cut down customer frustration. Speaking of support interactions… customer support is one of the most effective tools you have for boosting customer retention and loyalty. Offer a Worthwhile Loyalty Program. Send out a survey to all existing customers.

Customer Retention 123

Customer Retention Loyalty Strategy Loyalty Programs 123

BirdEye

SEPTEMBER 11, 2023

AI-driven customer experience models employ artificial intelligence technologies to help businesses provide personalized, seamless, efficient, and improved customer interactions. With this, businesses improve and provide personalized customer interaction with the right prompt.

Customer Experience 112

Customer Experience Self Service Social Media How To 112

West Monroe

MAY 31, 2019

To recap, conversational interfaces are an emerging high-level system design model where interactions occur in the user’s spoken or written natural language. Customer outreach and preventive interactions. Customer intake and on-boarding. Structured, predictable tasks and workflows. Tasks where opening an app is too slow or cumbersome.

Banking 40

Banking Financial Self Service Chatbots 40

BirdEye

NOVEMBER 20, 2023

It offers features like visual marketing tools and loyalty program integration to enhance the customer experience. Yotpo’s major features include: Generates and leverages customer reviews Visual marketing features for social proof Loyalty program integration Smart algorithm for targeting Comprehensive analytics suite 7.

Software 62

Software Marketing Multi-Channel e-support 62

SmartKarrot

JUNE 2, 2022

The global loyalty program market stood at approximately $181 Billion in the year 2019. There is an increase in the number of organizations allocating their marketing spending on loyalty programs. There is an increase in the number of organizations increasing their marketing spending on loyalty programs.

Loyalty Programs 10

Loyalty Programs B2B Loyalty Video 10

Currency Alliance

DECEMBER 11, 2023

For this reason, only very large partners end up collaborating even though the loyalty program members engage with thousands of medium or smaller potential partners on a daily basis. This is a major opportunity cost for every loyalty program. In this case, the contract is with the third party (i.e.,

Loyalty 52

Loyalty Loyalty Programs Brands Course 52

Currency Alliance

NOVEMBER 15, 2021

Because each customer segment will respond differently to available loyalty incentives, tailoring the customer experience by segment across channels is essential to maximize ROI. Millions of longstanding loyalty programs are testament to the fact that loyalty marketing can be optimized for the benefit of all stakeholders.

Loyalty 52

Loyalty Loyalty Programs Multi-Channel Banking 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. I’m a case in point.

Loyalty 59

Loyalty Loyalty Programs Airlines Travel 59

Currency Alliance

FEBRUARY 20, 2023

It is the most powerful, yet under appreciated module (or tool) in a loyalty marketing stack of software. The loyalty rules engine is the module that enables the types of promotions that are familiar from every major loyalty program. This would not require much of a rules engine – since your program has no variation.

Loyalty 52

Loyalty Loyalty Programs Social Media ROI 52

2020 Research

SEPTEMBER 1, 2022

In this article, we’ll walk through five takeaways we found in our 2022 US Banking Industry Loyalty Report , so you can better understand how to maintain brand trust: Share the “Why” Behind Your Business’ Purpose. Do not expect loyalty from your customers — earn it. Don’t Expect Your Customers to Be Loyal. The Bottom Line.

Brands 52

Brands Banking Advertising Loyalty 52

SurveySparrow

JUNE 28, 2023

In the competitive landscape of today’s business world, the success mantra that resonates among most thriving companies is the strategy of providing a personalized customer experience.This concept is rooted in the understanding that every customer is unique, with their own set of preferences, behaviors, and past interactions.

Industry 52

Industry Tips Customer Experience Healthcare 52

SurveySensum

AUGUST 24, 2023

This feature allows you to purchase items in a single click while remaining on the same page as compared to the ‘Add to cart ’ option where you need to interact with multiple pages to place an order. Bank of America’s Virtual Assistant, ‘ ERICA ’ embodies the synergy of AI and customer-centricity.

Self Service 52

Self Service Brands Effort Score Airlines 52

Currency Alliance

DECEMBER 7, 2021

But make no mistake; failing in the medium-to-long term on these Loyalty Imperatives will put your customer relationships at risk and ultimately damage your brand. Loyalty programs are no different. The good news is your loyalty program is one of the most effective ways to achieve significant differentiation.

Loyalty 52

Loyalty Trends Loyalty Programs Touchpoint 52

Currency Alliance

DECEMBER 19, 2022

It has the potential to address a lot of business challenges, and enable many forms of elusive innovation in loyalty marketing. The biggest opportunities for loyalty programs relate to operating more efficiently to reduce cost, and improving personalization. Improving customer insight and loyalty personalization.

Loyalty 52

Loyalty Marketing Airlines Loyalty Programs 52

Currency Alliance

MARCH 21, 2019

Making the same progress in loyalty has been much more difficult. The typical incumbent loyalty technology platform comprises five core modules: CRM/Analytics Platform. Points Bank. Loyalty Rules Engine. This analogy must also be true of software companies that deliver loyalty program management systems.

Loyalty 58

Loyalty Banking Loyalty Programs CRM 58

Currency Alliance

MAY 9, 2022

Behind the scenes, ‘API-enabled’ (or ideally ‘API-first’) implies a technical architecture that allows computer systems to interact with each other – allowing each to perform those tasks for which it was optimized – and that most of the systems are relatively independent in how they operate. Device agnostic.

Loyalty 52

Loyalty Technology Loyalty Programs Multi-Channel 52

Currency Alliance

JULY 16, 2020

A common method to enhance customer understanding is partnering with other companies through loyalty programs. Let’s look at common spots where loyalty investments are most vulnerable to loss, the benefits of collaboration models and the three best opportunities for loyalty spending. It’s a Virtuous Cycle.

ROI 52

ROI Loyalty Data Loyalty Programs 52

ShepHyken

JUNE 20, 2016

Here are three great companies, Amazon, Southwest Airlines and TD Bank (I wouldn’t have guessed this last one), that are relentless when it comes to being customer focused. The big take away is the level beyond customer loyalty, which is desire. The concept of desire is loyalty on steroids. That is a big promise to make.

Customer Service 78

Customer Service Loyalty Programs Customer Centricity Chatbots 78

Oracle

OCTOBER 10, 2019

For example, a financial services brand can now see on a single screen a customer’s bank balances, investing activity, credit data, and other products with the bank. This can help identify a customer who’s eligible for a loyalty program or a special rate due to the volume of business.

Financial 50

Financial Trends Technology Banking 50

Currency Alliance

NOVEMBER 17, 2020

2021 will be another year in the long-term journey to become customer-centric, balance the economics of loyalty programs to deliver more value to customers, and ensure the right systems are in place to reduce dependencies on the IT department or vendors. Rebalancing loyalty program economics.

Loyalty 52

Loyalty Trends Loyalty Programs Travel 52

Currency Alliance

MAY 19, 2021

Now, the channels through which consumers interact with brands – often long before the purchase – are as diverse as the way we surf the internet. And increasingly, those interactions take place in environments you don’t control. Ecommerce has changed.

Loyalty 52

Loyalty Touchpoint Loyalty Programs Social Media 52

Currency Alliance

APRIL 10, 2021

If a new CEO replaced you tomorrow, and had no previous connection to the current loyalty program, what changes do you think she would make? As CEO, the time you can dedicate to your loyalty program is probably close to zero. Most loyalty programs report how many members they have.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

CSM Magazine

MAY 30, 2024

Bank Transfers Direct transfers from bank accounts ensure a secure, traceable transaction method. Evolution Gaming Specializes in live dealer games, providing immersive and interactive gaming experiences. Loyalty Programs Rewards regular players with points redeemable for bonuses, cash, or other perks.

Customer Service 52

Customer Service e-support How To Social Media 52

Currency Alliance

DECEMBER 17, 2019

But there remain some fundamental things that loyalty programs need to achieve to weather the looming storm that open banking, mobile payments, aggregation models, and other marketplace dynamics will bring. More customers will want to earn more loyalty currencies – which is potentially fantastic for all brands.

Loyalty 64

Loyalty Strategy Loyalty Programs Travel 64

Beyond Philosophy

APRIL 3, 2016

The surveying, such as referenced by TD Bank, to identify what drives satisfaction-reducing pain will provide superficial guidance on emotional drivers of desired customer behavior. It’s understandable why TD Bank’s marketing takes this approach to value. They consider the complaint interaction a hassle and an annoyance.

Customer Satisfaction 92

Customer Satisfaction Customer Experience B2C Banking 92

Currency Alliance

JUNE 19, 2019

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. Kudos to them. Or, perhaps the move wasn’t so bold?

Loyalty 49

Loyalty Loyalty Programs Gamification Airlines 49

NetBase

MAY 26, 2020

Many brands and small businesses already have a Facebook page where they can interact with consumers. Facebook is banking on ease of use as a factor in the success of Facebook Shops. Loyalty programs/schemes are also being tested for use. Facebook Shops’ Fantastic Functionalities.

Ecommerce 97

Ecommerce Social Media Retail e-support 97

Currency Alliance

FEBRUARY 26, 2019

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.

Loyalty 45

Loyalty Strategy Loyalty Programs Hotels 45

ShepHyken

JULY 11, 2016

Championed by the most customer centric brands in the world, such as the Ritz Carlton, the importance yet simplicity of ‘pleases’ and ‘thank yous’ cannot be underestimated in the effect they can have on customers and the way they are made to feel in their daily interactions with organisations and their people.

Customer Service 48

Customer Service Loyalty Programs Loyalty Tips 48

Currency Alliance

NOVEMBER 14, 2019

Nobody in loyalty could have missed The Times’ headline in October, about the Committee for Climate Change (CCC) proposal to start taxing frequent flyer programs (FFPs), or even to shut them down, under the assumption that they increase flying. Nonetheless, the legacy loyalty points bank kept them from innovating more quickly.

Loyalty 40

Loyalty Trends Loyalty Programs Hotels 40

TechSee

FEBRUARY 12, 2018

Considering this strong consumer preference for text, companies should strongly consider augmenting voice-based customer support with an option that allows customers to interact with your company via text as well. Immerse technologies provide the ability to interact and communicate with the virtual environment. Get started now.

Trends 84

Trends Customer Service Multi-Channel Self Service 84