Currency Alliance

NOVEMBER 4, 2022

This fee is commonly how financial services brands have funded their loyalty rewards for at least the past decade. So how should New Zealand’s banks and brands respond, and how should other brands collaborate with partners to reduce dependency on any single source of funding? Of course, this has happened before in other jurisdictions.

Loyalty 52

Loyalty Marketing Loyalty Programs Banking 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

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

InMoment XI

SEPTEMBER 1, 2022

Support Teams Consistency: Identify fundamental customer needs and create customized value and benefits Formal Relationship Surveys: Create goal-oriented relationship surveys; look for churn warning signs specific to your business Leverage Loyalty Programs: Leverage your best customers to be your most outspoken advocates.

Customer Retention 260

Customer Retention How To Customer Journeys Telecommunications 260

BirdEye

NOVEMBER 20, 2023

The key benefits include: Centralized review management Multi-channel communication with customers Automated referral campaigns Integration with numerous CRM systems Comprehensive reporting and analytics 2. Ambassador Ambassador is a versatile platform that manages referral, affiliate, and influencer marketing programs all in one place.

Software 64

Software Marketing Multi-Channel e-support 64

Currency Alliance

OCTOBER 31, 2022

A recent article on PhocusWire helpfully outlined a range of security vulnerabilities common to loyalty programs. Most loyalty program operators now recognize the urgency of improving their platform security, but are still unsure how to proceed. loyalty account information. mailing address. phone number.

Travel 52

Travel System Loyalty Loyalty Programs 52

Beyond Philosophy

OCTOBER 7, 2021

Many organizations drive their actions to suit quarterly reporting, sales figures, and profits for this year and, as a result, don’t think long term. However, customer loyalty necessitates thinking long term. Wells Fargo is a big retail bank in the U.S. It’s the same situation with airline loyalty programs.

Loyalty 172

Loyalty Airlines Banking Customers 172

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

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.

Brands 52

Brands Banking Advertising Loyalty 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 15, 2018

You can observe this in the last 20 years of Tesco’s growth, which obediently correlates to the Bank of England base rate. Most retail CFOs would spit coffee at the suggestion that customer experience is their problem, but services can be easily and practically budgeted for, commoditized and recorded in a brand’s annual reports.

Retail 110

Retail Brands Banking Loyalty Programs 110

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

CSM Magazine

AUGUST 15, 2022

They are the person that customers report any problems or dissatisfaction to and hopefully the people who sort out the problem so that the customer walks away feeling satisfied. Banking Methods. When you’re dealing with different banking and transfer services from all over the world, things can get a little bit tricky.

Banking 52

Banking Customer Care Loyalty Programs Customers 52

BirdEye

SEPTEMBER 11, 2023

Apple) High-quality customer experience helps businesses grow loyalty programs and referral campaigns, lowering customer acquisition and retention spending. Provide comprehensive reports on recurring issues to help businesses solve the core issue and improve customer experience.

Customer Experience 114

Customer Experience Self Service Social Media How To 114

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

SurveySensum

AUGUST 24, 2023

Seamless Account Management with Virtual Assistant – Bank of America Leveraging the power of cutting-edge technologies such as AI chatbots, Virtual Assistants, etc. Bank of America’s Virtual Assistant, ‘ ERICA ’ embodies the synergy of AI and customer-centricity. Don’t you just love this convenience in everyday life?

Self Service 52

Self Service Brands Effort Score Airlines 52

Currency Alliance

DECEMBER 20, 2022

During 2023, brands will make it easier for more customers to realize value from loyalty program participation. This will help them engage many more customers – particularly in the mid-to-long tail: previously not seen as a valuable target for loyalty marketing, but now recognized as a leading source of incremental revenue.

Loyalty 52

Loyalty Trends Innovation Loyalty Programs 52

SurveySensum

SEPTEMBER 8, 2023

To understand this difference better, the 2023 Satmetrix Net Promoter Benchmarks report (for US consumers) provides detailed information on the NPS score of 192 brands in 23 industry sectors, covering 63,939 respondents. Engage with them through personalized communication, and exclusive offers to show your appreciation for their loyalty.

NPS 52

NPS ROI Social Media Effort Score 52

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

NobelBiz

JULY 25, 2023

Reporting: The Blueprint of Action The culmination of the analytics process, reporting, provides a distilled view of insights: Dashboards: Visual interfaces show real-time data like call volumes, average handling time, first call resolution rate, and customer sentiment.

Interaction 98

Interaction Analytics Call Center Contact Center 98

Currency Alliance

MAY 9, 2022

However, most endpoints have an additional 3-6 optional fields where additional data about the customer, the transaction, or the partner can be added to enable richer profiling or reporting. There is not even an effort in the loyalty sector to set standards. Adaptability: data sharing between partners.

Loyalty 52

Loyalty Technology Loyalty Programs Multi-Channel 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

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. referring friends.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

Currency Alliance

DECEMBER 13, 2018

The brands we reported on in 2018 have already proven it can be done – but they were only the beginning of a much brighter, more profitable future in loyalty marketing. At first glance, this year’s Gartner CMO spend survey may not make for happy reading for loyalty marketers. Loyalty coming to new sectors. in 2017[ii].

Loyalty 45

Loyalty Trends Loyalty Programs Rewards Programs 45

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. The bank found that about half of these customers had service complaints.

Customer Satisfaction 92

Customer Satisfaction Customer Experience B2C Banking 92

NetBase

MAY 26, 2020

According to a report just released by the U.S. 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. Likewise, in the first quarter of 2020, Etsy grew in active sellers by a margin of 26.4% billion in the U.S. resulting in a 14.5%

Ecommerce 97

Ecommerce Social Media Retail e-support 97

Currency Alliance

MAY 19, 2021

Any brand can embrace headless loyalty services quickly and easily – even if you already have millions invested in an aging loyalty program. Since Currency Alliance operates in the loyalty sector, I can speak with more confidence about loyalty. enabling consistent reporting, reconciliation, or settlement.

Loyalty 52

Loyalty Touchpoint Loyalty Programs Social Media 52

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

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

Chadwick Martin Bailey

JANUARY 5, 2021

The industry has already been changing—we’ve seen this with the shift from regional, small community banks to totally digital and AI-enhanced platforms. For example, credit card usage and loyalty point redemptions have been all about travel and dining. How should they/we be evolving? It’s an interesting and exciting time for me.

Travel 59

Travel Loyalty Programs Financial Loyalty 59

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

MAY 9, 2019

Last December, a McKinsey report said that 2018 represented… “…a tipping point from thinking, talking about, and planning for future mobility to implementing it.…when Building such habits is precisely what loyalty programs do. . The massive potential of loyalty marketing in mobility.

Loyalty 56

Loyalty Strategy Loyalty Programs Airlines 56

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. The bank found that about half of these customers had service complaints.

Customer Satisfaction 60

Customer Satisfaction Customer Experience B2C Banking 60

Currency Alliance

OCTOBER 27, 2017

Unfortunately, the customer loyalty sector has not kept pace. Most loyalty programs still retain largely the same design as 20 years ago. The key to getting customers once again actively involved in loyalty program participation is through providing greater liquidity.

Loyalty 45

Loyalty Customer Engagement Engagement Loyalty Programs 45

BirdEye

APRIL 20, 2023

Referral programs Have you ever wondered how to get local business leads without breaking the bank? An easier way to do this is by running a referral program where customers spread the word about your brand to their friends and family. Furthermore, you can track how well the ads are performing by selecting automated reporting.

Social Media 98

Social Media Multi-Channel Metrics Effort Score 98

Currency Alliance

MARCH 9, 2021

A loyalty system operating in the cloud, with APIs, may still be a monolithic stack of legacy software that is expensive to modify. The five modules of a loyalty system are the…. Points Bank – where you keep track of all the loyalty transactions and customer’s points balance. Access to a network of potential partners.

Loyalty 59

Loyalty Customer Engagement Engagement CRM 59

Currency Alliance

JANUARY 22, 2020

Every CEO waxes lyrical about the importance of loyalty. 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. It may not even be through conventional loyalty marketing.

Loyalty 40

Loyalty Brands Loyalty Programs Rewards Programs 40