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

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

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.”. [iii].

Loyalty 45

Loyalty Trends Loyalty Programs Rewards Programs 45

Currency Alliance

FEBRUARY 26, 2019

Furthermore, given the historically high entry costs to deploy a comprehensive loyalty system, faster payback is often found among many of those other marketing disciplines cited by Gartner. We believe most loyalty programs can reduce cost by simplifying their programs and changing the mix of systems that enable day-to-day operations.

Loyalty 45

Loyalty Strategy Loyalty Programs Hotels 45

Currency Alliance

MARCH 21, 2019

Loyalty systems were some of the first marketing technology, dating back 35 years. Now, these legacy systems are showing the strain. Points Bank. We estimate that almost 30% of the total cost of a loyalty program goes to cover the cost of maintaining and enhancing these systems – value that cannot be passed on to customers.

Loyalty 58

Loyalty Banking Loyalty Programs CRM 58

SuiteCX

JANUARY 19, 2015

©2014 suitecx – ConfidenDal Create integrated data warehouse for 28+ owned firms including auto dealerships, retail, banking, telcom, etc. Look at all customer communicaDons in the aggregate across lines of business to ensure the cadence makes sense.

Customer Journeys 100

Customer Journeys CRM Leadership Customer Centricity 100

Currency Alliance

NOVEMBER 14, 2019

Nonetheless, the legacy loyalty points bank kept them from innovating more quickly. For large enterprises, embedded legacy points banks and rules engines continue to be the bottleneck to unleashing more personalized engagement. Brands reward more touchpoints to grow emotional loyalty. Cloud-based tech can solve this problem.

Loyalty 40

Loyalty Trends Loyalty Programs Hotels 40

Currency Alliance

JUNE 19, 2019

The Dutch bank is one of the few remaining banks in the European Union that has held on to a loyalty program after interchange fees were slashed in 2017. Vast sums of reward value were issued at a blanket rate of 1-3% – but because many of the points would never be redeemed, the projected cost was considered minimal.

Loyalty 49

Loyalty Loyalty Programs Gamification Airlines 49

Currency Alliance

OCTOBER 29, 2019

Such ‘loyalty’ programs today are actually just rewards programs: ‘you do this and I will do that.’ This is normally in the form of static rules which apply a flat 1%+/- reward across the board. Steps to a smarter reward pricing strategy. It’s the emotional value which creates real stickiness.

Loyalty 40

Loyalty Loyalty Programs How To Hotels 40

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. flybuys points can be earned with many different partner brands: banking (Citi).

Loyalty Programs 52

Loyalty Programs Loyalty How To Hotels 52