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Building a Better Loyalty Program (and the Reward for Getting It Right)

BlueOcean

Check your wallet (digital and/or physical) – do you have loyalty cards for your favorite retail outlets? loyalty programs on average. According to Bond , “the power of loyalty programs often trains an organization to optimize the program instead of optimizing loyalty.” In particular, transparency is critical.

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Loyalty programs: should you issue your own points or miles?

Currency Alliance

But most types of retailer, other than grocery or fuel, can only expect 10-20% of total customers to commit to this level of spending. That is why Walmart might collaborate with fuel retailers, insurance companies, travel agencies, pharmacies, or construction hardware companies. Consider the example of a retailer (i.e.,

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Loyalty Strategy 2019: How to Win in the Next Decade

Currency Alliance

Of course, your strategy cannot be developed in a vacuum. An example of effective alignment of strategy with tactics include Australia’s Coles Supermarket chain and its flybuys reward program. This past summer, the supermarket decided to offer reward points to customers who bring their own re-usable carrier bags.

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Loyalty Tech: Migrate to Microservices, or Get Left Behind

Currency Alliance

The typical incumbent loyalty technology platform comprises five core modules: CRM/Analytics Platform. CRM/Analytics. In legacy loyalty systems, the CRM would traditionally be integrated as part of the loyalty stack. Some of the CRM platforms optimized for loyalty marketing include…. Campaign Management. Points Bank.

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Innovators break the mould, at the 2020 Loyalty Magazine Awards

Currency Alliance

While travel and retail brands have made a lot of progress in the last 24 months, the bulk of innovation has come from other consumer sectors – including media businesses, entertainment, and telecoms providers, which in recent years appeared to regard loyalty as a lost cause. Alongside retail, news brands have been among the hardest hit.

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Consumer banking: money can’t buy loyalty

Currency Alliance

Halifax’s Extra is just one example of a now-tired global trend, not just in banking but across sectors, of a loyalty strategy invested entirely in modest sums of reward value to drive a specific action. This led many banks in Europe to close their rewards program over the past three years. by merchant, or by retail category).

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Breaking down the walls: Loyalty Magazine Awards 2019

Currency Alliance

More than one brand at this year’s awards demonstrated just why this is so important, including Parfumerie Douglas, a German retailer and winner of ‘Best Customer Experience’. Because their ‘Picture your next destination’ gamified experience was integrated with their CRM, they successfully attracted over 130,000 new users in only 6 weeks.

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