ENGAGE.cx

MARCH 19, 2017

Part 3 – Operationalizing Stickiness…Loyalty’s Holy Grail. Click to download The New Loyalty 3 part series. We’ve learned in the earlier posts that if you’re continuing to invest in traditional loyalty programs, you’re spending money on outdated techniques and, worse yet, you may be losing more customers than you gain.

Loyalty 40

Loyalty Measurement Brands ROI 40

Currency Alliance

MARCH 20, 2020

There are really only four ways to create value for all stakeholders in a loyalty program: maintain low operating costs, and funnel the savings into rewards. add complementary partners in every spending category so the program and the currency are more useful and interesting. Not every loyalty program seems to appreciate this.

Loyalty Programs 52

Loyalty Programs Loyalty Hotels Travel 52

ERDM

JANUARY 8, 2018

Traditional loyalty programs have gotten a bit stale. Personalization is the new loyalty. Ironically, it was probably also the first form of loyalty between shop owners and their customers even thousands of years ago. This is data collection. Acting on that data is the hard part. Why is this so important?

Loyalty 40

Loyalty Analytics Loyalty Programs Travel 40

Currency Alliance

JUNE 11, 2019

Rather, banks must do a better job of leveraging their existing strengths – their goldmine of customer data and, most profitably of all, their wide-ranging merchant networks – to create their own, new and compelling reasons for customers to remain loyal. Indeed, banks are mostly not pursuing this strategy. Extra what?

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

Currency Alliance

DECEMBER 11, 2023

Unless the volume of business is high, there is never a positive return on investment (ROI). 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.

Loyalty 52

Loyalty Loyalty Programs Brands Course 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. As the saying goes, ‘garbage in, garbage out’.

Loyalty 52

Loyalty Marketing Airlines Loyalty Programs 52

Currency Alliance

NOVEMBER 4, 2022

Of course, this has happened before in other jurisdictions. Within one year, over 100 bank-sponsored loyalty programs in Europe disappeared. Shutting down the loyalty programs was a huge strategic mistake by the banks. Shutting down the loyalty programs was a huge strategic mistake by the banks.

Loyalty 52

Loyalty Marketing Loyalty Programs Banking 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

SurveySparrow

JANUARY 15, 2021

If you want to get better ROI, work engagement, and high employee retention, it’s crucial to provide constructive feedback. You can gather information about them to determine pay raises, employee benefits, loyalty programs, and layoffs. Don’t Google this fact. Take our word for it; it’s true.

How To 52

How To Net Promoter Score Effort Score Feedback 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

DECEMBER 17, 2019

This has mostly been via low-investment, tactical approaches that increase ROI, and educate the C-suite regarding long-term strategic value. Faced by this looming ‘perfect storm’ of change, the sheltered existence, that many leading loyalty programs have enjoyed for three decades, is coming to an end. MASTER YOUR CUSTOMER DATA.

Loyalty 64

Loyalty Strategy Loyalty Programs Travel 64

Currency Alliance

FEBRUARY 26, 2021

So, with competition across nearly every category, all companies now need a loyalty strategy. Not every company needs a loyalty program with points, gift cards, or other incentives, but very few businesses can survive without a base of loyal customers that makes up 30-50% of recurring total sales.

Loyalty 59

Loyalty Customer Engagement Engagement Airlines 59

Currency Alliance

NOVEMBER 16, 2021

What is strange today, is that most brands have evolved their public-facing ecommerce platforms into dynamic, content-rich, and personalized shopping experiences, while their loyalty program redemption catalog may not have changed in ten years, leaving it looking static with minimal appeal. Merchandising. Management.

Loyalty 52

Loyalty Loyalty Programs Ecommerce Touchpoint 52

Currency Alliance

NOVEMBER 16, 2021

What is strange today, is that most brands have evolved their public-facing ecommerce platforms into dynamic, content-rich, and personalized shopping experiences, while their loyalty program redemption catalog may not have changed in ten years, leaving it looking static with minimal appeal. Merchandising. Management.

Loyalty 52

Loyalty Loyalty Programs Ecommerce Touchpoint 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

Retently

FEBRUARY 21, 2024

In this article, we’ll guide you through crafting, placing, and analyzing impactful surveys that provide actionable data for your business growth. A successful survey design involves strategic placement, timing, and simple multiple-choice questions to increase participation and the accuracy of collected data.

Survey 78

Survey Social Media Advertising Analysis 78

Currency Alliance

MARCH 30, 2022

In recent years, brands have invested more in loyalty. At many businesses, however, loyalty teams still attract relatively few resources compared to the ROI that loyalty can deliver when best-practices are observed. but within a few years it had become South Africa’s leading loyalty program.

Loyalty 52

Loyalty Loyalty Programs Resources Airlines 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

DECEMBER 7, 2021

Did you hear the term ‘Big Data’ during 2021 (or 2020 for that matter)? I heard it once, two weeks ago at a loyalty conference in London. Loyalty trends were being discussed, as well as what had been hot topics in prior years – some of which just faded away as fads. The Loyalty Imperatives answer that question.

Loyalty 52

Loyalty Trends Loyalty Programs Touchpoint 52

Currency Alliance

NOVEMBER 1, 2017

Of course, not all of these will go to waste. Some are simply getting accumulated by active loyalty program members and will soon be redeemed, but probably half of this balance is held by less frequent customers; and, they are unlikely to be able to put the points to much use – which will eventually lead to frustration when the points expire.

Loyalty 45

Loyalty Loyalty Programs ROI Brands 45

BirdEye

APRIL 7, 2023

By tracking the right marketing KPIs, you can course-correct, amplify suitable campaigns, and achieve higher goals. Return on Marketing Investment ROI is a pretty standard marketing KPI that every business tracks. Make the most of the vast amounts of data and uncover new opportunities for growth and success.

Marketing 52

Marketing Social Media Return on Investment Touchpoint 52

Currency Alliance

OCTOBER 29, 2019

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? Of course, dishing out ‘value’ sounds scary to a chief financial officer. Rewards are transactional; loyalty is emotional. The answer is simple.

Loyalty 40

Loyalty Loyalty Programs How To Hotels 40

Currency Alliance

NOVEMBER 17, 2020

But those brands pursuing each of the trends predicted for 2020 probably suffered less as the course of this year evolved. Layering customer-centricity on top implies a single view of the customer – augmented with data from outside your business, and having the tools to make customer insight actionable.

Loyalty 52

Loyalty Trends Loyalty Programs Travel 52

ClearAction

OCTOBER 1, 2018

. “Only 13% of marketers feel they are fully implementing customer revenue-producing strategies and engaging differently, including driving deeper relationships, collaborating across stakeholders and leveraging data to uncover new opportunities and options for engagement.” CXM Status Quo: Pillars (silos).

Customer Experience 63

Customer Experience Effort Score ROI Study 63

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

Currency Alliance

NOVEMBER 14, 2019

Through 2020 and beyond, the most successful loyalty brands will harness digital transformation efforts in order to participate in more open loyalty networks, and collaborate far beyond their own garden wall. Constraining collaboration only constrains your ability to engage and capture insightful data. CEO Glenn Fogel said….

Loyalty 40

Loyalty Trends Loyalty Programs Hotels 40

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

SurveySparrow

FEBRUARY 21, 2020

Even finding out your loyal customers is a huge advantage as you can get them to be a part of your loyalty program to reap greater rewards. Each customer’s value is linked to the ROI of the investment in customer experience activities as well as the revenue of the company. Of course not. Conclusion.

Metrics 52

Metrics Customer Experience Effort Score Net Promoter Score 52

SurveySparrow

MARCH 29, 2023

The objective should be to maximize your ROI from the customer. Metrics like customer lifetime value (CLV) tells you how much business your customer brings over the course of their association with you. Use a loyalty program software like 99minds to formulate a reward program that makes them stay with you.

Customer Journeys 52

Customer Journeys Ecommerce Touchpoint Social Media 52

Currency Alliance

SEPTEMBER 17, 2019

In this new content series, we show what a world-beating loyalty program would look like in four different sectors, and discuss the brands currently showing the potential to build that ‘world-beating’ program. A world-beating program in travel. Velocity: a leader in modern loyalty.

Loyalty Programs 40

Loyalty Programs Travel Loyalty Airlines 40

Pointillist

MAY 23, 2018

By analyzing millions of data points in real-time, customer journey analytics software can help you discover the most important customer journeys and prioritize those opportunities that significantly impact business goals like increasing revenue, reducing churn and improving customer experience. Uncover behavioral segments.

Customer Journeys 90

Customer Journeys Analytics How To Touchpoint 90

SurveySensum

MAY 11, 2023

So how can you stay ahead of the game? — By listening to your customers, of course! Measuring NPS allows businesses to track their progress over time and make data-driven decisions to improve customer satisfaction and loyalty. You can use public data sources or industry reports to identify your competitors.

NPS 52

NPS Retail Net Promoter Score Effort Score 52