Nordstrom’s attempt to modernize its loyalty program runs into trouble

Optimove

According to Yoav Susz, vp of revenue at the customer relationship software company Optimove, brands can use that to their advantage during execution. “By The post Nordstrom’s attempt to modernize its loyalty program runs into trouble appeared first on Optimove.

What does customer relationship *really* mean to you?

Vision Critical

Most companies know what their customers buy, when they purchase and where. But few truly understand why those customers buy—why customers choose to have a relationship with companies to begin with. The Oxford dictionary offers two notable definitions of relationships : 1.

Ending apathy around customer loyalty programs

Currency Alliance

You get to the front of the queue in your local store and the assistant asks for your loyalty card. Most consumers belong to many customer loyalty programs, but are not active in a lot of them. So they lose interest in participating, and most of those loyalty cards end up in a drawer rather than the wallet. Fragmentation of customer loyalty programs doesn’t benefit merchants much, either. We’ve all been there.

Ending apathy around customer loyalty programs

Currency Alliance

You get to the front of the queue in your local store and the assistant asks for your loyalty card. Most consumers belong to many customer loyalty programs, but are not active in a lot of them. So they lose interest in participating, and most of those loyalty cards end up in a drawer rather than the wallet. Fragmentation of customer loyalty programs doesn’t benefit merchants much, either. We’ve all been there.

Guest Blog: How Should You Grow and Sustain Your Customer Lifetime Value?

ShepHyken

This week we feature an article by Lukas Sitar who writes about growing and sustaining customer lifetime value for the entire customer cycle. But just what is customer lifetime value ? The challenge really lies in growing customer lifetime value.

Guest Blog: How Retailers Can Earn Millennial Moms Loyalty

ShepHyken

This week on our Friends on Friday guest blog post my colleague, Timi Garai, discusses the power of millennial moms and how to gain their loyalty. So let’s take a look at some smart tactics that can help you earn their long-lasting loyalty!

5 Top Customer Service Articles For the Week of March 5, 2018

ShepHyken

Each week I read a number of customer service and customer experience articles from various resources. What’s the Difference Between Customer Satisfaction and Customer Loyalty? It’s usually measured by a customer satisfaction survey on a numerical scale.

4 Ways Improving Customer Relationships Can Help Build Your Brand

Win the Customer

Today, brands can use social media to strengthen brand awareness, create customer loyalty, and build lasting relationships with customers. Customer loyalty is becoming more and more elusive, especially in our contemporary world. Loyalty Programs.

15 Customer Retention Strategies for Long-Term Customer Loyalty

Comm100

Your customer retention is super important to your bottom line—after all, customer loyalty is well-known for being more valuable than customer acquisition. Relationship Marketing Strategies. Give customers one-on-one attention. Loyalty Programs.

How Customer Onboarding Can Help Improve Loyalty

Joe Rawlinson

A recent study by Accenture found that over 90 percent of companies today have some kind of customer loyalty programs in place. Yet, over 71% of customers surveyed by the researchers said that these programs do not really engender loyalty.

In Mobility, Loyalty Strategy Will Decide Who Wins

Currency Alliance

when the automotive and mobility industries shifted from a driver- or owner-focused value proposition to a customer-centered one; and when micromobility started to scale up.” [i]. Independent of market positioning, unique customer insight will become the primary competitive advantage.

Loyalty Point Liquidity drives Customer Engagement

Currency Alliance

As technologies mature and customer behavior changes, markets must evolve to remain relevant. We have seen tremendous change across many industries during the past 40-50 years, and these changes can help predict the next evolution in the loyalty sector.

Consumer banking: money can’t buy loyalty

Currency Alliance

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]. Bribing customers is easy and, as with most easy initiatives, not very profitable.

Customer loyalty: how to seduce customers

LiveChat

Some people think that customer loyalty is a relic of the past. But does it mean that loyalty sank into the oblivion? There is only one thing that has changed: the way customer loyalty can be gained. Another important thing: great customer service.

Loyalty: On the Cusp of Major R(E)volution

Currency Alliance

Loyalty program announcements so far this year indicate a major sea change. From the customer perspective, it amounts to a Revolution – where brands are finally giving into what has been a ‘peaceful demonstration’ gaining momentum for several years – namely that it is too difficult to accumulate much value among so many incompatible loyalty point currencies/programs – so consumers quit. Loyalty should be no different with fewer currencies, exchangeability (i.e.,

Do Traditional Drivers of Loyalty Still Apply?

Currency Alliance

A year that could see a tipping point for customer loyalty programs. We’ve seen plenty of articles over the last couple of years about how the traditional loyalty program is falling short. Effectively, these are articles telling us that less people are signing up, or bothering to take their loyalty cards out of their drawer. We need to ask ourselves – do traditional drivers of customer loyalty still apply to the modern consumer?

How Hong Kong’s top brands lead with relationships

Vision Critical

At Customers for Life, a recent Vision Critical event in Hong Kong, we immediately felt the grandeur, magnificent presence and ambience of the flagship Mandarin Oriental (MO) hotel in Central Hong Kong as soon as we stepped in. Drive long term business value through customers relationships.

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How social awareness can improve customer relationship management

Service Untitled

Businesses grow as more customers come aboard, and that constant search for new clients is the life jacket for success. Of course building relationships with new customers are paramount; the hard part is taking the leads and transforming them into customers.

Three Ways a CX Mindset can Power Your Loyalty Marketing Program

inmoment

In my last post , I discussed the expanding role of the CMO from steward of the brand to caretaker of the end-to-end customer relationship. In fact, my position gives me an even more interesting and unique perspective: I have a front row seat to new developments in the marketing world and to the evolution of the customer experience (CX) industry. Customers want to feel valued and heard. So how can a CX mindset help you solve this possible customer objection?

40 Customer Retention Statistics You Need to Know

GetFeedback

Learn about the top two customer surveys for predicting and increasing customer retention. Anytime a customer cuts ties, you experience the negative impact of customer churn. Customer Retention by the Numbers. Customer retention statistics: More than 6 in 10 U.S.

Why it’s time to think differently about loyalty currencies

Currency Alliance

In recent years, customers have fallen out of love with loyalty programs. Often, consumers belong to a multitude of programs, but carry only the card from their favorite supermarket – for the simple reason that they fail to extract much value from the vast majority. What if there was a way to exchange these fragmented loyalty currencies in order to better manage and utilize the value that customers have accrued?

Why Brands Need to Work Together to Compete with the Amazon Juggernaut

Currency Alliance

In large part because Amazon knows a great deal about their customers. They could also see who else in a broad coalition data network matches the profile of the merchant´s best existing customers.

CX Journey™ Musings: We Have All the Customers We Could Want!

CX Journey

Image courtesy of Pixabay We have all the customers we could ever want. More specifically, he said: “We don’t need more customers. We have all the customers we could possibly want,” Lampert said at Sears’ annual shareholder meeting. “As Lampert said Sears would remain focused on improving its relationship with its customers. There's no explanation of how he's going to improve customer relationships or what that strategy is that he's referring to.

Wise Marketer Interview with Chuck Ehredt

Currency Alliance

A former Accenture consultant-turned entrepreneur, Ehredt is attempting to upend the loyalty industry with a platform that simplifies how loyalty currencies are managed and exchanged. If successfull, he may do what no other loyalty platform can do – create a loyalty program that works not only for your top 15 percent of customers, but also for the other 85 percent. We want to offer a currency that is relevant to that mid- to long-tail of customers.

Salesforce Unveils Next Generation Marketing Cloud; Now Any Journey Is Possible

Natalie Petouhof

With the next generation Journey Builder brands are empowered to create journeys that blur the lines of CRM and span the Salesforce Customer Success Platform – connecting journeys across sales, service, marketing and custom apps.

Boost Revenue in 8 Easy Steps

NICE inContact

Because progressive leaders understand a new CX strategy can transform corporate culture; turn customers into advocates; and boost revenue. Also, by concentrating on current customers, you can make the most of contact center interactions.

Make it personal to build customer loyalty

Service Untitled

While successful businesses have always been about price, quality, and customer service, what can an organization do to guarantee that a particular customer will keep coming back? No matter how you address it, customer loyalty emanates from excellent customer service.

Looking Forward to CRMC

Lenati

Last week Lenati wrapped up our time in Florida at Loyalty Expo 2018. It was great to connect with clients and industry leaders, here’s a few highlights: On Tuesday Vans and Lenati took the stage to present on Van’s new program, Vans Family.

Gratitude is a Customer Experience Differentiator

Michelli Experience

For example, when a customer enters a retail store and a clerk asks, “How are you today?” Most customers know the question is little more than a universal greeting. Most clerks don’t really want a customer to honestly answer the question. Imagine a customer saying, “I’m not doing well because I just took my dog to the veterinarian and my sister was just diagnosed with lupus.”. Fortunately, most customers will deflect with a response of, “I’m fine.”

Is The Way We Are Going About Customer Acquisition and Retention Dead Wrong?

Maz Iqbal

While an automated phone system may improve an organisation’s operational efficiencies, it rarely improves the customer experience. That you get points for using my name … That if you have a customer loyalty program, you get more points for asking me for my membership card so you can check to see if I can get a discount… But, I’ll tell you what makes the real difference. So if you want to see your customers, really look at them.

Service Untitled» Blog Archive » Customer loyalty needed to.

Service Untitled

Service Untitled The blog about customer service and the customer service experience. They stated that customers stay with manufacturers as long as the new warranty lasts, and then move on to independent service providers. Satisfaction alone does not build a loyal customer.

Boost Revenue in 8 Easy Steps

NICE inContact

Because progressive leaders understand a new CX strategy can transform corporate culture; turn customers into advocates; and boost revenue. Also, by concentrating on current customers, you can make the most of contact center interactions.

Are Moments of Truth Really Worth All The Fuss?

Steve DiGioia

how a single interaction can ruin the entire customer experience This original article was written by Steve DiGioia. Superb handling of these moments requires an instinctive frontline response that puts the customer’s emotional needs ahead of the company’s and the employee’s agendas.”

11 TED Talks to Inspire Better Customer Support

Kayako

You’ve read all the classic books on customer service— Delivering Happiness by Tony Hsieh, How to Win Friends and Influence People by Dale Carnegie, and more. Videos to motivate a customer-centric business. What if customers become friends? Employees first, customers second.

John Paul names Frédéric Martinez as CEO EMEA

John Paul

The John Paul Group, worldwide leader in client loyalty and customer relations, announces the appointment of Frédéric Martinez as CEO for the EMEA region. Its vision of the customer relationship is innovative.

8 Tips To Improve Customer Engagement in 2016

Help.com

A recent study by Gallup shows that only 29% of customers are fully engaged. 71% of customers are ready and willing to part ways with your company. What can you do to mend the relationship? Make your business more customer-centric. “A Reward loyal customers.

Tips 141

Crash Course: 11 Terrible Customer Experiences In Travel

Currency Alliance

But with so much riding on travel for your customer – the cost of bookings, the early-morning starts, the importance or the fun of their trip – it’s a sector primed like no other to stoke their rage when things go wrong. Customer Disservice! “On Customer’s always wrong.