Currency Alliance

JANUARY 18, 2021

It’s time for hotel operators to re-evaluate how well their ace in the hole – their loyalty program – is enabling every function of their business to deliver more value. Here are three predictions of how loyalty programs must evolve in hospitality. The hotel is a dispensary of experiences.

Hospitality 52

Hospitality Loyalty Industry Hotels 52

Currency Alliance

FEBRUARY 20, 2023

The loyalty rules engine is the module that enables the types of promotions that are familiar from every major loyalty program. These loyalty rules are created in order to improve customer appeal and profitability, and the job of enabling them in a loyalty program falls to the rules engine.

Loyalty 52

Loyalty Loyalty Programs Social Media ROI 52

InMoment XI

JANUARY 17, 2024

With today’s travelers raising their expectations while being exposed to a seemingly unlimited number of hospitality solutions, it is critical that operators deliver experiences that reflect the lives of their customers. A positive guest experience involves going beyond basic customer service. What is Guest Experience?

Guest Experience 260

Guest Experience Trends Hospitality Customer Journeys 260

Currency Alliance

DECEMBER 18, 2017

There are of course many trends taking shape, but we thought we would take a look at what we consider to be the three top loyalty trends for 2018, and the implications of these for both brands and customers. Everyone knows that trust is key in brand loyalty. Top loyalty trends for 2018: No.1

Loyalty 49

Loyalty Trends Brands Loyalty Programs 49

Currency Alliance

JUNE 11, 2017

Loyalty program announcements so far this year indicate a major sea change. To get customers re-engaged, brands are making it easier to participate in their loyalty programs and are offering enhanced ways to redeem – so customers can make use of even small amounts of points/miles.

Loyalty 52

Loyalty Loyalty Programs Multi-Channel Rewards Programs 52

Currency Alliance

JUNE 16, 2020

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. Brilliantly, Voxi has spun this very feature into a loyalty driver.

Loyalty 52

Loyalty Innovation Travel Loyalty Programs 52

ProProfs Chat

JANUARY 18, 2022

For example, you can attempt to understand to what degree customers are satisfied with your products or services. For example, you must have seen star ratings (1 to 5) given by existing customers while shopping online. For example, you can ask your customers, “Which feature do you find the most useful in our product?”

Examples 95

Examples Net Promoter Score NPS Survey 95

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]. Bribing customers is easy and, as with most easy initiatives, not very profitable. Actually, they do. Extra what? in 2017[vii].

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

Qualtrics

APRIL 22, 2020

Find out how Conjoint/MaxDiff can help you use real-time feedback to develop the products and services your customers need both now, and as you emerge from the other side of the coronavirus crisis. Food and beverage companies, cruise lines, airlines, and hotels are facing some unique challenges as people are forced to stay home.

Hospitality 29

Hospitality Retail Rewards Programs Analysis 29

Currency Alliance

DECEMBER 1, 2020

Apart from adapting to mobile apps and ditching plastic cards, the typical loyalty programs in 2020 still operate pretty much the same as they did at the turn of the century. And there are many, many more of these lookalike programs. The customer experience has evolved. Why hasn’t loyalty? Why hasn’t loyalty?

Loyalty Programs 52

Loyalty Programs Loyalty Multi-Channel Hotels 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. Using AI to improve profitability of pricing and promotions.

Loyalty 52

Loyalty Marketing Airlines Loyalty Programs 52

Currency Alliance

DECEMBER 4, 2023

Loyalty trends, as we’ve said in our previous years’ trends articles, are interesting to think about – but they are not necessarily reflective of what your own brand should be focusing on in the next year. This year, a continuing key theme in loyalty will be the ability to drive even greater customer value at lower direct cost.

Loyalty 59

Loyalty Trends Data Marketing 59

SurveySensum

FEBRUARY 20, 2024

That feeling is what businesses aim to achieve in order to keep customers happy and satisfied and keep coming back for more. But why is it important to improve customer satisfaction? Because acquiring a new customer can cost five times more than retaining an existing one. So, what exactly is customer satisfaction?

Customer Satisfaction 52

Customer Satisfaction Self Service Strategy Customer Journeys 52

SurveySensum

FEBRUARY 20, 2024

That feeling is what businesses aim to achieve in order to keep customers happy and satisfied and keep coming back for more. But why is it important to improve customer satisfaction? Because acquiring a new customer can cost five times more than retaining an existing one. So, what exactly is customer satisfaction?

Customer Satisfaction 52

Customer Satisfaction Self Service Strategy Customer Journeys 52

Currency Alliance

NOVEMBER 16, 2021

Flexibility around loyalty redemptions is crucial to creating meaningful value for every customer. Rewards that are interesting for less-frequent customers, as well as to frequent customers, motivate every customer to engage more, and increase the share of wallet that they allocate to your brand.

Loyalty 52

Loyalty Loyalty Programs Ecommerce Touchpoint 52

Currency Alliance

NOVEMBER 16, 2021

Flexibility around loyalty redemptions is crucial to creating meaningful value for every customer. Rewards that are interesting for less-frequent customers, as well as to frequent customers, motivate every customer to engage more, and increase the share of wallet that they allocate to your brand.

Loyalty 52

Loyalty Loyalty Programs Ecommerce Touchpoint 52

Currency Alliance

FEBRUARY 26, 2021

Therefore, all types of marketing and sales disciplines started to evolve to incentivize and influence customer choice in order to drive more revenue. So, with competition across nearly every category, all companies now need a loyalty strategy. Incentives must be tailored to the customer’s context.

Loyalty 59

Loyalty Customer Engagement Engagement Airlines 59

Currency Alliance

NOVEMBER 4, 2022

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. Next, we explain how to increase the perceived value of your loyalty currency, so that your loyalty program is more effective, and the ROI increases.

Loyalty 52

Loyalty Marketing Loyalty Programs Banking 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 17, 2019

There was a mix of good and bad, for loyalty in 2019. Much of the bad has derived from a lack of belief or understanding from CEOs, who constrain budgets, and prop up short-term earnings with value that ought to flow to customers. The widespread devaluation of loyalty currencies during the past few years brings this into sharp focus.

Loyalty 64

Loyalty Strategy Loyalty Programs Travel 64

Currency Alliance

MARCH 30, 2022

Such a simple program quickly revealed invaluable insight into the customer and opened a whole new channel of communication across email, SMS and good old post! but within a few years it had become South Africa’s leading loyalty program. This can produce conflicting and confusing customer experiences.

Loyalty 52

Loyalty Loyalty Programs Resources Airlines 52

Currency Alliance

NOVEMBER 14, 2019

Loyalty marketing, however, has been restrained (or, arguably, sheltered) by monolithic tech, and probably a lack of interest, as other, sexier marketing innovations stole center-stage. 2020, however, seems likely to be the year in which stars align for a more profitable, productive and open future for loyalty. Some stars are sticks.

Loyalty 40

Loyalty Trends Loyalty Programs Hotels 40

Currency Alliance

DECEMBER 13, 2018

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.”. Old-school loyalty technology firms shrinking, or dying out. The evolution of loyalty marketplaces.

Loyalty 45

Loyalty Trends Loyalty Programs Rewards Programs 45

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

NOVEMBER 14, 2018

For all readers, the key takeaway will be that the evolution of loyalty programs into marketplaces is unstoppable, and that the decision to jump aboard is a sink-or-swim equation for all but the largest loyalty brands. Marketplaces deliver unique value for customers that your own brand cannot deliver on its own.

Loyalty 45

Loyalty Loyalty Programs Hotels Travel 45

Pointillist

MAY 23, 2018

More and more marketers and customer experience professionals are now looking for the best customer journey analytics platform to understand and engage with individual customers at a personal level, at scale. But, once you begin to look into customer journey analytics at a deeper level things become much less clear.

Customer Journeys 90

Customer Journeys Analytics How To Touchpoint 90

Currency Alliance

JUNE 19, 2019

This was my second year on the judging panel at the Loyalty Magazine Awards. Really, for those relatively few brands achieving impressive levels of customer engagement, it’s breath-taking how fast the industry has progressed in such a short time. You can watch the Loyalty Debate in full here. Mastering customer data (finally).

Loyalty 49

Loyalty Loyalty Programs Gamification Airlines 49

Currency Alliance

MAY 9, 2019

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. Enter: loyalty marketing.

Loyalty 56

Loyalty Strategy Loyalty Programs Airlines 56

Currency Alliance

FEBRUARY 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? We hear loyalty leaders state all the time that they have embraced ‘best practices’. That’s right, loyalty programs should be a profit center.

Loyalty Programs 52

Loyalty Programs Loyalty How To Touchpoint 52

Currency Alliance

NOVEMBER 17, 2020

It allows us to keep customers engaged when business plans fly out the window, due to marketplace calamities, such as the Covid-19 pandemic. Each trend supports aspects of the broader business imperative: to be present when and where customers choose to engage. Accelerating customer-centricity.

Loyalty 52

Loyalty Trends Loyalty Programs Travel 52

Currency Alliance

OCTOBER 27, 2017

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. Unfortunately, the customer loyalty sector has not kept pace.

Loyalty 45

Loyalty Customer Engagement Engagement Loyalty Programs 45

Currency Alliance

MARCH 21, 2019

Customer-side, the greater control and flexibility around data, enabled by microservices, is experienced as more rapid deployment of features, accurate personalization, greater relevancy, and an improved perception of the brand. This analogy must also be true of software companies that deliver loyalty program management systems.

Loyalty 58

Loyalty Banking Loyalty Programs CRM 58

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

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. Uncover the mountains of gold in your mid-long tail customers.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

Currency Alliance

AUGUST 16, 2019

Loyalty programs once enabled relatively personalized marketing. From a standing start of zero customer data some 20 years ago, brands became able to incentivize desired behaviors in highly-predictable customer segments. Value, that is, to a minority of highly-frequent, high-spending customers.

Loyalty 40

Loyalty Brands Loyalty Programs Airlines 40