Think Customers

DECEMBER 14, 2020

It typically costs five times as much to acquire a new customer than it does to retain an existing one, he said, and developing diehard fans can help brands score well into the future. It makes sound financial sense too: increasing customer retention by 5 percent can increase profits anywhere from 25 to 95 percent, Blank said.

Omni-Channel 52

Omni-Channel Sales Rewards Programs Effort Score 52

delighted

NOVEMBER 5, 2019

Retail customer experience was predicated around these physical elements and touchpoints: Are the employees helpful? Customer experience must now be consistent across all touchpoints to ensure customer needs are being met wherever customers choose to interact with your brand. Does the store carry the products customers are looking for?

Retail 40

Retail Customer Experience Omni-Channel Effort Score 40

delighted

DECEMBER 10, 2019

Essentially, ROX begins with mapping consumers’ purchase journeys, identifying touchpoints and factors that impact customers most, and improving those experiences for a positive business outcome. Rewards programs with strong NPS incite customers to spend 2.2x Group customers based on their CX score.

ROI 40

ROI Measurement Customer Experience Effort Score 40

Currency Alliance

APRIL 15, 2024

Plus, many types of points are widely appreciated by customers, and are useful to the brand for scoring different customer actions while influencing behavior. Many loyalty program members will now be accustomed to similar liquidity enhancements, such as exchanging your American Express Membership Rewards Points into Avios or Bonvoy.

Loyalty Programs 52

Loyalty Programs Loyalty Airlines Banking 52

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]. For starters, it isn’t financially sustainable. This led many banks in Europe to close their rewards program over the past three years.

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

Currency Alliance

FEBRUARY 26, 2019

We believe these trends will occupy most brands’ efforts during 2019. Emotional loyalty: add incentives along many touchpoints in customer journeys. Ideally, identify a short list of metrics that tie directly to financial benefits and complement those with a few metrics that measure emotional engagement.

Loyalty 45

Loyalty Strategy Loyalty Programs Hotels 45

Currency Alliance

JUNE 19, 2019

More enlightened marketers, on the other hand, see points as a way to keep score of customer actions at many different touchpoints along complex customer journeys. Collecting data at more touchpoints is very useful. This effort is a marked improvement. Improved financial control of loyalty marketing.

Loyalty 49

Loyalty Loyalty Programs Gamification Airlines 49