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

Currency Alliance

Many people assume that operating a loyalty program necessarily implies issuing your own loyalty points or miles. Points and miles are a dominant and popular form of loyalty value. The golden benchmark is about $25 USD per year in loyalty value. This actually is not true.

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Referral programs 101: Driving sales with your happiest customers

delighted

Your customer experience program is a great way to identify your happiest customers, and then encourage them to refer their friends throughout the post-purchase journey. In this post, you’ll learn everything you need to know about referral programs, and how to set up your own. What is a referral program? About Friendbuy.

Sales 81
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How to Improve Customer Retention

InMoment XI

There is something to be said about how vital it is to leverage market research to understand your non-buyers so you can convert them into customers. But focusing on how to improve customer retention is just as important, if not more. How to Improve Customer Retention. Why Is Customer Retention Important?

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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. Hybrid points programs.

Loyalty 52
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4 ways to maximise the value of your loyalty program

Currency Alliance

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.

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8 loyalty trends for 2024: intelligent, data-led marketing

Currency Alliance

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. Norwegian Air Shuttle and Strawberry Hospitality Group have made public their intention to shake up their market.

Loyalty 59
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Loyalty Strategy 2019: How to Win in the Next Decade

Currency Alliance

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