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]. People are more likely to leave their spouse than their bank[ii], so it might seem that banks have no case to answer. Extra what?

Banking 40

Banking Loyalty Consumers Loyalty Programs 40

Beyond Philosophy

SEPTEMBER 2, 2019

Habitual purchases and loyalty purchases look the same, but they are rooted in different psychological processes. Defining loyalty in terms of emotional connection is an essential place to start. The Problem with Loyalty Programs. For example, there was a blood bank in the US that wanted to increase donation rates.

Loyalty 141

Loyalty Banking Loyalty Programs Net Promoter Score 141

Lumoa

JUNE 26, 2023

Buyers will get a connected brand experience throughout all channels, including physical outlets, e-commerce stores, social media pages, and even through SMS and push notifications. But a connected user experience isn’t the only advantage of an omnichannel marketing strategy. This will help you generate a lot of more leads.

Omni-Channel 195

Omni-Channel Customer Experience Net Promoter Score Effort Score 195

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

OCTOBER 31, 2022

A recent article on PhocusWire helpfully outlined a range of security vulnerabilities common to loyalty programs. Most loyalty program operators now recognize the urgency of improving their platform security, but are still unsure how to proceed.

Travel 52

Travel System Loyalty Loyalty Programs 52

ShepHyken

JANUARY 7, 2024

Deloitte Shares Loyalty Trends and Best Practices for 2024 by Alicia Esposito (Retail TouchPoints) To drive customer retention and loyalty, most brands and retailers continue to rely on purchase discounts (77%) and loyalty program points (61%), according to Retail TouchPoints research. Connect with Shep on LinkedIn.

Customer Service 73

Customer Service Loyalty Programs Contact Center Loyalty 73

SurveySensum

JULY 9, 2024

From sending personalized recommendations to sending personalized offers or discounts on birthdays, anniversaries, etc, this personal touch creates an engaging connection between the customer and the brand – one that the customer keeps coming back to. Their Loyalty Programs. Yes, that’s right. In 2016, Starbucks had $1.2

NPS 52

NPS Loyalty Loyalty Programs Effort Score 52

Currency Alliance

DECEMBER 11, 2023

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. This is a major opportunity cost for every loyalty program. In this case, the contract is with the third party (i.e.,

Loyalty 52

Loyalty Loyalty Programs Brands Course 52

SurveySensum

NOVEMBER 1, 2024

Brands that excel in cultivating loyalty experience 2.5X Well, brand loyalty goes beyond simple recognition of your products; it’s about the profound trust and emotional connection customers have with your brand. The reason is the emotional connection generated by positive personal experience and satisfaction.

Loyalty 52

Loyalty Customer relationships Brands Sales 52

Kayako

AUGUST 21, 2018

In today’s market especially, consumers want to know their dollar is going farther than your bank account. By standing behind a social mission to truly drive change (on a global scale or in your own community), you can build a deeper connection between customers and your brand. Offer a Worthwhile Loyalty Program.

Customer Retention 123

Customer Retention Loyalty Strategy Loyalty Programs 123

Blake Morgan

JUNE 7, 2023

Alaska doesn’t try to reinvent the wheel or offer things customers don’t want–it understands its customers so well it can concentrate on excelling in the areas that matter most, including on-time flights, a solid baggage system, and an industry-leading loyalty program. And Alaska does it all by caring for individual passengers.

Airlines 59

Airlines Customer Experience Data Effort Score 59

Currency Alliance

OCTOBER 12, 2021

Loyalty partnerships with complementary brands are the best way to create additional value, for customers and for your business. Depending on the maturity of your loyalty program, you may already have some program partners, or be a partner in somebody else’s program. I’m a case in point.

Loyalty 59

Loyalty Loyalty Programs Airlines Travel 59

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

BirdEye

SEPTEMBER 11, 2023

Apple) High-quality customer experience helps businesses grow loyalty programs and referral campaigns, lowering customer acquisition and retention spending. Respond instantly to customers connecting to businesses via texting, social media messages, or chatbots to reduce wait times.

Customer Experience 114

Customer Experience Self Service Social Media How To 114

BirdEye

NOVEMBER 20, 2023

It offers features like visual marketing tools and loyalty program integration to enhance the customer experience. Yotpo’s major features include: Generates and leverages customer reviews Visual marketing features for social proof Loyalty program integration Smart algorithm for targeting Comprehensive analytics suite 7.

Software 64

Software Marketing Multi-Channel e-support 64

Currency Alliance

FEBRUARY 20, 2023

It is the most powerful, yet under appreciated module (or tool) in a loyalty marketing stack of software. The loyalty rules engine is the module that enables the types of promotions that are familiar from every major loyalty program. This would not require much of a rules engine – since your program has no variation.

Loyalty 52

Loyalty Loyalty Programs Social Media ROI 52

2020 Research

SEPTEMBER 1, 2022

In this article, we’ll walk through five takeaways we found in our 2022 US Banking Industry Loyalty Report , so you can better understand how to maintain brand trust: Share the “Why” Behind Your Business’ Purpose. Do not expect loyalty from your customers — earn it. Don’t Expect Your Customers to Be Loyal. The Bottom Line.

Brands 52

Brands Banking Advertising Loyalty 52

Currency Alliance

APRIL 15, 2024

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.

Loyalty Programs 52

Loyalty Programs Loyalty Airlines Banking 52

CSM Magazine

AUGUST 15, 2022

Banking Methods. When you’re dealing with different banking and transfer services from all over the world, things can get a little bit tricky. Promotional offers, bonuses, and loyalty programs. This is where customer service comes in. Multiple channels.

Banking 52

Banking Customer Care Loyalty Programs Customers 52

Kitewheel

FEBRUARY 11, 2020

Include one or two skip-the-queue passes when new customers sign up for your loyalty program and download your app. If you want to deliver great customer experiences, connecting more people to your owned media and loyalty program is key.

Airlines 52

Airlines Industry Loyalty Programs Travel 52

Currency Alliance

MARCH 21, 2019

Making the same progress in loyalty has been much more difficult. The typical incumbent loyalty technology platform comprises five core modules: CRM/Analytics Platform. Points Bank. Loyalty Rules Engine. 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

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

JUNE 28, 2023

When customers perceive that a brand values their unique needs and preferences, they form an emotional connection, enhancing their inclination to remain associated, refer friends and family, and make repeat purchases. Through its loyalty program, Starbucks rewards customers based on their purchasing habits.

Industry 52

Industry Tips Customer Experience Healthcare 52

Oracle

OCTOBER 10, 2019

For example, a financial services brand can now see on a single screen a customer’s bank balances, investing activity, credit data, and other products with the bank. This can help identify a customer who’s eligible for a loyalty program or a special rate due to the volume of business.

Financial 50

Financial Trends Technology Banking 50

Currency Alliance

MAY 9, 2022

Various loyalty systems have been built over the years specializing and catering to clients in one sector. When such systems provide an API to connect, they inherently force the requirements of the sector onto any other client. There is not even an effort in the loyalty sector to set standards. Flexibility: sector agnostic.

Loyalty 52

Loyalty Technology Loyalty Programs Multi-Channel 52

Currency Alliance

NOVEMBER 17, 2020

2021 will be another year in the long-term journey to become customer-centric, balance the economics of loyalty programs to deliver more value to customers, and ensure the right systems are in place to reduce dependencies on the IT department or vendors. Rebalancing loyalty program economics.

Loyalty 52

Loyalty Trends Loyalty Programs Travel 52

Currency Alliance

DECEMBER 7, 2021

But make no mistake; failing in the medium-to-long term on these Loyalty Imperatives will put your customer relationships at risk and ultimately damage your brand. Loyalty programs are no different. The good news is your loyalty program is one of the most effective ways to achieve significant differentiation.

Loyalty 52

Loyalty Trends Loyalty Programs Touchpoint 52

NetBase

MAY 26, 2020

The fact that these businesses can now leverage those connections into direct sales is huge. And doing so without leaving the platform may have implications for other online retailers such as Amazon or Walmart that don’t have that personal connection. Facebook is banking on ease of use as a factor in the success of Facebook Shops.

Ecommerce 97

Ecommerce Social Media Retail e-support 97

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. Improving customer insight and loyalty personalization.

Loyalty 52

Loyalty Marketing Airlines Loyalty Programs 52

Currency Alliance

MAY 19, 2021

Any brand can embrace headless loyalty services quickly and easily – even if you already have millions invested in an aging loyalty program. Since Currency Alliance operates in the loyalty sector, I can speak with more confidence about loyalty. Designing for connectivity. Data Management.

Loyalty 52

Loyalty Touchpoint Loyalty Programs Social Media 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. Most loyalty programs report how many members they have. referring friends.

Loyalty 52

Loyalty Marketing Loyalty Programs Touchpoint 52

Currency Alliance

DECEMBER 17, 2019

But there remain some fundamental things that loyalty programs need to achieve to weather the looming storm that open banking, mobile payments, aggregation models, and other marketplace dynamics will bring. More customers will want to earn more loyalty currencies – which is potentially fantastic for all brands.

Loyalty 64

Loyalty Strategy Loyalty Programs Travel 64

Beyond Philosophy

APRIL 3, 2016

The surveying, such as referenced by TD Bank, to identify what drives satisfaction-reducing pain will provide superficial guidance on emotional drivers of desired customer behavior. Though these tangible issues have some emotional connection, they are still fairly fundamental value components. Even total quality icon W.

Customer Satisfaction 92

Customer Satisfaction Customer Experience B2C Banking 92

Currency Alliance

MARCH 24, 2020

But there are things we can do to ease the financial stress of those most affected, give customers hope, and proactively manage loyalty program liability. Currency Alliance operates a B2B SaaS loyalty currency management platform. Currency Alliance already has integrations with dozens of travel loyalty programs.

Travel 40

Travel Loyalty Programs Airlines Hotels 40

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.

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.

Loyalty 52

Loyalty Loyalty Programs Ecommerce Touchpoint 52

CSM Magazine

JUNE 24, 2022

It’s clear to them that in order to have a rewarding and safe experience, they need to look into things like licensing information, reviews and ratings, and banking methods in addition to ensuring that the games they play are fair. Customers of online casinos should be able to pick from a number of banking solutions.

Customer Service 52

Customer Service Loyalty Programs e-support Banking 52