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This was my second year on the judging panel at the Loyalty Magazine Awards. What is great about The Loyalty Magazine Awards is the willingness to share why each brand won their award or received special recognition – which allows us, as practitioners, to learn, and not just enjoy the gin fizz. This effort is a marked improvement.
Many of the entrants to this years’ Loyalty Magazine Awards were as adept with data and technology as marketers in many other disciplines. The incredible degrees of customer engagement that have been achieved, should inspire and guide the efforts of loyalty marketers in the coming year. Hybrid points programs.
Achieve a 20% improvement in customer experience survey scores within the next quarter. Launching a rewardsprogram for loyal customers. However, leveraging a planning platform makes this process not only achievable but efficient and rewarding. For example: Increase monthly revenue by 15% in six months.
Supported management in efforts to increase productivity by motivating employees through improved rewardsprograms. Net promoter score: This number shows how likely current customers are to recommend a business to their friends and family. Promoters are divided into three categories: detractors, passives and promoters.
Banks have been in and out of rewardsprograms for decades – but their focus ebbs and flows depending on the economic cycle as well as the regulatory framework. Compounded in Europe by the slashing of interchange fees, banks have been left with reduced margins from which to carve out rewards value[v]. CX enhancements at scale.
We believe these trends will occupy most brands’ efforts during 2019. An example of effective alignment of strategy with tactics include Australia’s Coles Supermarket chain and its flybuys rewardprogram. This sounds remarkably simple, but this action delivered multiple benefits: driving program engagement.
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