<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=591586&amp;fmt=gif">

How Big is Your Churn Problem?

Posted by James Riley on Apr 30, 2019 12:22:03 PM

Every loyalty or CRM program has a churn problem. The question is, how big is the problem?

Setting Expectations of Churn

The definition of churn can vary enormously by industry and transaction frequency. Once you define your churn, before you set targets and compare to industry benchmarks, reflect on your core business KPIs and the maturity of your program.

Read More

Topics: Customer Data & Analytics, Personalization, Financial Institutions, Telco, Retail, Travel & Hospitality, CPG, SmartJourney®

Building Customer Loyalty: The Value of Tiers

Posted by Emily Grill on Apr 28, 2019 2:16:35 PM

Today’s loyalty landscape is saturated with the typical spend and get model. With “86% of loyalty marketers us[ing] points and 75% us[ing] instant cash-back or discounts in their program1,” customers are yearning for brands to “wow” them with a differentiated experience. In order to win, brands need to think beyond the status quo to elevate their customer loyalty.  

Read More

Topics: Personalization, Financial Institutions, Telco, Loyalty Strategy, Retail, Travel & Hospitality, CPG

Banking Loyalty: Personalization, Engagement and Blockchain

Posted by Aimia on Mar 18, 2019 5:08:00 PM

Loyalty in the banking sector is typically driven through credit cards. According to a recent Bankrate study, there are approximately 2 billion credit card holders in the USA alone, and each person carries four credit cards on average. Additionally, the rise of fintech start-ups is threatening the share of wallet for even the largest of banks. The competition is real and intense! To differentiate themselves, banks need to center their offering on core customer needs and evaluate their loyalty strategy to draw synergies from these emerging start-ups.

Read More

Topics: Personalization, Financial Institutions, Loyalty Trends, Customer Engagement

Six Ways CPGs Use Loyalty to Drive Revenue

Posted by Kelli Ask on Feb 13, 2019 3:43:00 PM

As CPGs continue to navigate the direct-to-consumer landscape and finding ways to improve their customer experience and campaigns, loyalty continues to be the primary tactic to enable personalization, increased engagement and customer growth. 

Read More

Topics: Customer Experience, Personalization, Loyalty Trends, Loyalty Strategy, Customer View, Customer Engagement, CPG

The 4 Analytics Tools Marketers Need

Posted by Sara Galloway on Feb 11, 2019 4:51:36 PM

 

Successful brands use data to direct business strategy, optimise customer journeys and craft relevant content to build long-term relationships. The beauty of loyalty is it’s the most influential mechanism for capturing customer data while operating within data privacy regulations because the fundamental principle of loyalty is a customer willingly volunteers their data in exchange for benefits. As they opt-in to the terms of the program, marketers can serve up offers and content that helps emotionally bond the customer to the brand. However, many brands are struggling to pull insights from their data from which to build the strategy and campaigns to make their data come to life for them.

To start their data and insights strategy, marketers should consider their primary goals, likely personalisation, comprehensive view of customer, customer growth, churn reduction, etc., from which to establish KPIs that align with business needs. These KPIs go beyond loyalty program mechanics and metrics to affect all business units, from operations carrying out customer experience to merchandising determining the products to feature to marketing as a whole in making acquisition more cost-effective.

The point to remember is that the goal of both technology and strategies is to make data useful. This may require that some data is pared away or left unused. As such, the platforms and strategies that brands choose to adopt should focus on structuring data into unified, accessible views that will enable the team to design successful strategies.  

Read More

Topics: Customer Data & Analytics, Personalization, Loyalty Trends, Loyalty Strategy

Putting Personalization Into Play

Posted by Erin Raese on Jan 16, 2019 1:09:41 PM

Every brand is working to deliver personalization as effectively as they can, and with good reason. Personalization can reduce acquisition costs by as much as 50%, lift revenue by 5% to 15%, and increase the efficiency of marketing spend by 10% to 30%. However, according to Ascend2, 63% of marketers list personalization as one of their top challenges. Numbers like these, and cautionary tales told by experts like Gartner that “marketers must tread light in their personalization efforts to appease both consumers and regulators” make personalization seem much more difficult than it is. In fact, a key to easy personalization is loyalty, simply due to the fundamentals of the data exchange inherent in loyalty initiatives.

Read More

Topics: Personalization, Financial Institutions, Telco, Retail, Travel & Hospitality, CPG

Trends Disrupting Loyalty: Going Beyond Points

Posted by Erin Raese on Jan 14, 2019 3:44:00 PM

Make no mistake here – we’re not suggesting brands do away with points or get rid of currency entirely. You can make your program look like whatever you want it to. What we’re suggestion is thinking outside of points in terms of structuring your loyalty program. Many brands hesitate to implement a traditional program because of the liability that may be associated with points. This requires marketers to gain additional buy-in and expertise from their financial and legal teams. Or, some brands see points-based loyalty as another deep discount mechanism that lacks differentiation from one business to the next.

Read More

Topics: Customer Experience, Personalization, Financial Institutions, Telco, Loyalty Strategy, Retail, Travel & Hospitality, CPG

New Year, New Loyalty

Posted by Erin Raese on Jan 4, 2019 10:45:24 PM

 

The one investment you need to make this year is...

Loyalty.

Seriously. We're not just being biased here. Read on.

Want to personalize63% of marketers are struggling with data-driven personalization.
Want to solve for the huge churn from one transaction to the second and third transaction? Increasing retention by 5% can yield 25% to 95% increase in profits.
Want to create a shared, single view of customers across all business units? 

Read More

Topics: Customer Experience, Omni-channel | Digital, Personalization, Financial Institutions, Telco, Loyalty Strategy, Customer View, Retail, Travel & Hospitality, CPG

6 Trends Disrupting Loyalty

Posted by Erin Raese on Nov 12, 2018 6:56:32 AM

Read More

Topics: Customer Experience, Personalization, Financial Institutions, Telco, Loyalty Trends, Loyalty Strategy, Customer Engagement, Retail, Travel & Hospitality, CPG

5 Ways QSRs Can Increase Revenue and Margins for 2019

Posted by Erin Raese on Nov 5, 2018 7:47:10 AM

 

As leading QSRs look to stay competitive, it’s time to do more with data. For too long, restaurants have used punch cards – first physical then moving into the digital realm with mobile campaigns – to reward loyal customers.  While punch cards are a great engagement and repeat purchase tactic, they don’t collect the most important customer data. Your competition is beginning to invest in next gen retention strategies and technology to collect customer data to deliver personalized experiences across each customers’ journey.  Once you have critical customer data in hand, you can look across verticals and adopt the tactics other brands are using to increase engagement and retention.  

 

Read More

Topics: Customer Experience, Omni-channel | Digital, Personalization, Loyalty Trends, Loyalty Strategy, Customer View, Segmentation, Retail