3 Steps to Limiting Loyalty Fraud

Posted by Aimia on Oct 22, 2018 12:48:47 PM

Loyalty programs provide opportunities for people to get free stuff. As part of the loyalty game, engaged loyalty members look for ways to earn more points faster, which brands may provide through accelerated earn opportunities like double- or triple-points days, or buy 3 get 1 free offers, etc. However, as loyalty grows more complex, these earn opportunities may inadvertently create unplanned loopholes, which savvy members will certainly find. Remember when airlines had hidden cities? We’d book our flights through those cities to save money and/or earn extra miles. Unfortunately, unintended loopholes such as these can create an opportunity for loyalty program fraud. When looking to limit loyalty fraud, we recommend a three-pronged approach: Prevent-Detect-Monitor.

Read More

Topics: SmartJourney, Telco, Financial Institutions, CPG, Travel & Hospitality, Retail, Loyalty Strategy, Customer Data & Analytics

By the Book: Understand and Manage Your Loyalty Points Liability

Posted by Aimia on Oct 8, 2018 11:35:53 AM

 

Loyalty continues to be the number one strategy used by brands for retaining customers and lifting behavior. Aimia’s own clients see on average a 7x+ ROI and increased engagement among members, making their investment in loyalty worth it. When considering starting or revamping your loyalty, however, you need to determine if your program will be currency based (think points or miles) or not. If you decide a currency is imperative to your strategy, be prepared to partner with your C-suite, financial and legal teams on an ongoing basis. Today, regulation around points liability is becoming stricter, as governments want to protect the financial interests of consumers.

Read More

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

Whitepaper: Building a Customer-First Retail Future

Posted by Aimia on Oct 1, 2018 7:37:00 PM

There's no doubt that unique customer experiences are the future of retail. More and more, marketers are cultivating their strategies to deliver personalization . The age of individualized communications is at hand - and with the continuing evolution of technology and data insights, retail marketers have endless opportunities to cultivate their highest value customers for growth. This whitepaper explores the tactics and strategies marketers can use to not simply keep their brands alive - but to lead the marketplace with innovation, distinction and opportune interactions to better serve their customers.

Read More

Topics: SmartJourney, Retail, Customer Experience, Customer Data & Analytics, Loyalty Trends, Loyalty Strategy

Personalisation - The Path to Better Cx

Posted by Aimia on Sep 14, 2018 4:09:08 PM

 

What happens when a "trend" becomes a "must-have"? Personalisation has been a buzzword in the loyalty marketing realm for the past couple of years, yet it's no longer something that is a nice to have; in the age of the empowered customer, brands need to better serve customers an individualised experience. 

Read More

Topics: SmartJourney, Travel & Hospitality, Personalization, Customer Experience, Customer View, Loyalty Strategy

How Points Free Loyalty Can Limit Liability

Posted by Aimia on Aug 18, 2018 5:44:50 PM

 

Most businesses seeking a way to acknowledge their customers use "loyalty" programs that are scarcely more than surface-level engagement leveraging heavy discounts. This approach can alienate customers who are unable to differentiate between a slew of identical programs. And since these types of redemption programs use points as a form of currency that may sit on the books for years (depending), they require stakeholder buy-in across the organization - a challenge most marketers wish to avoid. 

Read More

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

Does Loyalty Still Work?

Posted by Aimia on Aug 18, 2018 4:24:54 PM

As brands struggle to differentiate their programs from others, "loyalty" as a retention strategy quickly becomes a glorified engagement and discounting program. This obviously cuts into margins and chips away at the consumers' trust of the brand.

Read More

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

Data-Driven Onboarding Generates Loyal & Engaged Members

Posted by James Riley, on Jun 18, 2018 10:50:11 AM

Acquiring a new member to your loyalty program is a great sign of growth; it’s a sign your member base is getting larger and therefore your revenue and margins are growing. That’s the usual perception and the reason why many marketers spend a disproportionate amount of their budgets on various forms of Above the Line (ATL) communication to attract new members. In reality and in most cases, this is the wrong approach. Yes, creating awareness of your brand and loyalty program is absolutely necessary and this is clearly required to attract new members. However, don’t think that your job is done once the new member picks up their loyalty card and walks through your door for the first time.

 

Read More

Topics: SmartJourney, Personalization, Customer Data & Analytics, Retail

Thoughtful Segmentation Leads to Growth

Posted by Aimia on May 22, 2018 6:31:25 PM

With the customer truly driving brand interactions, we as marketers need to talk to our customers individually and personably. Bringing this 1:1 communication to scale is the challenge, but it’s one in which we’re narrowing the gap each day. The following are ways in which advanced segmentation is bringing us closer to this goal.

Read More

Topics: Segmentation, Customer Experience, Customer View, Customer Engagement, Loyalty Strategy, Retail, SmartJourney

The Big Benefits of Personalization

Posted by Aimia on May 22, 2018 5:13:44 PM
It’s widely understood in the retail industry that personalization is key to connecting with customers. Companies understand that personalized communications and experiences have great influence on both customer retention and loyalty. However, the reality is many have yet to crack the code, and they often lack the tools to make it happen in a way that’s practical and efficient.
 
Read More

Topics: SmartJourney, Retail, Personalization, Omni-channel | Digital, Customer Experience, Customer Engagement, Customer View, Customer Data & Analytics

Aimia Featured on Worldwide Business With kathy ireland

Posted by Aimia on May 22, 2018 4:02:02 PM

Worldwide Business with kathy ireland®  recently invited Aimia's proprietary loyalty team to  discuss how brands can adapt to the changing landscape of business by taking a customer-first approach. 

This segment covers

  • Removing data silos and using analytics to develop a holistic view of the customer
  • How brands can evolve by focusing on the customer
  • The 5 milestones to ideal in growing your highest value customers
  • Identifying behavioral segments and evaluating customer value at each step of the customer journey
  • Influencing consumer behavior through meaningful communication
Read More

Topics: SmartJourney, Telco, Financial Institutions, CPG, Travel & Hospitality, Retail, Personalization, Omni-channel | Digital, Segmentation, Customer Experience, Customer Engagement, Customer View, Loyalty Strategy, Loyalty Trends, Customer Data & Analytics