When it comes to subscriptions, there always comes evaluation. Here’s why members choose to renew their premium loyalty programs.
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Loyalty Marketing & Rewards
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Loyalty Marketing & Rewards
The latest news & trends on all things customer loyalty, acquisition, engagement & retention Curated by the first club™ |
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Loyalty systems were some of the first marketing technology, dating back 35 years.
Now, these legacy systems are showing the strain.
Enterprises everywhere are migrating to microservices in order to reduce costs, increase agility and to achieve more with their data.
Making the same progress in loyalty has been much more difficult.
The typical incumbent loyalty technology platform comprises five core modules:
CRM/Analytics Platform
Campaign Management
Points Bank
Loyalty Rules Engine
the first club™'s insight:
Microservices is the future to build efficient loyalty solution. Check this article to know more
#Loyaltyprogram #RewardPlatform
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Loyalty programs once enabled relatively personalized marketing. Now, to become relevant to more customers, brands must revisit the partner mix.
the first club™'s insight:
Marketers always try to better understand consumers, one way is through personalization. Not the only way but this will provide you another set of good insights
#Loyalty
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A spike in recent news around loyalty coalitions – both good and bad – signals the dawn of a new, vastly more profitable iteration of the coalition model.
the first club™'s insight:
We all dream about a single loyalty currency, one way forward on this is to look at Coalition loyalty and to understand it, this is a very good article #Loyalty #CoalitionProgram
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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”. By Charles EhredtCEO at Currency Alliance People are more likely to leave their spouse than their bank, so it might seem that banks have no case to answer. […]
the first club™'s insight:
Can money buy loyalty,: most likely not but this article give you an interesting view on the matter
#Loyalty
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From
kobie
Say you’re a healthcare provider trying to encourage patients to engage with their fitness app. Or you’re a content provider… Continue reading →
the first club™'s insight:
Emotion, Emotion, Emotion, when you create this link with your clients you clearly increase loyalty. Technology plays an important role in this area #LoyaltyProgram
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From
www
Most people think of loyalty programs as an airline giving miles to frequent fliers, a hotel giving points toward a stay or a restaurant offering a punch card incentive. While these may be called loyalty programs, I’ll argue that they are actually marketing programs disguised as loyalty programs.
the first club™'s insight:
I am a big advocate of reward program and have often explain many companies could start with one before moving toward a full loyalty program. If you are at that stage, this article will give you some good insight on what more you can provide to go beyond Reward only #RewardProgram
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From
blog
Loyalty members that go dormant don't have to be gone forever. Find out from Anna Cunningham from Hive.co how you can use winback emails to re-engage them!
the first club™'s insight:
#CustomerEngagement is what all company are looking for nowdays. Re-engaging is important so we thought we would share this article
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Over the past few years the marketing community has consistently expressed the need for a single view of the customer. This paper describes the impact that a universal customer view can have on all customer experience (CX) efforts. With the proliferation of transaction channels, payment choices, communications media and customer engagement platforms, the ability to […]
the first club™'s insight:
Thanks Mike, The Universal View of Customer will massively change how Loyalty programs are setup and thought through. Is it the end of the Loyalty Silo.....
#LoyaltyProgram #LoyaltyStretegy
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How to implement a loyalty program that will work for your business, and not just distribute discounts between your clients. Editor’s Note: Elena Naumchik, CLMP, an expert in loyalty programs and customer experience management from Russia, prepared this two-part guide for enterprises who want to start a loyalty program for the first time and avoid […]
the first club™'s insight:
After the Par 1 here is the Part 2. Great insight if you want to properly implement your Loyalty program
#LoyaltyProgram
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From
www
New banks are cashing in on emerging tech to challenge the traditional financial services structure
the first club™'s insight:
Convenience is not the new loyalty but certainly in the top 3 criteria expected by consumer to use any services
#LoyaltyProgram
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From
www
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.
the first club™'s insight:
We all know the importance of Data, but which data do we need??? #Analytics
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From
www
CRM and loyalty work in concert to engage a broad range of consumers and develop deep relationships.
the first club™'s insight:
CRM & Loyalty do work in concert, but for many companies with no loyalty program, they can easily just add a reward program to their CRM solution, limiting their cost and gathering important insight on their client #CRM #LoyaltyProgram #RewardProgram
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As I continue to observe loyalty programs across multiple sectors, time and again I see failures that can readily be solved-for. These sins are committed on a daily basis in both consulting and managing global client-side programs. There is no excuse for their existence, but time and again they are apparent to the trained eye […]
the first club™'s insight:
Very often we like these articles with summary of key issues or key points on a topic. Loyalty Marketing being important to us...thanks @DavidSlavick for sharing.
#LoyaltyMarketing
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Every business today, regardless of industry, faces the threat that its goods and services will become commoditized vis-a-vis competition. Winning in this environment requires differentiation through the creation of memorable experiences. By Raj Badarinath It’s all about the Customer today. People have more options than ever and online retailers are making it easier and more […]
the first club™'s insight:
When you use technology like we do, the CREEPY versus COOL is always on top of mind, technology does not always produce the expected results. Great article from our friends @TheWiseMarketer #LoyaltyPrograms
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From simple discounts to cosmetic makeovers, every interaction your brand has with a customer is an opportunity to create a memorable loyalty moment. Combining transactional benefits with experiences that are directly relevant to your best customers will increase your chances of attracting new members and cultivating a long-lasting relationship. Transactional Benefits Are Stil
the first club™'s insight:
Transactional benefits have always been on key in our point of view, but discount not so much. This is why we promote the idea of micro rewards so you can make every interaction with your brand a memorable moment. Thanks @Clarus for sharing these thoughts #LoyaltyProgram
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From
blog
Customer feedback is incredibly important, but how do you get it? Learn how Nanoleaf used their loyalty program to get more feedback and how you can, too!
the first club™'s insight:
If you ask your customer their feedback on your products / services and incentivise them for it, they will help you. This will provide you incredibly valuable information allowing you to improve these products/services.
#CustomerEperience
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Great customer experience ensures you will have long, loyal relationships with customers. See why customer experience is important, what it is, and more.
the first club™'s insight:
Customer Experience is so important nowadays, some people think how you deliver is as important as what you deliver. Great read.
#CX
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Part One How to create a loyalty program that will work for your business, and not just distribute discounts between your clients – Part 1 of 2. Editor’s Note: Elena Naumchik, CLMP, an expert in loyalty programs and customer experience management from Russia, prepared this guide for enterprises who want to start a loyalty program […]
the first club™'s insight:
Our friends at The Wise Marketer, provide great content how to put together your loyalty program. We are always happy yo share their content #LoyaltyProgram
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Differentiation is the name of the game in today’s retail loyalty world. If your loyalty program is a run-of-the-mill offering that fails to engage, entice, or personalize, then it might be time to consider a change. To truly differentiate your loyalty program, you have to listen to your customers, identify their pain points an
the first club™'s insight:
As a company you most likely want to be unique, so you should truly consider your your loyalty program to be unique too....
#LoyaltyProgram
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There’s no doubt that loyalty is harder than ever. With so many buying options out there, it’s hard to build deep relationships with consumers. If you’re a retailer, you’ve felt this. Even customers agree. By Paul Wolfer But when you can build loyalty, it’s extremely powerful. Ever hear of the 80/20 rule? In retail, it […]
the first club™'s insight:
We are always talking about knowing your customers and loyalty is all about cultivating the relationship with these clients. But let's not forget frequency of purchase or value or purchase are not always the main criteria for who are your best customers
#LoyaltyPrograms
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From
blog
Customer engagement is a buzzword that everyone seems to know but isn't easy to quantify. Learn how to define, calculate, and encourage it within your business
the first club™'s insight:
All you need to know about customer retention
#CustomerRetention
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Your in-store associates aren't being talked about nearly enough. Find out why your in-store associates can be your biggest loyalty program assets.
the first club™'s insight:
Your employees are your best asset... Trained properly and given the right level of decision power they are doing wonders whatever sector you are in #LoyaltyProgram #EmployeeMotivation @Clarus
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From
blog
Improving your customer retention rate is one of the most profitable ways to grow your business. Learn how it's measured and what you can do to improve it.
the first club™'s insight:
Great insights on how to measure customer retention and grow it.
#CustomerRetention
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80% of millennials would be willing to join a premium loyalty program if their favorite retailers offered one. Here's why.
the first club™'s insight:
The stats in this article show 2 main points: Millennials are used to subscription and are ready to pay for it if they see value in the service. #LoyaltyPrograms #MillennialsLoyalty @Clarus
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The secret of subscription..... interesting insights on why consumer renew their subscription.....for a loyalty program
#LoyaltyProgram