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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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Transactional benefits are still valuable, but in the Age of the Customer, retailers have to stop thinking in points. See how to find the balance.
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A collection of every relevant customer loyalty statistic from 2018, complete with links back to the original sources.
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On Point Loyalty, LLC announced the release of its first annual report on the Top 100 Most Valuable Airline Loyalty Programs around the world, providing the first-ever comprehensive, data-driven ranking of the value of airline loyalty programs. The most obvious takeaway from the report: despite consumer grumbling about the ever-decreasing value of their miles and …
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Ever since loyalty programs evolved from a means to retain customers to a means to generate cash for their operators, there is an inherent tension between reaping profits from expiring points and engaging members through rewards. New redemption options may offer a way out of this conundrum. By Oli Dervey In the beginning, it was […]
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Executing a Loyalty Program Checkup is not just about updating the Program Design – A Plea for Considering the Internal Hygiene Factors of a Loyalty Program. Once implemented and launched, each marketer responsible for a loyalty program needs to answer these challenging questions: How is my program actually performing, and does the program meet the […]
Nicole Wilhelm discusses Keeping customers engaged in a loyalty program through the perpetual change in the loyalty landscape
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Avoid these top ten mistakes that can cause your incentive program to have the opposite effect that you intended!
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While the number of loyalty programs has increased, they can often actually destroy value for companies.
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Dreze warns that loyalty programs must carefully weigh the “price” of their rewards. A free trip every two or three years is not enough to keep a consumer engaged with the program. “That’s the problem with the small flyer. They never get to the point where they get the reward. That’s where all the partners can come in,” says Dreze. “The reward needs to come often enough so that there is reinforcement. At the same time, it can’t be too close. Then it wouldn’t be meaningful.”
Dreze warns that loyalty programs must carefully weigh the “price” of their rewards. A free trip every two or three years is not enough to keep a consumer engaged with the program. “That’s the problem with the small flyer. They never get to the point where they get the reward. That’s where all the partners can come in,” says Dreze. “The reward needs to come often enough so that there is reinforcement. At the same time, it can’t be too close. Then it wouldn’t be meaningful.”
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'Industry Outlook for 2019' reports strong optimism around noncash reward and recognition budgets in 2019, with increases in merchandise spend, gift-card spend and the number of participants earning a reward," said IRF president M
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As the captain at the helm of your company's finances, it's critical that you chart a course that steers clear of dangerous liabilities. Not all liabilities, however, can be averted - in fact, some are part and parcel for increasing your company's bottom line. One such necessary hazard is…
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B2B loyalty programs have the potential to influence customers in ways B2C loyalty programs can't. Learn how to leverage a B2B loyalty program.
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After reviewing all the news reported during 2018, our staff identified 4 topics that you needed to know about as we transition into a new year. In part 1, we covered: 1.The Biggest News in Customer Engagement and Loyalty from 2018 2. #loyaltyprograms #customerengagement #digitalrewards
Crumbling of the coalition model is something we didn't expect, but we know "There is an expectation from our customers that we (brands and marketers) listen more, ask for their opinion more frequently, and consistently take actions that show we are listening.
That will be the story for 2019." Bill Hanifin
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2018 was a newsworthy year in customer engagement and loyalty marketing. Even though we live with this industry daily, there is often so much change during a year that it’s easy to forget which news mattered most. We took some time to review everything we covered throughout the year and identified 4 big topics for […]
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As the captain at the helm of your company's finances, it's critical that you chart a course that steers clear of dangerous liabilities. Not all liabilities, however, can be averted - in fact, some are part and parcel for increasing your company's bottom line. One such necessary hazard is…
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WarnerMedia's library of 7,000 films and 5,000 shows may not alone be enough to face off against a streaming giant that is spending up to $13 billion annually, so an NBCUniversal team-up could make sense.
Big changes afloat for the networks all vying to gain customers in the #subscriptioneconomy
Big changes afloat for the networks all vying to gain customers in the #subscriptioneconomy
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Loyalty programs have significant challenges (i.e. points expiry, points devaluation, etc) which have still not been resolved. Until consumer benefits are not aligned with programs business model we will not progress. There is one thing we can say for sure is technology allow to reduce significantly the cost of building, running and managing loyalty programs but also make them more frictionless. Blockchain technology is interesting but a number of key issues remain: technical: how the technology behave with very high level of transactions, current test show serious speed challenges; the security is not full proof when you enter and exit the blockchain; If nobody control the data/transactions, what happen if I, as a user, want access to my data or correct a transaction; and what about the currency? Most user want stability in this area. All these challenges need to be addressed in order for distributed ledger technology to be used for coalition programs.
Coalition programs may not be the answer for large brands but certainly a great option for SMEs…
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B2B loyalty programs have the potential to influence customers in ways B2C loyalty programs can't. Learn how to leverage a B2B loyalty program.
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- New data from an extensive survey among HR professionals and employees in large enterprises reveals a large gap of untapped potential for on-the-spot
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'Industry Outlook for 2019' reports strong optimism around noncash reward and recognition budgets in 2019, with increases in merchandise spend, gift-card spend and the number of participants earning a reward," said IRF president M
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‘The consulting partners that make the time and investment to educate and train are the ones that are making progress,’ AWS CEO Jassy tells an audience of solution providers at AWS re:Invent 2018.
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WarnerMedia's library of 7,000 films and 5,000 shows may not alone be enough to face off against a streaming giant that is spending up to $13 billion annually, so an NBCUniversal team-up could make sense.
Big changes afloat for the networks all vying to gain customers in the #subscriptioneconomy
Big changes afloat for the networks all vying to gain customers in the #subscriptioneconomy
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We’re living through an age defined by trust—and its troubling absence. Declining public trust in politicians, big institutions, the media, and even other citizens has made our politics increasingly charged and confrontational. But as you might expect, problems of trust aren’t confined to the ballot box. They also affect how we navigate the marketplace as […]
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While the number of loyalty programs has increased, they can often actually destroy value for companies.
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Dreze warns that loyalty programs must carefully weigh the “price” of their rewards. A free trip every two or three years is not enough to keep a consumer engaged with the program. “That’s the problem with the small flyer. They never get to the point where they get the reward. That’s where all the partners can come in,” says Dreze. “The reward needs to come often enough so that there is reinforcement. At the same time, it can’t be too close. Then it wouldn’t be meaningful.”
Dreze warns that loyalty programs must carefully weigh the “price” of their rewards. A free trip every two or three years is not enough to keep a consumer engaged with the program. “That’s the problem with the small flyer. They never get to the point where they get the reward. That’s where all the partners can come in,” says Dreze. “The reward needs to come often enough so that there is reinforcement. At the same time, it can’t be too close. Then it wouldn’t be meaningful.”
Scoop.it!
Avoid these top ten mistakes that can cause your incentive program to have the opposite effect that you intended!
Brands must think beyond points and about personalized customer engagement. Great post by @claruscommerce