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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Loyalty, Rewards & Engagement for Customers and Employees....Reward The World
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Loyalty, Rewards & Engagement for Customers and Employees....Reward The World
The latest news, information and trends on all things customer loyalty and acquisition, including strategies for engagement & retention Curated by the first club™ |
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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
the first club™'s insight:
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From
www
‘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.
the first club™'s insight:
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.”
the first club™'s insight:
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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Avoid these top ten mistakes that can cause your incentive program to have the opposite effect that you intended!
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According to recent data from Blackhawk Network, shoppers need an incentive to join—like free stuff or cash back.
the first club™'s curator insight,
June 20, 7:35 PM
This is our experience as well...and #digitalrewards offer low cost, high value pay-on-redemption opportunities to reward new members, plus we share the transactional data with Brands. #eGifts #customerengagement
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In yet another sign that consumers are quick to sign up for a loyalty program to get a good deal, a recent study from CrowdTwist found that many are indeed drawn to discounts and free products, more so than other types of rewards.
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According to recent data from Blackhawk Network, shoppers need an incentive to join—like free stuff or cash back.
the first club™'s insight:
This is our experience as well...and #digitalrewards offer low cost, high value pay-on-redemption opportunities to reward new members, plus we share the transactional data with Brands. #eGifts #customerengagement
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From
www
Consumers act according to the rules, and when there is a fair and relevant reward, trust is built. This is where true loyalty comes from. If a loyalty program is too complex or out of reach—trust won’t ever be achieved.
the first club™'s insight:
Customers need to know your brand “gets them.” Meaningful access or choices based on “knowing” a customer add significant value to a loyalty program and can even make being a member essential. -Forbes
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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 […]
the first club™'s insight:
Nicole Wilhelm discusses Keeping customers engaged in a loyalty program through the perpetual change in the loyalty landscape
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From
colloquy
Machine Learning is a hot topic in the world of customer loyalty and it is important to understand the emerging technology’s relevance to marketing, as well as how it could impact your business moving forward. Find out how @colloquy
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Today’s employers face a challenge their predecessors did not encounter: having five different generations in the workplace at the same time. Generational differences in technological fluency, work style and communication expectations combine to tax even the most accomplished leaders and enlightened organizations. By Len Vraniak So how do the most successful companies keep this diverse […]
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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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Transactional loyalty models are good. Transactional / relational customer loyalty models rock.
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artificial intelligence has the potential to transform the customer experience
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The Challenge of Collecting Customer Loyalty Data. By Bill Hanifin If data is the new oil, then the customer data collected by loyalty programs must represent refined high-octane fuel at the marketer’s pump. There is research, survey, and anecdotal evidence that consumers possess heightened awareness of the value of their personal data to third parties. …
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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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2018 Trends: Building the Loyalty Experience
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entitlements, and research suggests1 that especia
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7-Eleven is leading digital transformation as well as pioneering a new era of loyalty programs.
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Driving loyalty for a British icon; Sparks at Marks and Spencer
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