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Company news, and writing on digital transformation, chatbots and digital loyalty for banks and insurers.
- Digital loyalty
Implementing Loyalty Solutions: Practices and Common Pitfalls
Businesses with effective customer loyalty programmes see an improvement in revenue. According to a study, revenue improves anywhere between 25-95% when customer retention is increased by just 5%. Nevertheless, some businesses are unable to get the desired results from their loyalty programme because they fall victim to several crucial mistakes.
1 October 2023By Mehdi Hassan Haryani
Digital loyaltyChoosing the Right Loyalty Software: Factors to Consider
Once you’ve decided to start a loyalty program, the next step is usually determining how to go about doing so. One option is to build and run your program in-house, and another is to partner with a loyalty program provider who can offer the platform technology and capabilities needed to create the program you want.
30 September 2023By Mehdi Hassan Haryani
Digital loyaltyAssessing Your Business’s Loyalty Needs
According to the 2020 State of Loyalty Report from Bond Loyalty, US consumers belong to an average of 14 loyalty programs but are only active in about half of them. What makes consumers actively participate in some programs and not others? First and foremost, consumers need to see value in using the program; not just monetary value, but the overall value provided by the program.
29 September 2023By Mehdi Hassan Haryani
Digital loyaltyThe Future of Digital Loyalty: 6 Elements for anticipating Customer Needs
As is well known, keeping an existing customer is cheaper and more effective than acquiring a new one. And yet, surprisingly little value is attributed to customer retention. However, with the Corona crisis, a lot has changed: Many companies are now facing enormous challenges and communication is more important than ever.
28 September 2023By Mehdi Hassan Haryani
Digital loyaltyBlockchain and Loyalty Programs: Creating Secure and Transparent Rewards
In today’s economy, customer loyalty is highly sought after. With intense competition among retailers, brands don’t want to just retain and reward customers, but also keep their brand relevant and foremost in customers’ minds. As customer-centric business models become the norm, loyalty programs are a strategic investment that companies can’t afford to overlook.
27 September 2023By Mehdi Hassan Haryani
Digital loyaltyAI and Machine Learning: Enhancing Personalization in Digital Loyalty
AI-powered personalization involves using artificial intelligence and machine learning to analyze customers’ data, understand their preferences and needs, and tailor their experience accordingly. The implementation requires clear objectives, high-quality data, continuous testing and refinement, transparency, and integration across all touchpoints.
26 September 2023By Mehdi Hassan Haryani
Digital loyaltyDigital Loyalty Real-World Success Stories
44billion. But their monetary success isn’t the only thing to brag about — they’re also seeing huge success with the Nike loyalty scheme. According to the brand, their 100 million members spend roughly three times more than other shoppers. And since its launch, Nike continues to improve the loyalty program, turning it into one of the most successful programs in the ecommerce space.
25 September 2023By Mehdi Hassan Haryani
Digital loyaltyScaling Loyalty Programs for Businesses of All Sizes
When you’re implementing a rewards program that will keep customers engaged and loyal, you should have one eye on the future. Rewards, perks and interaction methods that won’t scale up as your company grows can present problems in years to come. To take consistent value from your rewards platform, it should be consistently enjoyable for customers to interact with.
24 September 2023By Mehdi Hassan Haryani
Digital loyaltyOvercoming Challenges in Digital Loyalty Implementations
Data from the University of Pennsylvania found that while loyalty schemes can be beneficial, they can increase friction with customers if things go wrong. The survey reported that 47% of customers say they are part of a loyalty program, but they were also experiencing more problems due to the higher frequency of engagement with a brand than regular consumers. The lesson is clear.
23 September 2023By Mehdi Hassan Haryani
Digital loyaltyAddressing Customer Concerns about Data Privacy
As a business leader, you think about how to increase revenue and grow your company. In the age of digital marketing and data collection, you also need to think about consumer privacy concerns and how they can impact your business. Companies are increasingly collecting data about their clients to improve customer service, target marketing, and track sales.
23 September 2023By Mehdi Hassan Haryani
Digital loyaltyReferral Programs: Power of Word-of-Mouth Marketing
“The secret to marketing success is no secret at all: word of mouth is all that matters” – Seth Godin. In an era dominated by digital marketing strategies, one old-school approach continues to hold sway – Word of Mouth (WOM) marketing. It is one of the most influential and organic ways to spread awareness and gain recognition for your association.
22 September 2023By Mehdi Hassan Haryani