An old complaint is that the dollar doesn’t stretch as far as it used to. Yet these days, loyalty reward points do.
This phenomenon is not so much an irony as it is a function of innovation among loyalty operators. Businesses have for decades recognized the financial benefits of rewarding customers for their brand loyalty. Program operators across industries, from healthcare to Broadway, have launched loyalty initiatives and relied on their points, offers and other incentives to engage and retain customers.
As these newcomers change ...
Banks are under-leveraging their loyal customer bases, missing out on opportunities to increase top-line growth by cross-selling additional services, according to findings of a comprehensive survey of U.S. bank customers conducted for FICO.
Consumers today use 6.05 banking services on average, but use only 3.37 of these services from their primary bank (where they keep their checking account). Only 30% of consumers surveyed have relationships with their primary bank that extend beyond checking, debit, and savings.
Some 78% ...
Dove, Adidas and JetBlue get high marks for loyalty program satisfaction, according to a new report from Bond Brand Loyalty, which has changed its name from Maritz Loyalty Marketing. In its fourth-annual study of more than 6,000 consumers, the agency found that 69% of participants in loyalty programs are satisfied with them.
"There aren't too many brands without some sort of loyalty program in place," said Scott Robinson, consumer loyalty strategist at Bond.