Rewards Blog

Are You Communicating Your Advocacy to the Consumers Who Benefit from It?

Sep 1, 2017

Plenty of research underscores the value of loyal customers who advocate for your financial institution. They tend to purchase more products, do more business with you and help grow your business through referrals. But is your Institution giving customers the same consideration? Is your bank advocating for them and, just as important, do your customers […]

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Nurturing Near-prime Customers to Evolve into Prime Ones

Aug 15, 2017

Retail establishments routinely fight to win over the best customers. Those with expendable funds and/or a willingness to use credit to buy products from them. While its challenging, those that build the right customer experience have found loyalty in a very price conscious market. Companies like Amazon, Overstock.com, Target, and even Best Buy now have […]

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Balancing Loyalty Program Costs and Rewards to Create a Win-Win for Banks and Customers

Apr 7, 2017

A loyalty program should be a win-win for both consumers and the brand that fields the program. However, that’s frequently not the case. Too often, programs tip too far in favor of one party or the other. A program that delivers more benefit to the brand than customers will soon lose members. Meanwhile, one that […]

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Mobile Emerges with the Most Power to Drive Loyalty

Mar 17, 2017

Loyalty programs have multiple factors going for them in terms of engaging consumers, but the fundamental one is this: consumers want more value. In exchange for handing over their hard-earned dollars, customers want something more in return than just the products or services they’re paying for. They want added value, and loyalty programs excel at […]

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Tweaking Your Way to Loyalty Program Success

Dec 2, 2016

The banking industry lives and dies by relationships. Establishing a mutually beneficial customer-bank relationship is fundamental to everything banks do, so it’s no surprise that so many financial institutions have turned to loyalty programs to help them deepen customer relationships. Americans have embraced loyalty programs, establishing 3.3 billion memberships in 2015, according to Colloquy. A third […]

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