Loyalty Expo prompts provider announcements
The Loyalty Expo began in the US yesterday and a number of companies have already made announcements
New stored value option from Givex
Allegiance and Loyalty 360 unveil new research focused on loyalty adoption practices
Challenges of international loyalty
New stored value option from Givex
Givex, a global provider of closed loop card technologies including gift, loyalty and other stored value programs, is launching the addition of the SKU (Stock Keeping Unit) Loyalty option for Givex clients using the Microsoft Dynamics Retail Management System (RMS).
Givex’s SKU Loyalty Program captures useful customer data with each transaction. Merchants can reward customers for the purchase of specified items and track purchases using Givex’s comprehensive reporting.
“Understanding the purchasing behavior of your most profitable customers and giving them incentives to deepen their relationship with your brand is critical,” says Karen Budahazy, executive VP, Givex. “SKU Loyalty is a fundamental component and we’re excited to offer it to RMS users. By combining the capabilities of SKU Loyalty with other tools such as email campaigns or couponing, businesses can open up new dialogue with the customer and make the relationship mutually beneficial,” says Budahazy.
Allegiance and Loyalty 360 unveil new research
Focused on loyalty adoption practices
Allegiance, a provider of voice-of-the customer solutions that help companies capitalize on engagement, and Loyalty 360, which describes itself as “an unbiased, market driven voice of the customer clearinghouse”, is unveil key findings from a loyalty practitioner joint industry survey titled “Loyalty Insights Study” at the Loyalty Expo being held this week at the Westin Diplomat in Hollywood, Florida.
Allegiance and Loyalty 360 conducted the survey to better understand the current adoption of loyalty, satisfaction, engagement programs and enterprise feedback management (EFM) practices within organizations. The study reveals several key insights for loyalty / engagement practitioners, including the importance of adopting a scientific measure for programs and understanding that employees provide a critical value to the success of programs.
Specific key findings of the report include:
– Most respondents are familiar with specific types of loyalty programs such as customer experience management, feedback collection and surveys, and are participating in them
– Slightly more than half of the respondents in the survey claimed to use a scientific measure of loyalty
– The majority handle loyalty programs internally rather than using a third party consultant or contractor
“This survey shows that companies are using a variety of systems to listen and respond to the customer. This can lead to duplication of effort and higher costs,” said Adam Edmunds, CEO of Allegiance. “Enterprise Feedback Management systems are now available that consolidate these programs and make the data immediately available to all departments. This increases the effectiveness of these programs and their positive impact on profitability.”
“The voice of the customer is growing ever more important in this day and age of consumer interaction and this survey is a reflection of these growing trends,” says Mark Johnson, President and CEO of Loyalty 360. “Today, loyalty professionals are involved with many different customer loyalty programs, and this research shows that there is an opportunity to be more efficient and successful when bringing traditionally separated data into a central location. Successful, engaged and empowered companies will be the ones who truly embrace such technologies.”
The Loyalty Insights Study will be available for download from the Allegiance and Loyalty360 websites: www.allegiance.com
www.loyalty360.org
Challenges of international loyalty
Rewards arvato services GmbH, the European provider of customized rewards management solutions, is speaking on the challenges and difficulties of achieving international loyalty during the Loyalty Expo this week.
“With this topic, we want to provide insight into how an international rewards portfolio can be designed and implemented, which opportunities and risks are associated with such a portfolio and what should be considered when designing and implementing an international customer loyalty program,” says Derk Moller, MD of rewards arvato services.
“Thanks to our many years of experience with international customers, such as Emirates Airlines for example, we understand the wants and needs of today’s international customers and how such wants and needs can be satisfied.”
Global customer loyalty programs are increasingly becoming the standard rather than the exception in the modern loyalty market. Today’s internet-savvy consumers show an active interest in how their favorite brands or service providers behave in the marketplace. In this manner, the consumers’ influence on the products and markets increases, thus also their influence on the loyalty market.
Transnational or even global loyalty programs such as The Emirates High Street (www.theemirateshighstreet.com), which is represented in 62 countries, have been able to successfully establish themselves on the market. Research has shown that more than 80% of a rewards portfolio in such a global loyalty program can be designed to meet global wants and needs. However, 20 percent of the rewards still cater to the very country-specific liking of the consumers.
“With this topic, we want to provide insight into how an international rewards portfolio can be designed and implemented, which opportunities and risks are associated with such a portfolio and what should be considered when designing and implementing an international customer loyalty program,” says Derk Moller, MD of rewards arvato services.
“Thanks to our many years of experience with international customers, such as Emirates Airlines for example, we understand the wants and needs of today’s international customers and how such wants and needs can be satisfied.”
Global customer loyalty programs are increasingly becoming the standard rather than the exception in the modern loyalty market. Today’s internet-savvy consumers show an active interest in how their favorite brands or service providers behave in the marketplace. In this manner, the consumers’ influence on the products and markets increases, thus also their influence on the loyalty market.
Transnational or even global loyalty programs such as The Emirates High Street (www.theemirateshighstreet.com), which is represented in 62 countries, have been able to successfully establish themselves on the market. Research has shown that more than 80% of a rewards portfolio in such a global loyalty program can be designed to meet global wants and needs. However, 20 percent of the rewards still cater to the very country-specific liking of the consumers.