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The financial industry is starting to understand the value of loyalty programs as strategic instruments to improve client satisfaction and loyalty in along with serving as a way to show thanks. It's evident from the rise in loyalty programs that traditional ideas of loyalty are extending into the world of digital media and providing consumers with additional value, convenience, and tailored experiences. #finance #loyaltyprograms #punchcards #valueprogram #moneyback #satisfaction #value #customer #rewardprogram #rewards #financeservices

In today’s dynamic arena of financial services, where customer loyalty is paramount, the journey towards acquiring, engaging and retaining consumers is an intricate one that goes far beyond basic transactions. For the modern consumer, the allure of travel rewards is not just about the destination but also about elevating the journey. So by carefully curating a diverse portfolio of benefits and rewards, banks not only enrich the cardholder’s journey but also enhance their banking experience day to day. This, in turn, increases card spend, fosters loyalty and ensures that an issuer’s card remains top of wallet. Read more: https://lnkd.in/d_hSn_Tg Authored by: Priyanka Lakhani, senior vice-president, commercial, EMEA at Collinson International. #Travel #Banking #Finance #customerloyalty #financialservices #travelbenefits

🌟 #ThrowbackLoyalty: The Dawn of Loyalty Programs 🌟 Did you know the roots of modern loyalty programs stretch back centuries? The fascinating history of these programs reveals their evolution and how they've shaped customer engagement over time. 🏺 Ancient Beginnings: Surprisingly, a model similar to today's loyalty programs was practiced in Ancient Egypt! Citizens were rewarded with tokens for work, which could be exchanged for goods, akin to modern-day reward points. 🔑 The Modern Era Starts in the 1850s: Fast forward to the 1850s, and we meet the true pioneer of modern loyalty programs, B.T. Babbitt, in New York City. Known for inventing the individual bar of soap, Babbitt introduced trade marks as a loyalty currency. This innovative concept transformed customer engagement. 🛒 A Shift to Coalition Programs: In 1896, The Sperry & Hutchinson Company launched the S&H Green Stamps program in New England, marking the beginning of major coalition loyalty programs. Throughout history, loyalty programs have used various currencies like trademarks, checks, tickets, coupons, stamps, and even points. But the core idea remained the same: rewarding customers for their loyalty and stimulating repeat business. 🔄 A Consistent Core, A Changing Periphery: While the currencies and methods have evolved, the fundamental design of rewarding customers for spending has remained a consistent driver of loyalty programs. This rich history not only reflects the ingenuity of businesses in retaining customers but also highlights how customer engagement strategies have been pivotal throughout the ages. #loyaltyprograms #customerengagement #marketinghistory #throwbackloyalty #ancientbeginnings #modernera #coalitionprograms #consistentcore #loyaltyinnovation #journeyofloyalty #globalloyalty #customerconnection #timelessrewards #globalinfluence #puzzleofloyalty #loyaltyinnovation #journeyofloyalty #globalloyalty #customerretention #evolutionofengagement #businessgrowth #customerconnection #timelessrewards #globalinfluence #puzzleofloyalty

Do you want to know what the future of loyalty programmes looks like? Imagine a world where you can manage all your loyalty programmes with ease and receive hyper-personalised rewards in real time. In her upcoming video, Sales Enablement Specialist Sofiia Mamedova explains why next-gen loyalty programmes are already a reality. She talks about how transparent, privacy-first data sharing through Open Banking is shifting the landscape for consumers and businesses. For consumers, the benefits are clear: speed, ease, and a fantastic experience with the rewards they love. At the same time, businesses are supercharging their customer lifetimes, engagement and long-term value. Sofiia uses several real-world examples to show how Open Banking is driving these benefits. One of these use cases is EuroBonus from Scandinavian Airlines (SAS), one of the most successful (if not THE most successful) loyalty programmes in the Nordics. Crucially, she also explains how businesses can take advantage of this technology right away. Stay tuned for the full video. It's landing soon! 🎥

The credit card rewards game is changing. North American consumers want more reward options that meet their everyday needs, while card issuers seek more effective and profitable ways to meet their cardholders’ expectations. Our new report, State of Loyalty: 2024 Credit Card Rewards, examines the challenges facing credit card rewards programs, as well as which rewards are working and what’s next for the industry. A growing number of card issuers now offer more redemption options for everyday activities like dining and gas, aligning with consumer preferences and economic realities. This shows that issuers are listening to their cardholders, but does it give them a competitive edge? Download our new report, The State of Loyalty: 2024 Credit Card Rewards Report https://hubs.ly/Q02rSQm20, to learn how your credit card company can build stronger customer relationships. #loyaltyprograms #TravelLoyalty #travelloyaltyprograms #customerloyalty #creditcardrewards #sustainability #lifestylerewards #everydayrewards

Don't miss our article in Bank Director where we discuss why building a solid and consistent brand is crucial for financial institutions to establish trust and customer loyalty. . . . https://lnkd.in/gaCc84ur

For business owners across diverse sectors, embracing card payment systems is a transformative move. ✅ Swift transactions in retail drive repeat business. ✅ Service providers benefit from streamlined financial interactions and lasting client relationships. ✅ In hospitality, card payments enhance the guest experience. Card payment systems are not just about transactional efficiency. They're strategic tools that elevate customer engagement and loyalty. Retail sees increased sales, services build client loyalty, and hospitality streamlines operations. And REMEMBER, Choosing the right card payment provider is crucial 💯 Opt for a provider that not only ensures efficient transactions, but also supports your savings and growth 📈 It's not just about modernising. It's about optimising and future-proofing your business, regardless of the industry. #cardpayments #independentpaymentsolutions

It may be another bank holiday here in the UK, but here's a thought about making customer service intuitive. Let's think about how we can smooth the path for our customers and ensure access to the services we offer is seamless.  It makes you think, doesn't it? #MondayMotivator #SeamlessCustomerService #CustomerExperience #MotivationMonday #ServiceExcellence #CustomerSuccess #InspireMonday #CustomerSatisfaction #DriveToSucceed #MondayVibes

Are you getting the most from your credit card loyalty program? Check out our latest report, State of Loyalty: 2024 Credit Card Rewards, to learn more. #loyaltyprogram #travelloyalty #customerloyalty #TaaS #LaaS

You are what you do, not what your marketing says you do. Look at the latest UK Customer Satisfaction Index (UKCSI), highlighting the UK brands customers are most satisfied with. Banking pops up a lot, with Nationwide, Starling, YBS and Monzo all appearing amongst other brands with the same thing in common... They do great things for their customers, deliver great experiences and outcomes and let those experiences and outcomes do the talking for them. It sounds bloody obvious doesn't it but when you marketing is the truth then great things happen.