Have We Reached a Tipping Point with Technology? 

Posted by Bond Brand Loyalty

Apr 4, 2018 11:57:00 AM

Technology is rapidly changing customer expectations and the way they engage with your Brand. 

The Loyalty Report 2018 finds that Members have moved from technology skeptics to champions as 95% of members want to engage with their Program through new and emerging technologies.

From our recent 2018 Executive Launch event, Sean Claessen shares his thoughts on how Loyalty technology has reached a tipping point.

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Topics: Loyalty Report

[Guest Blog] 4 Customer Engagement Truths for Loyalty Marketers

Posted by Bond Brand Loyalty

Nov 29, 2017 2:27:46 PM

Weclome to a guest blog by Andrew Dorn, Director of Marketing Channels at RedPoint Global, a proud partner of Bond Brand Loyalty.

Loyalty programs have become extremely popular in recent years, and for good reason. Providing rewards to repeat customers is a good way to get them to keep coming back. But that’s not the whole story. To truly engage consumers and keep them loyal to your brand, you need a comprehensive strategy that centers around understanding customer behaviors, preferences, and interaction histories. Only once you have built and implemented this customer engagement strategy you can be confident of driving greater retention and loyalty over time.

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Topics: Brand Loyalty, Customer Experience, customer engagement

The Evolution of Loyalty: Loblaw PC Optimum and its Implications

Posted by Richard Schenker

Nov 15, 2017 2:27:22 PM

Back in 1997 when I began to lead a loyalty project for Shoppers Drug Mart with the code name “ASA” (an acronym for Acetylsalicylic acid), little did I know that 20 years later we would be witnessing the evolution of Canada’s favorite and most successful loyalty program. This past week’s announcement of the merger of these two iconic loyalty programs makes great business sense for the brands and their customers. The Shoppers Optimum program was originally tested in Kingston, Halifax and Calgary over a 16-month period. Towards the end of the pilot in 1999, approval was granted to launch the Shoppers Optimum Program nationally.

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Topics: Loyalty Program, Loyalty Marketing, Loyalty points, Loyalty Strategy

10 Common Pitfalls of Loyalty Program Design

Posted by Richard Schenker

Oct 11, 2017 12:22:21 PM

Loyalty Programs are critical to fostering effective Customer Engagement strategies for brands. They enable Customer acquisition, onboarding, engagement, retention, and even win back a brand’s Customers. Many strategic brand marketers have made their Loyalty Programs a key business imperative and have invested significant financial and human capital against this important endeavor. We often see many Loyalty Programs underperform or even fail because of poor Program design and planning. When designing or renovating your Loyalty Program, marketers should avoid:

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Topics: Loyalty Program, Loyalty Marketing, Loyalty Strategy

Do you have the right ingredients for Customer Experience (CX) success?

Posted by Morana Bakula

Oct 3, 2017 11:44:34 AM

A customer obsessed culture is the core ingredient to CX success – but cultural change can be a daunting and difficult journey. You know you’re on the right cutstomer centric path when your organization has developed:

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Topics: Customer Experience

Is Your Loyalty Program Worth It? 5 ways to ensure your Program makes the cut

Posted by Bond Brand Loyalty

Aug 31, 2017 9:04:32 AM

Now in its seventh year, the Loyalty Report 2017 reveals that consumers have reached their Program engagement threshold despite an upward trend in new Program memberships. Our research finds that new program enrollment has grown by 31% in the past four years to 14.3 Programs per member; yet, only 6.7 Programs are active. This means that if your Program is not engaging or properly rewarding Members for their devotion, your Program is at risk and needs work.
 
A poor experience can significantly affect Member satisfaction, which can have a direct impact on spend, choice, advocacy, and retention, so it’s critical that you do everything possible to be among the active 6.7 Programs. Here are five ways to ensure your Program makes the cut.

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Topics: Loyalty Program, Customer Experience, Retail, Loyalty Report, Loyalty Marketing, mobile

Why Luxury Brands Need To Focus On The Human Customer Experience

Posted by Morana Bakula

Apr 4, 2017 10:26:46 AM

Yes, brands are dazzling customers with virtual and augmented reality, interactive screens and AI-powered everything, yet this provides an opportunity for brands to differentiate through the emotional value customers gain from their entire purchase experience.

It means brands need to get better at being emotional. Customers want “emotional luxury” derived from feeling recognized, special, and known; yet, only 20% of consumers say they feel special and recognized by a brand representative. This is a massive, untapped opportunity for brands to better engage with consumers.

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Topics: Loyalty Program, Customer Experience, Loyalty Report, Training and Learning, Retail Luxury, CX

Points Liability Management—Lowering The Tension Between Your CFO & CMO

Posted by Richard Schenker

Mar 14, 2017 4:42:44 PM

Almost all currency-based consumer loyalty Program designs inherently house a financial liability, which in many cases has a material impact on a brand’s balance sheet. Generally speaking, a brand incurs liability for a future loyalty Program reward as soon as it issues the Program’s currency (e.g., points, miles, credits, stars, etc.) to a Program Member. From an income statement perspective, there is a reduction in revenue as soon as the currency is issued to a Program Member. As such, the brand cannot account for the full sale, since a percentage will need to be remunerated in the form of a reward (or dividend) back to the Program Member upon redemption. The accounting principles which govern financial liability management are not for the faint of heart, and they more than often create an ongoing level of tension between a brand’s CFO and CMO. CFOs wish to minimize their currency liability and resulting financial exposure, while CMOs wish to issue currency to incent incremental transactional behaviors with the aspiration of maximizing Member redemptions. 

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Topics: Loyalty Program, Loyalty Report, Loyalty points, Rewards, Loyalty Strategy

How to Sustain Loyalty Through Your Mobile Engagement Strategy

Posted by Michelle Sequeira Yee

Feb 1, 2017 3:45:13 PM

In today’s mobile-driven marketplace, and with the rise of the Millennial “always on” consumer, having an app complement a retailer’s marketing strategy has become table stakes. Apps have evolved from simply being an extension of the digital ecosystem to leading the way for brand innovation, campaign awareness, and deeper loyalty engagement.

Never before has a brand had the opportunity to be part of such a personal customer connection—your customers’ mobile device is more than just a communication channel; it’s their hub to connect to all things, all people, and interact with your brand in more personal ways than ever before. The challenge this brings is for retailers to truly understand how users want to connect with their brand, and to develop features that enable those interactions in innovative, creative, relevant, and simple ways. The opportunity is to retain top-of-mind awareness for your brand, create habit-forming engagements, and obtain a higher reach of brand advocacy, especially when a formal loyalty program exists for your brand. Surprisingly, Bond Brand Loyalty’s 2016 Loyalty Report shows that almost 50% of consumers aren’t even aware if the loyalty program they engage with has an app, which is a lost opportunity for many retailers.

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Topics: Loyalty Program, Digital Loyalty, Loyalty Report, Mobile Loyalty

A Fraudster’s Ticket into Loyalty: Travel Program Operators Beware

Posted by Carlo Pirillo

Sep 28, 2016 10:38:55 AM

Over the past 15 years, loyalty programs have enjoyed a relatively low level of fraudulent activities. However, in recent months we have seen the level of loyalty program and loyalty card fraud increase. As “Chip & Pin” credit cards continue to become prevalent, specific industries whose business models include transactions where the physical card does not need to be present, have become the target of fraudsters. One of these in particular is the travel booking industry.

Lately, fraudulent activities have propagated to loyalty programs where the travel components of the program are the primary target. However, as there often is with fraud schemes, there’s a twist. The loyalty program is not the actual target of the fraud, but rather a means to facilitate the scheme.

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Topics: Loyalty Program, Digital Loyalty, Loyalty Report