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Posts by Adam Craig

06/05/2018

Half of Americans Are Confused About Credit Card Rewards

Do your customers have a handle on their credit card rewards? Is it about miles? Points? Cash back? A mixture of all three? Do they know how, exactly, they’re earning the rewards and how to redeem them? If you think they do, you might want to think again. A new survey by NextAdvisor found that roughly half…

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12/11/2017

Some Financial Institutions Still Don’t Have Mobile Apps: What They’re Missing

Shoe stores have mobile apps. So does the Smithsonian. You can find apps that help new parents keep track of diaper changes, apps that can help you find a clean restroom while traveling, and apps that let you schedule your dry cleaning for pickup and delivery. It’s the age of the mobile app, and it…

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08/15/2017

Nurturing Near-prime Customers to Evolve into Prime Ones

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 it’s 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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06/23/2017

The Role of Follow-Through in Loyalty-Building Onboarding

We love our jargon in the banking industry, and financial institutions today have managed to expand Eddie’s simple six-word formula for success into multiple layers of terminology, seasoned with plenty of technology. We talk about creating an ideal “customer journey,” “data-driven insights” to drive “segmentation” and “build brand loyalty,” as well as the importance of…

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03/17/2017

Mobile Emerges with the Most Power to Drive Loyalty

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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12/02/2016

Tweaking Your Way to Loyalty Program Success

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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09/16/2016

Segmentation Lessons from an Ancient Roman Fruit Vendor

In your eagerness to stay on the leading wave of the digital transformation, is your bank sacrificing power for speed? Big data has the potential to help financial institutions create customer experiences that are meaningful, relevant and engaging on an individual level. But if you homogenize your use of digital channels and treat all your…

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