Charles Ehredt, CEO of Currency Alliance covering "Why would you issue another brand’s points?" in the latest Currency Alliance’s latest article - is that it’s often more effective at getting a larger percentage of customers to engage, compared to issuing only your own points or miles.
(Image Source)
Currency AllianceCharles Ehredt, CEO of Currency Alliance covering “Why would you issue another brand’s points?” in the latest Currency Alliance’s latest article – is that it’s often more effective at getting a larger percentage of customers to engage, compared to issuing only your own points or miles.
In the article, Charles discusses how brands can optimize their use of points as a loyalty tactic, covering:
- the concept of liquidity: making points easy to earn and spend while ensuring you can still influence customer behaviors – and also making loyalty currencies easier for brands to collaborate to drive engagement
- the pros and cons of issuing your own loyalty currency, weighed against giving customers greater choice and freedom in how they benefit – which increasingly is recognized as a foundational component of an effective loyalty strategy
- how to issue loyalty points – including how to launch your own loyalty currency, if that’s the right approach for your business.
Read on Currency Alliance website
Source: Currency Alliance
