Promotions and customer experience are crossing new frontiers! The latest is Horizon Blue Cross Blue Shield of New Jersey launching a loyalty program that rewards people if they exercise regularly. Preventative healthcare is big today, especially as insurers find new and innovative ways to reduce redemptions, and then hopefully, our premiums. Initiatives such as these on connected […]
Connected customer experiences – Now HorizonbFit! Read More »
All of us have bank accounts and credit cards. And banks are always sending us offers and asking us to switch. What makes us stick to what we have? After all, as customers, we are looking for value, convenience and belonging. Take this poll to see what others are thinking: Results are available immediately Be
Our banking habits – Why we bank where we do? Read More »
How do we think of loyalty beyond the well known (and always on) promotions and discounts? Every business needs loyal customers – customers who come back time after again because they had a great experience, found great deals, just liked what they see or any other reason. Loyalty is about several strategic issues. In today’s
Benchmarking your loyalty program Read More »
With better store experiences, price match guarantees, ship-from-store innovations and using the concept of “stores in store”, the impact of show-rooming appears to have been stemmed towards the latter half of 2013. News about Best Buy having some success this past holiday season is all around us. The keyword in the opening paragraph is
The end of show-rooming, or the beginnings of the ecosystem war Read More »
After a decade of waiting for shipping, the same-day delivery model is exciting. However, it’s being largely played as a fulfillment mechanism. It’s also being considered as a model where retailers can potentially charge a premium for instant delivery – although I think that’ll not be feasible in the long term Uber, Google, eBay and Amazon are getting
Will same-day delivery change retail business models? Read More »
TD Bank recently announced TD Helps, an online community where specialists answer questions quickly. It’s a great initiative. And definitely a step in the right direction. The obvious incentives are better customer responsiveness, lower costs and of course marketing. However, in a world where more than 70% of customers prefer to self serve rather than
6 next steps for TD Bank (and others) after they go social Read More »
The Retail Design Institute’s 2014 “Store of the Year” award was presented to a concept for Umpqua bank! Some banking myths were definitely broken here. And I think that all our discussions about reinventing the branch should be seen in light of the next wave of innovation which is coming soon. 1. Get rid of the original definition When
Stop thinking of saving the bank branch. Redefine it. Read More »
Analytics is a must to succeed today. But as we think of and define business scenarios where we can get greater insights, I am surprised by the little thought that goes into systematically feeding it into the right operational (and technology) processes. It takes long. Far too long. And costs too much. And by the
Analytics – how not to fall under our own weight Read More »
Investments in Omni Channel banking have been focusing on traditional and commonly known media such as mobile, web, branches, paper, email and ATMs. These strategies have no doubt brought tremendous advances in customer experience, operating cost synergies and marketing effectiveness. However, with recent industry evolution, the definition of channels is changing. Previously largely ignored in
Omni Channel Banking – Measuring Customer Engagement Read More »
One of the prerequisites to creating a successful customer partnership is to manage and eliminate the need for external reinforcement. This helps both you and your customers to take positive actions. Two key drivers of attrition for products and services are: Incorrect fit Insufficient education An incorrect fit arises from acquiring a customer who is
Working with customers on mutually value adding behaviors Read More »
