Who doesn’t love an arsenal of information at their fingertips? Over the years, Connexions Loyalty has generated a plethora of information – everything from understanding consumers’ preferences to helping brands combat the growing threat of loyalty fraud.
We all make mistakes, and while most people believe that everyone deserves a second chance, brands often find that a single foul-up can result in the loss of a customer. So how can your organization fight that response? In our latest survey, we set out to answer that question, and, in particular, the role compensation plays in customer recovery.
One trillion dollars. Well, $1.6 trillion to be exact. That’s the estimated loss from customers switching to another company due to poor service, according to research from Accenture. Keeping customers happy -- and loyal! – isn’t just the right thing to do, it’s essential in protecting your bottom line.
An international travel industry leader serving 180 million customers annually in more than 300 locations, the company’s annual revenues top $40 billion, making it the largest player in the industry by both asset value and market capitalization.
Customer service agents – from operations managers to call center supervisors – all want to provide efficient, quick mitigation after a poor experience. Cross-departmental teams seek to hit service metrics around customer complaints and achieve industry service rankings in hopes of retaining their most loyal customers. But what if your organization’s mitigation efforts aren’t actually working to achieve those scores or retain loyal customers? Despite the fact that your efforts are standard practice in your business or industry, it’s possible that your customers may not agree that you are, in fact, effectively mitigating their problems.
Making headlines is one thing. Making headlines because of a massive data breach is another. It’s a scenario real enough to keep any program manager awake at night. With major national data breaches seemingly in the news every day, we’ve pulled together five ways loyalty program managers can keep their customers satisfied within their own service recovery process if (and when) a data breach occurs.
Mistakes happen in life and in business. Regardless of top-notch products, systems and procedures, training and good intentions, poor customer experiences are inevitable. While businesses can’t always undo or fix that bad experience, they can do their best to not only apologize but mitigate the situation through a customer recovery effort.
If you’ve heard about recent national data breaches, you may be wondering, what does this mean for my financial assets, and how does this impact me? As loyalty fraud experts who have been in the business of helping our clients protect their most loyal customers from fraudulent activity for 10 years, we know a thing or two about how impactful large breaches can be, and what needs to be done when a breach occurs. In this post we’ll share with you our best tips on what you should do to protect yourself and your customers from loyalty fraud after such breaches.
Our loyalty fraud team partnered with Dark Web expert and Director of Security Research Jason B. Lancaster at SpyCloud to take a deeper dive into the Dark Web. As part of our loyalty fraud prevention series, this blog post will discuss the going rate for rewards accounts bought and sold on the Dark Web and specific steps loyalty program managers should take to protect members against loyalty fraud.
Our loyalty fraud team recently partnered with Dark Web expert and Director of Security Research Jason B. Lancaster at SpyCloud to take a deeper dive into the Dark Web. As part of our loyalty fraud prevention series, this blog post will cover: the Dark Web Market, how fraudsters are selling rewards points and miles on the Dark Web, and what happens to member data after a breach has occurred.