It’s no secret that fraud is prevalent on the internet, from phishing scams to loyalty account takeovers. But what happens after a fraudulent loyalty account takeover? To start, hackers often take to the Dark Web, the often seedy underbelly of the internet where they can auction off stolen loyalty account logins, points and miles, even merchandise that they’ve fraudulently redeemed.
How much could a single instance of rewards program fraud cost your brand? The hard costs (replacing stolen points and miles) may be clear, but the hidden costs (negative word of mouth, lost customers) may be harder to calculate.
A Fortune 500 community bank nearing its 150-year anniversary has hundreds of billions of dollars in assets and operates thousands of financial centers across several states.
Rewards and frequent flier programs carry massive monetary value for airlines. A strong travel rewards program increases customer loyalty while generating revenue. But, if your rewards member base isn’t growing or points and miles aren’t being spent, it may be time to look for a new provider.
The right rewards mix encourages both customer engagement and point spend. But increasing loyalty rewards redemption requires a targeted customer segmentation strategy, often going beyond just typical travel rewards offerings.
What if a specific type of reward could create the ultimate travel experience, one that’s exciting, memorable, something your customers have never experienced before? Would you consider it a nice-to-have or need-to-have?
Today’s traveler is faced with a wealth of options when it comes to planning a trip. Never before have there been so many choices for everything from booking travel to where to eat, stay, go—and even how to get there. As a consequence, travel brands also have never faced more competition.
In our final episode of the Art of Loyalty series, we show you how it all comes together. If you’re new to the series you can catch up on episodes one through four here. In this video we reveal the final painting and hear Breann and our Connexions team reflect on their experience with the project.