Today’s podcast episode of The Banking & Payments Show examines if the financial services sector should leverage social media influencers. In ‘Story by Numbers,’ we discuss how the majority of users have seen someone reviewing or recommending financial products on social platforms and what this means. In ‘For Argument’s Sake,’ we argue nicely about whether the risks of using finfluencers outweigh the rewards. Listen to the conversation as host, Rob Rubin, welcomes analysts Jasmine Enberg and Lauren Ashcraft to the podcast.
Audio
| Jul 15, 2024
To keep loyalty members engaged, brands must focus on what customers want, offer smart rewards, and keep tweaking their programs. For example, Victoria’s Secret built a special community in its app, while Vitamin Shoppe added multiple tiers and benefits after careful planning.
Article
| Jun 17, 2024
Consumers' definition of value is evolving as they demand not just the lowest prices, but quality and convenience too.
Gen Z beauty shoppers prioritize innovation and sustainability over price, grocery shoppers seek high-quality products at lower prices, and high fees deter online purchases. Loyalty programs should be tailored to offer consumers the kind of rewards they want most, but not at the expense of brand identity.
Here are five key stats to help brands understand what consumers value and stay competitive.
Article
| Jun 6, 2024
Article
| May 21, 2024
Explore the benefits of B2B loyalty programs that generate 32% more long-term clients. Find out how personalized rewards and strategic value can strengthen your customer relationships and drive repeat business.
Article
| May 20, 2024
Article
| May 10, 2024
The payments industry has used its marketing budgets to reap the rewards of a strong market for credit card acquisitions. But marketers will need to embrace doing more with less as credit conditions tighten and savings run dry.
Report
| Dec 5, 2023
The No. 1 issue US adults have with loyalty or reward programs is it takes too long to earn rewards, according to an October 2023 survey from Merkle.
Article
| Apr 9, 2024
Discounts are the leading reason consumers currently participate in a loyalty or reward program, cited by 48% of US adults, according to October 2023 data from Merkle.
Article
| Apr 15, 2024
This can make it a more attractive network for issuers to partner with, given credit card rewards can make or break customer retention
Article
| Apr 8, 2024
Getting cash back is the leading motivator for opening a new credit card, according to 42% of adults worldwide, per January 2024 data from Kantar.
Article
| Mar 26, 2024
Over half (55%) of adults worldwide say that offering points or reward systems are the top way to keep them coming back, according to a November 2023 survey from Marigold in conjunction with Econsultancy.
Article
| Feb 14, 2024
An extended returns policy is the No. 1 experience-based reward that US adults would be most interested in receiving from brands, per Ebbo’s October 2023 survey.
Article
| Feb 8, 2024
The annual charges increased across all six cards, but Amex is hoping the enhanced rewards will offset the added consumer costs
Article
| Feb 5, 2024
Chart
| Feb 14, 2024
Source: Merkle
Chart
| Feb 14, 2024
Source: Merkle
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| Feb 7, 2024
Source: Marigold; Econsultancy
Chart
| Feb 7, 2024
Source: Marigold; Econsultancy
Chart
| Jan 26, 2024
Source: Ebbo
And while rewards are one of consumers’ top motivations for opening new credit cards, only half of subprime credit cards offered them in 2022, per the Consumer Financial Protection Bureau. Prediction. A major issuer will pilot a subscription-based rewards credit card by the close of 2024.
Report
| Jul 2, 2024
The time it takes to earn a reward is the top stumbling block. Taking too long to earn a reward was the top concern among respondents in Merkle’s loyalty survey, followed by difficulty, lack of value in rewards, and too many communications. These are likely top factors contributing to why consumers are active in only half of the programs they belong to.
Report
| May 15, 2024
On today’s podcast episode, we talk about our latest report that looks at new features being offered by the top cash-back credit cards and how much consumers value them.
• In our “Headlines” segment, we break down a recent CNBC article about some of the limited-time merchant rewards the major credit cards are offering.
• In “Story by Numbers,” we discuss the Insider Intelligence emerging features benchmark that identified 49 novel qualities and carefully reviewed the feature sets of 10 popular no-fee cash-back credit cards. We also talk about free security features that customers value the most.
• In “For Argument’s Sake,” our host Rob Rubin has a difficult time staying true to his position (Credit card features are so tempting!) as he debates why consumers feel certain credit card features are valuable and that they would forgo most of them for more rewards.
Listen to the podcast with Rob Rubin and our analyst David Morris.
Audio
| Dec 12, 2023
Overall, consumers want instant savings and tangible financial rewards they can easily accumulate and redeem across physical and digital channels. But Gen Zers are less obsessed with transactional rewards than older shoppers, and they are more motivated by experiential rewards and a sense of community.
Report
| Jul 17, 2024
Many CMNs are built on top of existing rewards programs and have built-in reward functionalities alongside advertising. Retailers were the first to reach scale with CMNs, making retail the most mature vertical within the space. RMNs have achieved enormous growth and revenues: Amazon alone will capture 77.0% of US retail media ad revenues, per our forecast.
Report
| Jul 10, 2024
Chart
| Jan 16, 2024
Source: Econsultancy; Marigold