The Loyalty Effect
U.S. consumers hold 3.3 billion memberships in customer loyalty programs. Whether you are a leading financial institution, a small retail shop or a global company, there is one common key to ensuring the overall success of your business: consumer loyalty. The “loyalty effect” is a powerful profit generator because loyal consumers tend to spend more, refer others and cost less to serve. Let’s take a look at the stats: 59% of shoppers stated they would be encouraged to shop more with a brand if it had a loyalty, and 67% of consumers modify the brands/companies they purchase from in order to maximize points.
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Date & Time: Wednesday, June 14 – 1:00 PM (ET) to 2:00 PM (ET)
Guest: Bob Legters, SVP & Chief Product Officer, Global Retail Payments at FIS
About: As regulatory pressures and new payments technologies challenge relationships between financial institutions and merchants, it’s important to find ways to collaborate on emerging payment types and create new partnerships to support them including point of sales integrations, mobile wallets and redemption options.
Throughout this digital discussion, we will explore how solutions, such as FIS’s Premium Payback, create a win-win for consumers, financial institutions, and retailers. These solutions can do this by offering consumers an opportunity to convert points into currency, reduces loyalty program costs for financial institutions and provides retailers an opportunity to engage new consumers, all in real-time.
Guest: Bob Legters, SVP & Chief Product Officer, Global Retail Payments