1) Loyalty programs have evolved from simple merchandise and coupon-based programs to complex frequent flyer mile programs run by airlines and banks.
2) Frequent flyer miles proved highly successful at rewarding desired customer behavior and driving long-term loyalty because they offered an aspirational travel reward.
3) Over time, generic points programs emerged that offered unrestricted airline rewards through a single network, rather than individual airline programs, appealing to customers through increased reward attainability.
Loyalty Programs are going mobile. This presentation lays out some of the reasons why we're seeing a shift in Loyalty to mobile, and the best way businesses can take advantage of it.
Loyalty Programs are going mobile. This presentation lays out some of the reasons why we're seeing a shift in Loyalty to mobile, and the best way businesses can take advantage of it.
Gamification Benefits to Rewards/Loyalty Programstalktalk
Rewards/loyalty programs are proven to rapidly gain and significantly retain customers, increase faster repeat revenues and accelerate customer engagement.
Gamification adds to the concept of user engagement process and offers new dimension to both customers and staff. Here's #10 - 10 – Future trends in gamification changes the paradigm of customer engagement farther and faster than other means – game theory and artificial intelligence techniques will drive future customer engagement programs. Simulations of all kinds will be used internally to motivate staff and customers alike. Designing of games will evolve as part of nearly all business operations making the job of the job more efficient , effectively and certainly more fun.
How to Improve Your Loyalty Program
Refresh yourself on new trends and why loyalty programs are important. Whether you’re just starting out with a customer loyalty initiative or you recognize that the one you already have needs reworked, this presentation will provide valuable insight into where your next steps should be.
Who is Customer Insight Group, Inc.?
Customer Insight Group is a leader in building brand loyalty for the world’s most influential and valuable brands. We help companies engage, keep and grow more profitable customer relationships. We leverage customer insight to deliver the right message to the right customer via the right channel at the right time. The bottom line is we focus your marketing dollars to get the biggest bang for your buck. The result? Long-term customer relationships and maximized margins.
More Resources:
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
Loyalty eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Loyalty Program Audit: http://www.customerinsightgroup.com/don%E2%80%99t-enter-battle-customer-loyalty-unarmed-audit-your-loyalty-marketing-strategies
Everyone has a creative potential! Yes that's right. We all have the innate capacity for creative activity. ZaVue Solutions deals with providing novel business ideas and an opportunity to do online writing to earn a good amount in your lives.
Website: http://zavuesolutions.com/
Like and share our Facebook page to get updates;
https://www.facebook.com/zavuesolutions/
How to launch a customer loyalty program that boosts your bottom lineDarren DeMatas, MBA
Shoppers love customer loyalty programs, but most ecommerce sites get it wrong. Learn how to launch a profitable rewards program that boosts your bottom line.
You'll understand why customer loyalty programs matter, how they contribute to long term profitability and how to launch an effective program
Loyalty programs are an important marketing lever in their own right, and can accelerate the value from other channels as well. While loyal customers have always driven the bulk of revenue (and profits), trends are creating a mandate for more sophisticated loyalty marketing. Loyalty marketing capabilities and delivery mechanisms continue to evolve as a result, getting more rich but also more complex to manage. Are you asking the right questions about your loyalty program?
Implementing Customer Loyalty Program PowerPoint Presentation SlidesSlideTeam
Presenting this set of slides with name - Implementing Customer Loyalty Program Powerpoint Presentation Slides. Enhance your audiences knowledge with this well researched complete deck. Showcase all the important features of the deck with perfect visuals. This deck comprises of total of twenty four slides with each slide explained in detail. Each template comprises of professional diagrams and layouts. Our professional PowerPoint experts have also included icons, graphs and charts for your convenience. All you have to do is DOWNLOAD the deck. Make changes as per the requirement. Yes, these PPT slides are completely customizable. Edit the colour, text and font size. Add or delete the content from the slide. And leave your audience awestruck with the professionally designed Implementing Customer Loyalty Program Powerpoint Presentation Slides complete deck.
How to Build a Killer Customer Loyalty Program for Your Business Kabbage
The concept of a customer loyalty program is simple – your customers are rewarded for repeating their business, and your revenue as a business increases from their support. Most big brands from Starbucks to Safeway, Walgreens and Best Buy feature customer loyalty programs. But customer loyalty isn’t just for big business – it’s a key strategy for small business owners to scale revenue and build lasting relationships with the people who matter most – loyal fans of your business and product. In this webinar, we’ll go over everything you need to know to build a killer customer loyalty program, including:
- How to define customer loyalty and why it's important
- How to do customer loyalty right: the dos and don'ts
- Using data and mobile to drive loyalty
- Importance of branding and fraud prevention
- Loyalty apps and tools to use
- How customer loyalty can be used in each business industry/vertical
Impact of loyalty programs in retailing business in India for creating long t...Love Suryavanshi
Impact of loyalty programs in retailing business in India for creating long term relationships. Various topic on sutomer loyalty and loyalty program has been covered.
Snipp Webinar With Loyalty360 - The State of Loyalty in 2017Snipp Interactive
Loyalty in the US is at a tipping point. With the number of companies entering the marketplace and competing for consumer attention skyrocketing, capturing consumer loyalty is not an option - it is essential to the survival of brands. In fact, according to eMarketer, the majority of US marketers intend to allocate more of their budgets to customer loyalty in 2017, with many anticipating significant increases in spending on loyalty.
However, knowing how to spend your budget on loyalty is part in parcel to succeeding in the market place. Join Snipp and Loyalty360 as we examine the state of loyalty in 2017, bringing brands the information they need to ensure loyalty initiatives are focused, strategic, and ultimately, will win over consumers for the long term.
In this webinar, you will learn:
• Key trends for loyalty in 2017, such as the importance of “Lifestyle Loyalty”
• Best practices for setting up winning programs. Want to know how to incorporate the Internet of Things into your own loyalty program? We’ve got you covered!
• A specially developed model & framework developed by our industry leading loyalty consultants to keep you on track as you plan for and manage your loyalty initiatives
The (Ugly) Truth of the Loyalty Point Program: What Marketers Say VS What Cus...Digital Alchemy Limited
The loyalty point program is largely adopted by marketers and customers, but are you sure your customers see it the same way as you do? Come and find out how “what marketers say” could be different from “what customers hear” as well as the truth behind it!
Visit our website for more details and to subscribe to our eNewsletter
http://www.digitalalchemy.asia
Let’s connect…
http://www.facebook.com/DigitalAlchemyLimited
http://twitter.com/Digitl_Alchemy
http://www.youtube.com/user/DigitalAlchemyPtyLtd
http://www.linkedin.com/company/digital-alchemy
http://plus.google.com/109695231036450612270/posts
http://instagram.com/Digitl_Alchemy
Don’t forget to follow our SlideShare channel for more content in the world of database marketing!
Gamification Benefits to Rewards/Loyalty Programstalktalk
Rewards/loyalty programs are proven to rapidly gain and significantly retain customers, increase faster repeat revenues and accelerate customer engagement.
Gamification adds to the concept of user engagement process and offers new dimension to both customers and staff. Here's #10 - 10 – Future trends in gamification changes the paradigm of customer engagement farther and faster than other means – game theory and artificial intelligence techniques will drive future customer engagement programs. Simulations of all kinds will be used internally to motivate staff and customers alike. Designing of games will evolve as part of nearly all business operations making the job of the job more efficient , effectively and certainly more fun.
How to Improve Your Loyalty Program
Refresh yourself on new trends and why loyalty programs are important. Whether you’re just starting out with a customer loyalty initiative or you recognize that the one you already have needs reworked, this presentation will provide valuable insight into where your next steps should be.
Who is Customer Insight Group, Inc.?
Customer Insight Group is a leader in building brand loyalty for the world’s most influential and valuable brands. We help companies engage, keep and grow more profitable customer relationships. We leverage customer insight to deliver the right message to the right customer via the right channel at the right time. The bottom line is we focus your marketing dollars to get the biggest bang for your buck. The result? Long-term customer relationships and maximized margins.
More Resources:
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
Loyalty eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Loyalty Program Audit: http://www.customerinsightgroup.com/don%E2%80%99t-enter-battle-customer-loyalty-unarmed-audit-your-loyalty-marketing-strategies
Everyone has a creative potential! Yes that's right. We all have the innate capacity for creative activity. ZaVue Solutions deals with providing novel business ideas and an opportunity to do online writing to earn a good amount in your lives.
Website: http://zavuesolutions.com/
Like and share our Facebook page to get updates;
https://www.facebook.com/zavuesolutions/
How to launch a customer loyalty program that boosts your bottom lineDarren DeMatas, MBA
Shoppers love customer loyalty programs, but most ecommerce sites get it wrong. Learn how to launch a profitable rewards program that boosts your bottom line.
You'll understand why customer loyalty programs matter, how they contribute to long term profitability and how to launch an effective program
Loyalty programs are an important marketing lever in their own right, and can accelerate the value from other channels as well. While loyal customers have always driven the bulk of revenue (and profits), trends are creating a mandate for more sophisticated loyalty marketing. Loyalty marketing capabilities and delivery mechanisms continue to evolve as a result, getting more rich but also more complex to manage. Are you asking the right questions about your loyalty program?
Implementing Customer Loyalty Program PowerPoint Presentation SlidesSlideTeam
Presenting this set of slides with name - Implementing Customer Loyalty Program Powerpoint Presentation Slides. Enhance your audiences knowledge with this well researched complete deck. Showcase all the important features of the deck with perfect visuals. This deck comprises of total of twenty four slides with each slide explained in detail. Each template comprises of professional diagrams and layouts. Our professional PowerPoint experts have also included icons, graphs and charts for your convenience. All you have to do is DOWNLOAD the deck. Make changes as per the requirement. Yes, these PPT slides are completely customizable. Edit the colour, text and font size. Add or delete the content from the slide. And leave your audience awestruck with the professionally designed Implementing Customer Loyalty Program Powerpoint Presentation Slides complete deck.
How to Build a Killer Customer Loyalty Program for Your Business Kabbage
The concept of a customer loyalty program is simple – your customers are rewarded for repeating their business, and your revenue as a business increases from their support. Most big brands from Starbucks to Safeway, Walgreens and Best Buy feature customer loyalty programs. But customer loyalty isn’t just for big business – it’s a key strategy for small business owners to scale revenue and build lasting relationships with the people who matter most – loyal fans of your business and product. In this webinar, we’ll go over everything you need to know to build a killer customer loyalty program, including:
- How to define customer loyalty and why it's important
- How to do customer loyalty right: the dos and don'ts
- Using data and mobile to drive loyalty
- Importance of branding and fraud prevention
- Loyalty apps and tools to use
- How customer loyalty can be used in each business industry/vertical
Impact of loyalty programs in retailing business in India for creating long t...Love Suryavanshi
Impact of loyalty programs in retailing business in India for creating long term relationships. Various topic on sutomer loyalty and loyalty program has been covered.
Snipp Webinar With Loyalty360 - The State of Loyalty in 2017Snipp Interactive
Loyalty in the US is at a tipping point. With the number of companies entering the marketplace and competing for consumer attention skyrocketing, capturing consumer loyalty is not an option - it is essential to the survival of brands. In fact, according to eMarketer, the majority of US marketers intend to allocate more of their budgets to customer loyalty in 2017, with many anticipating significant increases in spending on loyalty.
However, knowing how to spend your budget on loyalty is part in parcel to succeeding in the market place. Join Snipp and Loyalty360 as we examine the state of loyalty in 2017, bringing brands the information they need to ensure loyalty initiatives are focused, strategic, and ultimately, will win over consumers for the long term.
In this webinar, you will learn:
• Key trends for loyalty in 2017, such as the importance of “Lifestyle Loyalty”
• Best practices for setting up winning programs. Want to know how to incorporate the Internet of Things into your own loyalty program? We’ve got you covered!
• A specially developed model & framework developed by our industry leading loyalty consultants to keep you on track as you plan for and manage your loyalty initiatives
The (Ugly) Truth of the Loyalty Point Program: What Marketers Say VS What Cus...Digital Alchemy Limited
The loyalty point program is largely adopted by marketers and customers, but are you sure your customers see it the same way as you do? Come and find out how “what marketers say” could be different from “what customers hear” as well as the truth behind it!
Visit our website for more details and to subscribe to our eNewsletter
http://www.digitalalchemy.asia
Let’s connect…
http://www.facebook.com/DigitalAlchemyLimited
http://twitter.com/Digitl_Alchemy
http://www.youtube.com/user/DigitalAlchemyPtyLtd
http://www.linkedin.com/company/digital-alchemy
http://plus.google.com/109695231036450612270/posts
http://instagram.com/Digitl_Alchemy
Don’t forget to follow our SlideShare channel for more content in the world of database marketing!
Member retention costs are soaring for most associations and building member loyalty within each generation is a key goal of any association; but do you really understand how loyalty works? This session takes a fascinating look into the science of loyalty and what it means for associations struggling to add and retain members. Using the latest neuroscience research, you’ll understand how the brain processes information, which will help you develop programs for and communicate to four generations of members in ways that better ensure loyalty.
An article that was placed in the company newsletter reviewing the efforts to develop and grow the electronics and semiconductor business at Air Products.
Associations often tout discounted products and services as a primary membership benefit, but how effective are discounts in retaining or engaging members? There is indeed a better way to create lasting value for members—by rewarding them! Based on the neuroscience behind member loyalty, learn how rewards programs can help better deliver your association’s messages, increase engagement, and strengthen member loyalty.
Ohri Presentation at RINFRA-D's MYT Petition on 6th April 2013Sandeep Ohri
This is the presentation I made as an Authorised Consumer Representative at MERC's Public Hearing in the matter of RINFRA-D's 2nd Multi Year Tariff Petition - on 6th April 2013
Over view of the value of job order contracting programs for facilities and construction in public funded building efforts. Written by Kristin Atwater for Government Procurement Journal and reprinted in the Washington Building Congress newsletter Bulletin - David Carrithers helped get the article placed and also the supporting pictures (was the cover story on July/Aug 2006
ICEW 2013 Amanda Cromhout - Big Data: the key to making customer-centric cha...TheFocusGroup
Regardless of the type of organisation, you need to mine your data to provide a truly customer-centric offering. Your data should be at the heart of your product strategy. Amanda encourages organisations to explore under the tip of the iceberg, diving deep into the data you hold on them to maximise your sales and profits.
Are you a manufacturer or a distributor? Are you struggling to keep customers loyal? Do you want to attract #customerloyalty. Our incentive and or reward ideas are custom built to help you to grow your company.
Travel, merchandise, points, recognition all designed to help you grow
In today's time when we are surrounded by so much of competition and a hussel to win. It is very important to also understand the process to retain what we have achieved as it could lead us to new opportunities and growth statistics. Building customer loyalty is one of those major steps one should learn. This Presentation would lead to knowing what customer loyalty is all about and how it helps an organisation to grow.
Customer Loyalty Part 3 - Customer Experience (CX)Gail Carson
Be realistic about how you define your CX success range – the range where your products and services comfortably add value to meet your prospects’ and clients’ needs and expectations. Create a great CX strategy that works in concert with brand equity programs, and you’ll build the loyalty you need.
Using Transparency as a Competitive Advantage - Winning Strategies for Today’...Jim Radogna
Auto dealers are constantly looking for ways to get an edge in the digital age, yet many continue to follow the same sales and advertising practices that they’ve been using for decades. Let’s face it, consumers have access to much more information, and choices, than ever before. In the past the dealer controlled all of the information, but today it’s just the opposite. Any information you offer is now carefully scrutinized and validated by a vast amount of online data. As a result, the likelihood of old-school sales practices backfiring has increased substantially. In this dynamic session, I’ll be discussing ways to break down deep-rooted stereotypes and embrace the transparency that consumers have been begging for. A transparent business model can greatly enhance your sales, reputation, customer retention, and bottom line. You’ll find that customers will actually be willing to spend more when they feel they’re buying from a business they can trust.
Loyalty is more than just a program it is becoming a vehicle for brand philosophy. The new breed of successful loyalty programs go beyond perks to build impactful emotional connections with customers. Unparalleled customer loyalty begins and ends with the quality of your relationships with customers.
The Ultimate Guide to Customer Loyalty in 2017Margaret Link
For brick-and-mortar businesses, building true customer loyalty is both an art and a science. At Thanx, we're bringing you the stats, tools, and takeaways to help you capture data that grows business through customer loyalty.
Innovation: Earning More Rewards on Every PurchaseAlexander Cohen
My presentation for the co-brand credit card conference in Atlanta, May 2017. Had the opportunity to talk to a great group of people about engagement with loyalty programs and how to stay competitive in a changing reward landscape.
Deck on the Impact on Customer Loyalty of the challenging economic, regulatory and technology environments 2009 – 2010. Publically available data were reviewed and extrapolations were made where necessary.
This PowerPoint examines the corporate structure of Target in a strategic manor. See how it compares to its competitors and why it is one of the leading retailers in today's society.
At the yearly conference, held in Phoenix AZ this year, David Carrithers received the Emeritus Member Chairman’s Award from the Center For Job Order Contracting Excellence for his 16+ years of support to the industry and CJE. Job order contracting is a contracting form for public funded renovation and construction originated with the Department of Defense in the 1980’s.
“It was a great honor to receive this award from the Industry Chair Mike Bevis, CJP and the board of this important industry association it means a great deal to me. Over the years I have meet and worked alongside so many amazing members and leaders at CJE. It is always up lifting to not just work with others in the A/E/C/ Facilities (Architecture/ Engineering/ Construction) industry but grow to call these hardworking people friends.” says Carrithers.
► Engaging Operations and Strategy Executive possessing a winning blend of business expertise, skill in operations management, and practical experience. Experienced in driving revenue growth and brand visibility in challenging markets.
► Leverages a unique mix of strategic and analytical expertise, consistently exceeding performance and revenue goals by aligning the effort of strong teams with organizational objectives.
Targeting Realtors whose clients are foreign nationals purchasing property in the US and moving to the states, at the same time foreign Realtors representing US nationals overseas buying vacation property or retiring overseas.
Transformational Strategies Creating Team, Brand & Market Results!
My passion is in better business growth through better branding, marketing, sales and new development processes. I bring to life transformational strategies, aligned team efforts and create targeted growth. I have mastered building industry alliances, stronger relationships with clients and growing the top line business volume while improving the bottom-line profit margin.
High Definition Impressions (HDI) develops grassroots educational marketing strategies that help healthcare providers and manufacturers expand market share, while promoting patient loyalty and best practices branding. Our well planned and research-based programs are co-created with medical experts for medical experts.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Affordable Stationery Printing Services in Jaipur | Navpack n Print
Loyalty 101
1. Loyalty 101
1
The Set Up!
All Customers Are Not Created Equally
“It’s OK To Play Favorites”
2. Loyalty 101
2
The Set Up!
“If you want to change attitudes, start with
changing behavior.”
Walt Disney
“Attitude is the speaker of our present; It is
the prophet of our future.”
Winston Churchill
4. Loyalty 101
4
• over 127 million customers choose Walmart vs 68 million who
choose to watch the evening news each week
• 70% of purchase decisions are made in-store and 68 percent
of in-store purchase are “impulse buys”
• investment in Shopper Marketing is estimated to be
growing 21% annually; Canadian growth rate is even higher
• 86% of Canadians actively participate in a loyalty program vs.
52% in the US
• 5 loyalty cards in a Canadian wallet vs over 15 cards in the US
• 5650 advertising & marketing companies in Canada
Market updates
5. Loyalty 101
“Consumers seem to be moving
faster than the retail
industry itself. [They] are
less brand-connected, more
in control, and in all
things mobile “
Kiril Tatarinov, Microsoft Corporate
Vice President of Business Solutions,
Retails BIG Show NYC Jan 11,2011
“There’s clearly something
that’s resonating about the
fact that you can feed a
family in America just by
walking into McDonald’s or
help an injured animal by
the time you’ve ordered your
latte at Starbucks.”
Follow The Ad Money
Opportunities Benefits Features SuccessImpact Research
6. Loyalty 101
CMG Study 2009
Loyalty Program Impact On Buying:
Customers who join loyalty program
attached to a credit card will almost
immediately spend more on that card by
a multiple of 2 or 3 times what they
were spending on the same card before
they joined the associated loyalty
program.
The second and far more
significant behavior change occurs
when the customer makes their
first redemption for a reward. At
this point their spend on the card
increases again by a factor of 3 to
8 times their pre-loyalty program
spend.
Do Loyalty Programs Work?
Do Loyalty Programs Work?
7. Loyalty 101
Maritz Top of Wallet Study:
- 63 percent of current and
prospective debit and
credit card rewards
program participants said
they would choose a card
that allowed them to earn
more points by shopping
with a specific merchant
over other cards.
Dog Lover
SuccessImpact Research
8. Loyalty 101
• Point based program participants
outspend non-participants at an
average ratio of 2.5 to 1
• Number of purchasing transaction
increase by 53 percent
• Value of purchases will increase
by 51 percent
Loyalty Point
Program Research
Maritz Loyalty Research
Loyalty Point Program Research
9. Loyalty 101
• Rewards that matter
• Easy to redeem
• Choice in rewards
• Tracking & awareness
• Small to big rewards
Maritz Loyalty Marketing Almanac Study: Small businesses in loyalty programs
redeem points for larger valued rewards and rewards for things they need for their
businesses. In addition, business owners redeemed 35% of points for travel.
Key To Program Success
Key to Program Success
14. Loyalty 101
14
"The research shows clearly that the existence
of a loyalty card scheme is not associated
with a degree of loyalty in shopping
habits."
-Source: Customer Loyalty Today
If I’m In Your Pocket You Must Be Loyal
Just Because They Carry Your Card
Doesn’t Mean You’ve Captured Their
Heart
Challenged Myth
15. Loyalty 101
15
Keeping Customers Is Cheaper Then
Getting New Ones
Not If You Lose The Bad Ones And
Find More Of The Good Ones
Challenged Myth
17. Loyalty 101
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Loyalty Is…
Challenged Myth
Knowing Who Your Customers Are
Understanding Who The Best Are & Why
Building A Bond Beyond The Price Tag
Finding More Of The Same &
Growing What You Keep
18. Loyalty 101
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Loyalty Is…
Challenged Myth
Understanding How Your Best Customers Think
Capturing Their Hearts & Devotion
Rewarding Their Loyalty & Support
19. Loyalty 101
19
Long-Term vs. Short-Term
“Customers who glide into your arms for a
coupon or minimal discount are the same
customers who dance away with
someone else at the slightest
enticement.”
-The Loyalty Effect
20. Loyalty 101
20
Long-Term vs. Short-Term
Loyalty Drives Long Term Behavior
Discount-driven customers are not
loyal customers—they will move to a
competitor when attracted by lower
temporary pricing
Frequency program:
“I get this for buying that.”
Incentives/Promotional
Programs
Incentives/Miles
Programs
Frequent Flier Miles
Programs
Competitive Scale
Incentive Programs
short-term
customer acquisition
Loyalty Programs
customer retention
Better customers are less sensitive to
price and are more concerned with the
value proposition of the company
Loyalty program:
“I am given value for being a loyal
customer.”
Long term
24. Loyalty 101
24
History Of Loyalty
It Was How Small Business Did Business:
New the best customers
New the worst customers
Was able to offer more services to the best
Owner was involved in all aspects
As Things Changed :
Increased competition weakened the bonds
Increased complexity blurred the relationships
Increased organization size numbed the brain
25. Loyalty 101
25
History Of Loyalty
By The 1950’s:
Manufacturing Was King = Product Volume
230 Brands Of Refrigerators
Birth Of Mass Marketing
A Customer Is A Consumer
Businesses Lost Sight Of The Customer
By The Late 1970’s :
America Consumers Tired Of Bad Business
Rejection Of Poor Quality & Low Customer Service
No Longer Loyal To A Brand
26. Loyalty 101
26
History Of Loyalty
The Start Of Modern Loyalty Actions
Most Were Unsophisticated Offerings:
Merchandise & Coupon Based
S&H Greenstamps
Raleigh Cigarette Coupons
Mainly Consumer Frequency Programs
Market Conditions Created A Shift Towards
Longer Term Relationships
27. Loyalty 101
27
Birth Of Frequent Flier Miles
1981 Regulatory And Market Changes
Give Birth To FFP
28. Loyalty 101
28
History Of Frequent Flier Miles
1981 American Airlines Invents
Frequent Flyer Miles
Others Quickly Follow
Loyalty Becomes Impossible Without A Planned Program
29. Loyalty 101
29
FFPs: Network Expansion
Car Rentals
Hertz joins and subsequently drops, citing
the high costs. Later rejoins after
dramatically losing market share without a
FFP
Today Hertz belongs to 20 FFPs
Hotels
After in-house Frequent-Stay Programs,
hotels conclude that the greatest marketing
benefits still come from the FFPs
30. Loyalty 101
30
Insight
"We didn't want an FFP. But it came to my
attention that FFPs were siphoning business
travel away from us. We did it defensively, and I
think if we had not done that we would have been
terribly disadvantaged."
Herb Kelleher, President, Southwest Airlines
First 20 Years Of FFP 9.77 Trillion Miles Accumulated
- Source: InsideFlyer Magazine 2001
31. Loyalty 101
31
FFPs: Expansion Continues
Banks Team Up With Airlines
Activation
Spend Acquisition
SPEND
ACTIVATION
ACQUISITION
32. Loyalty 101
32
FFPs: Expansion Continues
Co-branded Cards Wildly Successful
Average spend up to 10x higher
Active account rate up to 80 percent or higher
Attrition and acquisition costs decline
33. Loyalty 101
33
FFP Membership Takes Off
Worldwide Frequent Flier Membership
Growth continues
From 150,000 members in 1981 to
200,000,000 members in 2001
Proven cardholder addiction to miles by the fact that
more miles earned via a card than by actually flying
34. Loyalty 101
34
Why Miles Were So Successful?
Rewarding the Behavior You Seek:
Highly Appealing
Aspirational Value - People love to envision
themselves in their dream destinations that air travel can
take them to.
Trophy Value -Traveling is something to be proud of.
Perceived Value- More valuable than t-shirts or CDs.
It’s the Law - Gravity, Direction, Universal Principle
35. Loyalty 101
35
Problems Begin
By 1991:
All major airlines and banks
established exclusive relationships
Hundreds of credit card issuers
locked out
36. Loyalty 101
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Solution Found – Generic Points
1994: “Virtual Airline” is Born
The Idea
Run the world’s largest airline partnership
and outsource the jets, pilots, flight
attendants, airport operations
Miles by a different name
Single Branded Miles vs. Co-branded Miles
Generic vs. Branded Points
Non-Restrictive Points – Any Airline In The
World
Improved rate of attainability
37. Loyalty 101
37
Solution Found – Generic Points
How Generic Points Work:
Sold to Over 125 of the largest US Banks
Consumer Acceptance: fees $25 to $75
Spend Ranges: $8,000 to $22,500 a year
Officially Sponsored by MasterCard
Amex plays “Follow the Leader”
$200 Billion + Spent on Enrolled Cards
No need to Co-brand with an airline partner
38. Loyalty 101
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Solution Found – Generic Points
Unrestricted Points Are Simple & Powerful:
Compelling Offer:
Free travel – high perceived value
No complicated conversions
Singular reward
Customers join for free or fee, i.e.,
Fee for Classic and Gold cardholders
Free for Platinum cardholders
Fee for Small Business cardholders
40. Loyalty 101
40* Source: Carlson Marketing Group
Loyalty Learning's
Consumer Reaction to a Loyalty Program*
. . . can attract new business . . .
80%
52%
70%
16%
40%
24%
8%
6%
4%
0% 20% 40% 60% 80% 100%
Credit Card
Retail
Airlines
More business than before
Already giving company as much business as possible
Would have given them more business even w/o program
73%
18%
24%
18%
43%
47%
8%
39%
27%
1%
0%
2%
0% 20% 40% 60% 80% 100%
Credit Card
Retail
Airlines
Use just that company
Shop around/spread purchases less than before
Shop around/spread purchases same as before
Shop around/spread purchases more than before
“Companies can boost profits by almost 100% by retaining just
5% more of their customers.” - Harvard Business Review
45% started doing business with a company
because of their loyalty program
. . . and ultimately drive profitability
41. Loyalty 101
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Consumers were asked, “For what type of product do you
prefer to redeem your loyalty balances?”
Consumer Reaction to a Loyalty Program
26%
14%
12%
10%
4%
0%
0%
1%
18%
12%
18%
34%
0% 10% 20% 30% 40%
Under $30K
$30K - $49.9K
$50K - $74.9K
> $75K
AverageAnnualIncome
Source: Jupiter Communications/NFO (2/00); N=1,478
• Across all income levels,
travel is a strong loyalty
incentive
• The power of travel becomes
more pronounced as income
levels increase
CashGift CertificatesCharityTravel
Loyalty Learning's
42. Loyalty 101
42
Consumers were asked, “What type of reward would you prefer?”
Consumer Reaction to a Loyalty Program
Airline Miles
Gift Certificates
Merchandise from a Catalog
% Off Coupons
None
52%
16%
12%
11%
9%
Source: The Loyalty Effect, Frederick Reichheld.
Loyalty Learning's
43. Loyalty 101
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Loyalty Learning’s
71% of consumers if FFP said they wouldn’t
trade their frequent flyer benefits for lower
airfares.
Source: Frequent Flier Magazine
The proven addition of miles can drive
repeat purchases and maximize customer
lifetime value.
Source: Hambrecht & Quist
Consumers charge about $3,200 a year on
a typical credit card – add miles and they
spend more than $18,000 a year.
Source: Bank Rate Monitor
44. Loyalty 101
44
FFP Learning’s
How “Free Travel” Can Profitably &
Quickly Increase Revenue Channels:
Number of cardholders, activation rate, charge
volume, frequency and average purchase of existing
base
Profitability and loyalty of key customer segments –
moving existing customers up the spending ladder
Drive conscious choice in cardholders’ minds to be
loyal to your bank – particularly your “best”
customers
FREE TICKET
45. Loyalty 101
45
FFP Learning’s
How “Free Travel” Can Profitably &
Quickly Increase Revenue Channels:
Develop distinct differentiation over your competitors
Provide a low-cost, comparison program to “Rewards
Program” pilot tests in selected product or segments
Create stickiness to annual fees
Charge enrollment fees
FREE TICKET
47. Loyalty 101
47
The Evolution Continues
2000 Next Generation Of Mile Program
Miles + Network + Card + Travel
Shift From Frequency To Loyalty
48. Loyalty 101
48
The Vision Of WebMiles
Change The FFP Landscape
Offer One Of The Most Valued Rewards –
Unrestricted Airline Points – To Drive Profitable
Cardholder Behavior
Any Airline. Any Flight. Any Time. sm
Unlike Carrier Mile Programs – No Restrictions, No
Blackout Dates, No Limited Seating
Gain Member Value Through “Dollars Off”
Build A True Loyalty Network
Earnings Velocity Through Attainability – More Than
Web, Every Day Shopping
The Power Of The Universal Mile
49. Loyalty 101
49
Availability: 11 out of 134 seats or 8% Availability: 123 out of 134 seats or 92%
Availability drastically
enhanced. Rather than
being limited to an
estimated 8% of seats,
WebMiles has 92% of
seats available.
Flexibility drastically
enhanced. Rather than
one airline, WebMiles
can book on any major
carrier.
Travel-based loyalty solution with one airline
The Power Of The Universal Mile
. . . Or any other
airline
50. Loyalty 101
50
300 Miles 800 Miles250 Miles100 Miles 375 Miles300 Miles
$ 300 $ 300$250$ 100 $ 75$ 300
Gas & OilGrocery Electronics Trip TeleCom
Retail
(online & offline)
+ + ++ +
The Network as a Catalyst for Increased Spend and Activation
Miles Earned Through Partners: 2,125
Miles from Card: 1,325 +
Total Earning that Month: 3,450 +
PLUS all other
card purchases
outside the
partner network
$
Purchases on
card at partner
retail locations
Universal Mile + Network + Card
XYZ BANK
$1,325
51. Loyalty 101
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$0
$100
$200
$300
$400
$500
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
$2,200
$2,400
IncreaseinMonthlyChargeVolume(in$Millions)
* Revenue figure based on 2.9% of gross charge volume in interchange and miscellaneous fees, plus 60% revolving balances at 13.9% annual interest.
Average Monthly Spend
Incremental monthly revenue charge volume increases over 400% & revenues increase
$100Million + a year.
Sample Card Issuer with 200,000 cards
Increased
Spend
Increased
Activation
Increased
Acquisition
TOTAL
$ 4.0 M
$ 2.7 M
$ 1.9 M
$ 8.6M
$ 48.0 M
$ 32.8 M
$22.3 M
$ 103.1M
Monthly
Revenue
Increase
Annual
Revenue
Increase
EXAMPLE*
Incremental monthly
charge volume goes
from $72M to $314.2M
—an increase of
430%
Universal Mile + Network + Card
53. Loyalty 101
53
Reichheld Loyalty Effect Model
Six factors that allow companies to form a
clear view of a customer's life-time value:
The Yard Stick To Judge By
Cost of customer acquisition
Base profit
Increased profit from additional sales
Reduced operating costs of a loyal customer base
Profits from loyal customer referrals
Price premiums charged to loyal customers who are
less price sensitive
54. Loyalty 101
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When Forging New Alliances
Leveraging What Each Partner Does Best
Customer Ownership
Clear demarcation between who owns “touch points”
Privacy plays a big part in customer ownership
No one partner brings the customer to the table
Exit Strategy From The Start
Intellectual Property – Don’t Play It Too Close To The
Vest
Co-Branding – No One Partner Likes To Think Of Their
Brand Being Subservient To The Other
Considerations
55. Loyalty 101
55
When Forging New Alliances
Profitability Metrics
Partner economics
Tough without “open books”
Be careful of “who stands to gain more” thinking
Address immediately “the feeling the other partner is
gaining more” – otherwise a short-term relationship
Brand Reputations
Partner Customer Base
Partner Business Philosophy
Partner Product & Services
Considerations
56. Loyalty 101
56
When Forging New Alliances
Metrics Which Overlap Partners Include:
Acquisition
Attrition
Average Spend
Active Account Rate
Apply Learning’s From The Past Into Future Contract
Developments
Pricing adjustments built in based on movement of
economic variables
Allows the impartial third party – the market – to
impact pricing, reducing partner volatility
Considerations
58. Loyalty 101
58
When Forging New Alliances
Key Profit Drivers:
Annual Fees
% Of Active Accounts
Average Number Of Transactions
Average Transaction Size
Average Total Spend/Account
Average % Of Revolvers
Average Revolving Balance
Average % Interest Rate
Attrition Rate
Considerations
59. Loyalty 101
59
When Forging New Alliances
Keep Two Simple Thoughts In Mind:
Considerations
1. The Real Art Of The Relationship Will Be Managing
Circumstances Beyond The Contract - A Contract
Doesn’t Make A Relationship
2. The Whole Is Greater Then The Parts – Each Party
Brings Value, Ideas And Strength
60. Loyalty 101
60
As An Industry We Need To Keep In Mind:
Industry Wide Focus
Attainability Of The Program Member
Limited Earnings Capability = Short-Term Loyalty & Interest
Single Partner, Stand Alone Programs
Even Top Customers Can’t Make For A Successful
Program – It Requires A Network
Mind Set – “But I Don’t Travel”
Getting More Than The Top 8% Of A Base To Realize
They Can Travel
61. Loyalty 101
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The Close!
“All things are created twice: first mentally;
then physically. The key to creativity is to
begin with the end in mind, with a vision
and a blueprint of desired results.”
Stephen Covey
“If you can keep your head while those all
about you are losing theirs, you probably
haven’t check your voice mail.”
Jack Hennies
63. Loyalty 101
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Conclusion
The best way to keep your customers
coming back is to send them away.
Oddly enough, the ticket to cardholder
loyalty really is a ticket.
Editor's Notes
Acquisition and retention focus
Leveraging both consumer and channel to build loyalty
Each week, over 127 million customers walk through a Walmart in the US, versus 68 million people who watch ABC, CBS or NBC Evening News on average
Studies estimate that 70 percent of purchase decisions are made in-store and 68 percent of in-store purchase are “impulse buys
It is easy to see why investment in Shopper Marketing is estimated to be growing 21 percent annually when brands need to account for these factors. Canadian growth rate even higher
Canada is a mature market – 86% of Canadians actively participate in a loyalty program, vs. 52% in the US
the average Canadian has fewer than 5 loyalty cards in her wallet, compared to over 15 cards in the US
Canada is a hotbed for marketing services - 5650 advertising & marketing companies
The goal with this slide trying to get the point across that there are many, many ways merchants and business get the word out. New ways, combined ways, strengthened ways are key!
Key is that loyalty programs work and there is “lift” when redeeming points (buying more than earned).
This slide drives the idea that loyalty point programs have impact for merchants and sponsor companies. The study showed that this “pay for performance” strategy helps retailers see immediate results for the investment they make in the program. Consumers receive offers via a medium or source they know and rust, like an association, the creditability of the program communications is much higher than traditional advertising.
The goal is to offer the widest, deepest choice of rewards. No black out dates, no terms – just good rewards people and businesses want.
Jim Clarke’ Notes/Comments:
Using this case study, learn how issues of customer ownership, intellectual property, co-branding, and profitability metrics were decided and leveraged.
Customer ownership—with Citibank Aadvantage (CBAA) the customers are jointly owned, though there is clear demarcation between who owns what touchpoints for the customers. In fact, this ties back to why companies form a strategic alliance in the first place: leveraging what each partner does best. This is just like the economic theory of comparative advantage. Citibank handled everything on the banking side and AA the program administration and fulfillment because it didn’t require developing much in the way of skills and resources outside the current areas of expertise. Only when it was determined that the customer experience needed to be enhanced were these lines crossed. Specifically, Citibank customer service reps can answer basic Aadvantage program questions without forcing the customer to transfer to an Aadvantage rep for handling. Additionally, privacy plays a big part in customer ownership. Customers absolutely need to be comfortable that their banking information is not being shared outside the bank. Finally, part of the agreement is an exit strategy which stipulated that after the CBAA relationship was severed, each party could independently market their own respective new products or relationships to the customers. No one party “owns” the customer since the reality was that no one partner brought the customer to the table independent of the other to begin with. Hand-in-hand on the way up, hand-in-hand on the way out.
Intellectual property— A company enters into a relationship with another company because each wants to leverage the other’s skills, knowledge, market strategies, etc. Playing one’s cards too close to the vest in this regard invites trouble.
Co-branding—a very thorny issue. No one partner likes to think of their brand being subservient to the other. In the case of airline cards, however, the primacy of the airline brand was borne out through research. The airline brand represents all the intangible reasons why a consumer would pay $50 for a credit card—the aspiration of travel, feeling savvy, etc. The bank’s brand was very important from a “hygienic” point of view: do I trust this bank, do they post my payments on time, do they do a good job handling disputes with merchants and so forth. Citibank didn’t like this much, however, and worked constantly to elevate the meaning of the brand in the mind of consumers. This led to fights over who’s logo went where on the card, on the ads, in the application, who’s name was mentioned first when referring to the card. It seems petty, but to the marketing people, this was anything but a trivial discussion. Take a look at Citi’s new card art. The CITI logo stretches from top to bottom on the card, and they forced MasterCard’s bug on the back. That’s serious stuff.
Profitability metrics—the other thorny issue. Consequently, each side really believed the other to be making a bigger pile of cash than the other. This is a very divisive issue because whenever something needs to be negotiated, and if it isn’t spelled out in the contract who will do what, then the discussions inevitably ended up focused on who “stood to gain more” from this promotion, advertisement, mailing, etc. Suffice it to say, with the resources each partner decks against a relationship, neither party should be driven to the poor house with a deal. The structure of who pays whom for what was not perfect coming out of the gate, either. See more notes on this subject later in the “adjustments” section below.
…working through relationship economics
Economics are not always openly shared, but the feeling that one partner is gaining more from the relationship than the other needs to be addressed immediately, or the relationship will be a short one. See “adjustments” section below.
…and politics,
When two elephants are dancing… This is especially true of branding disputes. In my experience, the relationship is less about politics than it is about the tactics behind the political advantage: the finer points of negotiation—constant negotiation and give-and-take. I would suspect any good checklist for a successful alliance would have “ability to quickly and effectively negotiate” as a key success factor near the top.
…finalizing contract considerations,
The CBAA contract process was murderous given the dollars at stake. The evolution of the contract is remarkable as each successive renewal tried to incorporate the learning from the past, plus anticipate the future. We never could clearly anticipate everything though, so the real art of the relationship was managing circumstances beyond the contract. Additionally, after the contract was in place, the more the contract was referred to in discussions between the parties during the course of ongoing business, the worse the atmosphere between the parties. Both sides tried hard to avoid the dialog of, “well the contract says you have to do X and Y, and you’re not doing it.” That causes a negative working environment. The contract cannot become the basis of the relationship.
…measuring results,
Since we both contributed heavily in generating the results, we both were equally interested in how things actually turned out. There were only a few key metrics that overlapped for both of us though that we shared: acquisition, attrition, average spend and active account rate. Other than that, since we didn’t have open books, each one of those four variables ended up meaning something different for our respective P&Ls. The only time measuring results became a contentious issue was when we were sure the other guy was benefiting more from an initiative, but we never had solid proof.
…and structuring automatic consequences and adjustments as programs mature.
This was one of the bigger bits of wisdom as the CBAA relationship evolved. The first year of the agreement, Citibank was being killed by the transactors—something the initial contract did not anticipate adequately. Knowing that the potential for a great relationship was there if this hurdle could be overcome, the entire contract was scrapped and re-started for year two. Both parties were satisfied, and the relationship grew to become one of the true partnership success stories, and very lucrative for both parties. While questions remained on who really ended up with the better deal, at the end of the day, there’s no chance either would walk away from the other because of this lingering doubt. Perhaps the next evolution to the relationship will be open books, but who knows. Finally, as was stated in the “contract” section above, subsequent contracts tried to incorporate what was learned in the past. The CBAA contract now has automatic pricing adjustments built in based on the movement of six different economic variables. This kind of thing is very helpful because it turns pricing—a potentially volatile issue—into something that is adjusted by an impartial third party, in this case, the market.