Four things consumer finance companies can do to encourage cross-selling

By | September 18th, 2018|Consumer Finance|

As a consumer finance company, you may very well sell the entire spectrum of financial products that a person might need from cradle to grave. The person who got their very first credit card from your company will someday need a home loan. Then a re-fi. Then a 529, a Roth IRA, a 401K, etc. [...]

Five ways consumer finance companies can improve transparency

By | September 18th, 2018|Consumer Finance|

When we do business with a company, we want to know that the arrangement is straightforward and our interests are protected. That requires you to see into the mechanics of the relationship and quickly understand 1) what you’re getting and when and 2) what it will costs you so that you know that the scales are [...]

Why consumer finance companies should go back to the basics

By | September 18th, 2018|Consumer Finance|

Everyone knows that financial services consumers shop on price – the lowest interest rate always wins, whether it’s a mortgage, a credit card, or any other loan, right? Wrong. According to survey data compiled by PricewaterhouseCoopers, an average of 53 percent of consumers value service above the interest rate when it comes to selecting lenders for [...]

What telecoms have to gain by protecting their customers

By | September 18th, 2018|Telecommunications|

3.7 billion people. That’s the number of individuals around the world who were using a mobile device in early 2018, according to a leading statistics company Statista. That’s around half of the entire population of the planet. In addition, the firm reports that the amount of global mobile data traffic is expected to increase sevenfold between [...]

The inescapable link between telecommunications and identity protection

By | September 18th, 2018|Customer Loyalty, Loyalty|

Digital devices are thoroughly entwined in our way of life, leading some to argue that they have become an extension of ourselves. According to Flurry Analytics, the average American spent five hours on their mobile device per day in 2017, an increase of 69% from 2016. That equates to 24 hours a day for 76 days a year. [...]

Five data security issues keeping your customers up at night

By | September 18th, 2018|Customer Loyalty, Loyalty|

2018 has been a wild ride for digital users on the data security front. According to data from The Identity Theft Resource Center (ITRC), 1,579 data breaches exposed approximately 179 million consumer data records in 2017. More alarmingly, those figures were up 44% and 389%, respectively, from 2016. Meanwhile, a 2017 Consumer Fraud Protections Survey from AYTM, an independent research [...]

How to build a loyalty boomerang to keep customers coming back

By | September 18th, 2018|Customer Loyalty, Loyalty|

According to Bain & Co., it costs seven times more money to attract new customers than it does to keep existing customers. If you retain just five percent of your customers annually, you can generate up to 125 percent more profits. More and more, companies are adopting programmatic ways to garner repeat customers. They’re thinking [...]

Five fundamentals for building a (truly) loyal customer base

By | September 18th, 2018|Customer Loyalty, Loyalty|

In his now famous TED Talk (more than 12 million YouTube views), best-selling author and adjunct staff member of the RAND Corporation, Simon Sinek discusses connecting with customers on a different level. A deeper level. A level where it’s about more than the product or even the brand, it’s about beliefs and philosophies—about why you do what [...]

Six trends for building customer loyalty in 2018

By | September 18th, 2018|Customer Loyalty, Loyalty|

There are many tools designed to create customer satisfaction and engagement with the aim of building ongoing customer loyalty, from rewards programs to one-click ordering to personalized discounts. But the strongest emerging trends in consumer loyalty suggest that successfully building loyalty must be part of a large, overarching strategy rather than a disparate set of [...]

How Proactive Customer Service Improves Loyalty

By | May 31st, 2018|Uncategorized|

Long ago, in the days before outsourced call centers and sophisticated phone trees, customer service was about actually servicing customers, thinking about customer experience and trying to make it better whenever possible. Today it seems to have become more about troubleshooting errors and placating irate buyers. To the average person, customer service staff is there [...]

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