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Improving Customer Retention And Loyalty Programs With Blockchain [Forbes]
Last american express company earnings: 4/24 07:00 am
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US:NYSE Investor Relations: ir.americanexpress.com
Photo:GettyIn today's economy, customer loyalty is highly sought after. With intense competition among retailers, brands don't want to just retain and reward customers, but also keep their brand relevant and foremost in customers' minds. As customer-centric business models become the norm, loyalty programs are a strategic investment that companies can't afford to overlook.With the loyalty management market expected to be worth$10.9 billion by 2024The ChallengeTraditional loyalty programs present challenges for both companies and customers.Organizations are concerned with estimating liability, personalization, improving conversion rates and uniformity among channels. From the customer side, there are challenges with restrictions and rules, reward options and the most common problem: losing track of accumulated rewards points. This isn't surprising given that the average U.S. household participates in up to29 different loyalty programsArmed with this information, companies that want to
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