loyalty programs

It's always a good time to focus on keeping your customers happy and loyal. In this episode of Banking Out Loud, we discuss ways to increase customer loyalty and offer 3 tips to get started and also key mistakes to avoid.

Fractional share programs provide an attractive alternative to traditional loyalty programs and could be more effective with customers. Should your institution consider implementing one? We go into the details.

Small business customers have no shortage of financial service options, from traditional banks to fintech offerings. Fostering loyalty among this group not only requires providing them with added value, but with the sense that your CFI understands their individual businesses and their unique needs.

Owning fractional stock in a company — less than one whole share — is becoming more popular, particularly among younger people who are just starting their careers. CFIs can now offer their customers fractional stocks of a merchant company participating in their debit card reward program. We detail how and the benefits of doing so.

It is not always easy to satisfy your digital customers. One survey shows that 61% of banking customers said they would switch banks if they were dissatisfied with the mobile banking experience. Yet, there are two key strategies that community financial institutions can deploy without breaking the bank with cutting-edge technology, branch digital advocates and digital loyalty programs.