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DSW Credit Card | Login | Payment | Customer Service
Discover the convenience of the DSW Credit Card! Access your account, recover your username and password, register for exclusive benefits, make payments, and enjoy exceptional customer service. Explore the world of stylish footwear with DSW! Read more...
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Fraud Prevention Checklist Steps To Assist Prevent Financial Institution Fraud
Store canceled checks, new checks and account statements in a protected place. Receive and store as lots of your account statements electronically as you'll be able to. Consider going paperless and accessing your statements via Online Banking. Use ATMs with surveillance cameras and pay attention to folks and your environment.
If a consumer only finds unfavorable reviews or can't find any critiques in any respect, they want to reconsider the danger of doing business with this company. Discourage your prospects from readily disclosing it, even if the person requesting the information claims to characterize a trusted organization. The penalties can be serious, for instance, with userâs private information attackers can commit account takeover fraud and use the account to open lines of credit or switch wealth to an unknown account. Ransomware is a form of malware that encrypts your local recordsdata on the contaminated system. In order to acquire the encryption key to as soon as extra entry your files, the fraudster will demand payment. Worse but, paying the ransom is not a guarantee that the fraudster will provide the encryption key.
It will protect from loss of money, property, and different assets because of fraud. It will also present safety in opposition to employee theft, forgery, break-ins, and extra. To get the most fraud awareness out of your fraud danger evaluation plan, ensure that each risk/control pair has its stakeholder that shall be responsible for its implementation.
There are a number of keys to efficient prevention, but a few of the most essential tools within the corporate toolbox are sturdy internal controls. Equally necessary, although, are the company's attitude in the path of fraud, internal controls and an ethical organizational culture. While ethical tradition is driven by senior administration's management surroundings ("tone on the high"), buy in from the company's Board of Directors and Audit Committee are additionally essential in promoting an moral and transparent setting. Data breaches happen when a fraudster infiltrates a corporate community and copies information from the database. Often the fraudster is seeking customer data, credit card info, or other personally identifiable info.
Funds have lengthy fought fraudstersâ makes an attempt at phishing, id theft, romance scams, account takeovers, and extra. ICI members have reported that fraud has elevated significantly and that the methods for perpetrating fraud proceed to evolve. ICI performs a critical role supporting membersâ fraud prevention efforts on a quantity fraud awareness of fronts, including work from its Fraud Prevention Working Group. Raising awareness about fraud, together with cybercrimes, implies that finest practices are being handed on, from one worker to the next, one family member to a different.
Fight fraud with instruments and insights from the industry sectors below. An ecosystem of information and service providers for the insurance industry. Powerful information fusion and analytics solutions to make business much more efficient. Draw clear, actionable insights to realize your agencyâs mission by leveraging LexisNexisÂź data, identification intelligence and linking expertise. Fraud may be present in business, authorities, and in the medical sectors.
The DSW Shoe Warehouseâs 1.4 million bank card breach results in the large boom age of data breaches. As the Master of the Royal Mint within the 17th century, Sir Isaac Newton confronted a number of challenges of fraud that kept him busy all through his tenure. He was also a victim of the earliest, most distinguished funding crashes, the South Sea Bubble. During that period, there was a startup mania ongoing, with everybody speeding to put money into one innovation or the opposite with out understanding what they had been investing in. Those ventures never floated, and people lost a fortune to the bubble.
Every state of Minnesota employee is liable for detecting and preventing fraud within the State of Minnesota. Fraud is usually perpetrated through artificial identities, buyer account takeover, nefarious functions, digital funds and authentication, procurement and different fraud awareness monetary crimes. Financial institutions detect fraudulent transactions in real time with fewer false positives and detect cash laundering or terrorist financing by way of complicated algorithms looking at a mess of factors.
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Top 10 Must-Know Data Breach Statistics for 2020
A data breach is any incident where confidential or sensitive information has been accessed without permission. Breaches are the result of a cyberattack where criminals gain unauthorized access to a computer system or network and steal the private, sensitive, or confidential personal and financial data of the customers or users contained within.
Common cyber attacks used in data breaches are:
Ransomware
Malware
Phishing
Denial of Service
As we enter the year 2020, the more companies are experiencing crippling security breaches. Latest data breach statistics show that hackers are highly motivated by money to acquire data, and that personal information is a highly valued type of data for them. But why put all the blame on hackers and cyber-thieves? The fact is companies are still not prepared enough for breaches even though they have all the state-of-the-art tools to play.
Latest data risk report says that companies still keep thousands of files unprotected and open for anyone inside the company to access. In this post, we have mentioned some of the most impactful and damaging data breaches statistics on record so that companies could be aware of the threats and the potential damages caused by a data breach.
2005 is the year the first data breach (DSW Shoe Warehouse) exposed more than 1 million records.
The largest insider attack occurred from 1976 to 2006 when Greg Chung of Boeing stole $2 billion worth of aerospace documents and gave them to China.
As of 2015, 25% of global data required security but was not protected.
In 2017, Equifax, one of the three major U.S. credit reporting agencies, had exposed 145.5 million accounts including names, Social Security numbers, dates of birth, addresses, and, in some cases, driverâs license numbers of American consumers.
The United States saw 1,244 data breaches in 2018 and had 446.5 million exposed records.
Data breaches exposed 4.1 billion records in the first six months of 2019.
In 2019, First American Financial Corp. had 885 million records exposed online including bank transactions, social security numbers and more.
On March 21, 2019, Facebook admitted that since 2012 it has not properly secured the passwords of as many as 600 million users.
On December 19, 2019, over 267 million Facebook usernames, Facebook IDs, and phone numbers were exposed.
A cyberattack occurs every 39 seconds. It is estimated that a business will fall victim to a ransomware attack every 11 seconds by 2021.
How to Protect Personal Information?
Itâs important to take steps to help protect your personal information as more incidents of data breaches are expected in the coming years. Itâs crucial to properly set permissions on files and remove stale data. Itâs also important to realize what happens when you share personal information: You likely have little control over how your information is secured or what could happen to it in the event of a data breach. You can take the following steps to strengthen your personal defenses against the damage which could result from your data being breached.
Shred documents.
Use secure websites.
Give your Social Security number only when absolutely required.
Create strong, secure passwords using uppercase and lowercase letters, non-sequential numbers, and special characters symbols. You can even find unusual approaches for boosting password strength.
Use different passwords on every different account. This can help minimize the damage if one of your account passwords is exposed or compromised.
Make sure your computers and mobile devices are running the latest versions of operating systems and applications.
Frequently monitor your transactions online and your monthly financial account statements to make sure transactions are accurate.
Regularly check your credit reports to confirm that identity thieves havenât opened credit card accounts or loans in your name.
Do not use vulnerable services like Facebook, WhatsApp, Telegram etc.
Conclusion
In the end, if you do not want to be a victim of a data breach then use secure software like Signal Private Messenger. It is a cross-platform encrypted messaging service but it can be used for professional applications as well like video-conferencing, group chat etc. The best part is all Signal communications are automatically end-to-end encrypted which means only concerned user(s) can have access to chat / communication. Along with end-to-end encrypted messages & calling, Signal users can also send and receive unencrypted SMS messages on making it the default SMS/MMS application.
Download the Signal App NOW to make sure you are safe from all types of data breach.
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Krispy Kreme Serves Americansâ Favorite CoffeeâHarris EQ Study
The best coffee chain in the U.S., as determined by more than 77,000 participants for the Harris Pollâs 30th annual EquiTrend Study, isnât Starbucks or Dunkinâ Donuts, but Krispy Kremeâwhich wins points with customers for regularly handing out free donuts.
This year, 80 brands were named #1 in their category; a sampling:
Retail: Department store: Kohlâs Luxury department store: Nordstrom Hardware & home: The Home Depot Shoes: DSW (Designer Shoe Warehouse) Sporting goods: DICKâS
Hotels: Economy: Microtel Mid-market: Hampton Inn & Suites Upscale: Courtyard by Marriott Premium: Marriott Luxury: Four Seasons
Consumer goods: Coffee maker: Keurig Digital camera: Canon Major appliances: KitchenAid
Auto: Luxury: Lexus Full line: Honda
Online: Auto shopping: Kelley Blue Book (KBB.com) Job search: Indeed Home search: Zillow Travel service: TripAdvisor Social network: YouTube
Financial: Mobile payment: PayPal National bank: Capital One Online bank: Barclays Regional bank: BB&T Credit card: Visa Investing: The Vanguard Group
Insurance: Life: AXA Multi-line: AAA Property & casual: GEICO
Digital entertainment: Car audio: Bose Streaming audio: Pandora Streaming video: Netflix
TV: General: PBS Pay cable: HBO News: The Weather Channel Factual: History Channel Sports: ESPN Entertainment: AMC Kids: Disney Junior
Airlines: Full service: Hawaiian Airlines Value: Southwest Airlines
Restaurants: Hamburger: Five Guys Burgers & Fries Pizza: Blaze Pizza Chicken: Chick-fil-A Mexican: Taco Bell Sandwich: Panera and Subway (tie) Casual: The Cheesecake Factory and Texas Roadhouse (tie) Coffee: Krispy Kreme Ice Cream: Ben & Jerryâs
Tech: Computer manufacturer: Microsoft Printer: HP Smartphone: Apple iPhone Smartwatch: Asus ZenWatch Tablet: Apple iPad Virtual Personal assistant: Amazon Alexa and Apple Siri (tie)
Services: Car rentals: Enterprise Delivery: UPS Real estate: Berkshire Hathaway HomeServices Wireless carrier: Verizon Wireless
Measuring brand health over time, the EquiTrend Brand Equity Index is comprised of three factors â Familiarity, Quality and Purchase Consideration â that result in a brand equity rating for each brand. Brands ranking highest in equity receive the Harris Poll EquiTrend âBrand of the Yearâ award for their respective categories. This year, more than 77,000 U.S. consumers assessed more than 3,000 brands across more than 300 categories.
This yearâs EQ study reflected an emerging trend in consumer behavior â the push to simplify and align with brands they know and trust. The common thread in the 2018 EQ study is waning familiarity strength among consumers. While the overall EQ study score average is stable overall, one-quarter of brands measured in 2017 showed a significant decline in EQ scores. The decline reveals that consumers are becoming less connected to a large set of brands and more connected to a smaller, select set of brands, marked by decreasing brand awareness and quality perception in this yearâs study.
While many of these brands are mainstays with strong equity as a whole, it seems that in the social age of waning attention spans and the fast pace of new products, consumers are turning inward and focusing on select brands they know and trust. Only 10% of brands saw a significant increase in equity from 2017.
âThe EQ study reveals that brand equity is no longer guaranteed by size or media impressions,â stated The Harris Poll CEO, John Gerzema. âThis is actually a time when being âbigâ is code for being the establishment. As private label and the popularity of craft products rises, brands are now differentiated on their values, personal connection and their ability to build community.â
The post Krispy Kreme Serves Americansâ Favorite CoffeeâHarris EQ Study appeared first on brandchannel:.
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New Post has been published on Toronto Events, Activities and Entertainment
New Post has been published on https://www.torontonicity.com/2020/02/16/cross-border-shopping-toronto-buffalo-erie/
Cross Border Shopping from Toronto: Buffalo, Erie, Rochester
Cross border shopping has been a favourite pastime of Torontonians for decades! I remember crossing the border to shop with my office colleagues in Niagara Falls, New York over two decades ago. We were in the U.S. for only three hours and each of us did a bit of shopping, but none of us declared any of our purchases. The border agent became suspicious and asked us to pop open the trunk where he discovered a full set of Mikasa dishes, a raincoat, a frying pan and a set of baseball cards. The agent overlooked most of our purchases as they were minimal, but ordered the person who had bought the set of dishes to pay duty on them. Things have changed in 20 years, but you still donât want to mess with border agents.
Eastview Mall in Rochester, photo Matthew D. Wilson
Each State Charges Different Sales Tax
The Canadian dollar has been hovering around .75 USD for the past year. This doesnât make it very advantageous for Canadians when you are paying in US dollars, but the allure of shopping in the U.S. easily overrides that. There is so much more selection to choose from and if you shop carefully, you will score some great deals, even when you factor in the exchange rate. You also want to take into account how much sales tax you will pay in the U.S. The sales tax on clothing and shoes varies from state to state. In Pennsylvania, the 6% sales tax is exempt on most clothing and footwear while New Yorkâs state tax is 4% sales tax and city or county tax is an additional 4%. In Michigan, the sales tax is 6%. (adsbygoogle = window.adsbygoogle || []).push();
Convert Your Money in Canada
Before you visit the U.S., convert your money in Canada to U.S. dollars. Youâll be able to shop around for the most competitive rates in Toronto either at your bank or at smaller foreign exchange services, which tend to offer more attractive rates than banks.
Use Credit Cards with No Foreign Transaction Fees
If you are going to use a credit card instead of cash, try and use a credit card with no foreign transactions fees. Many Canadian credit cards charge a foreign exchange rate of 2%-3.5% in addition to a foreign transaction fee of approximately 2.5%.
Letâs have a look at some popular shopping malls in the U.S. that are relatively close to the Canadian border and within 2-6 hours of Toronto.
Walden Galleria, Cheektowaga, NY
The Walden Galleria is a really popular shopping mall with Torontonians since it is located in nearby Buffalo, NY. The over 180 stores include Macyâs, JCPenney, Michael Kors, Williams-Sonoma, Hugo BOSS, Anthropologie, J.Crew, Free People, Vans, ZARA. Thereâs an indoor karting track, a movie complex, and various restaurants including The Cheesecake Factory and Tim Hortonâs. Walden Galleria is about a two-and-a-half-hour drive from Toronto.
Eastview Mall, Rochester, NY
Although many Torontonians head to Buffalo for cross border shopping, the Eastview Mall in Rochester NY, is another viable option. Rochester is 123 kilometres or about a 70-minute drive from Buffalo. Youâll find stores including Macyâs, Lord & Taylor, J.Crew, L.L. Bean, Target, Best Buy, Von Maur, Apple, JCPenney, Anthropologie, Sephora and Williams-Sonoma. You can travel to Rochester via the Thousand Islands Bridge or cross at Niagara Falls. (adsbygoogle = window.adsbygoogle || []).push();
Millcreek Mall, Erie, PA
Millcreek Mall is located in Erie, Pennsylvania, which is 90 minutes (148 kilometres) west of Buffalo, New York. With approximately 180 stores including Macyâs, JCPenneyâs, T.J. Maxx, DSW, Boscovâs and Pandora, this mall features mid-scale stores for family shopping. The kids can also enjoy the entertainment section of the mall that feature bowling and other games. Be sure to drop by the Customer Service booth to pick up a coupon for an extra 10% off. Keep in mind also that you wonât pay sales tax on clothing in Pennsylvania and footwear.
Great Lakes Crossing, Auburn Hills, MI
The largest outlet mall in Michigan, Great Lakes Crossing is located in Auburn Hills, a suburb of Detroit. Great Lakes Crossing includes regular and outlets stores such as Aldo Outlet, Aldo, Banana Republic, Banana Republic Factory Store, Bed, Bath & Beyond, Burlington, Calvin Klein, Calvin Klein Company Store, Clarks Bostonian Outlet, Coach, Coach Factory, Columbia Factory Store, DKNY, Gap Outlet, Guess Factory Store, Hugo Boss, Hugo Boss Factory Store, J. Crew, J. Crew Factory, Kate Spade, Kate Spade New York Outlet, Michael Kors, Michael Kors Outlet, Naturalizer Outlet, Nike Factory Store, Skechers Outlet, Swarovski, Talbots Outlet, T.J. Maxx, True Religion Outlet, Vans, as well as movie theatres and a play area with a carousel and Legoland.
Twelve Oaks Mall, Novi, MI
Twelve Oaks Malls is a popular Michigan mall for cross border shopping. Located in Novi, Michigan, just 30 minutes (46 kilometres) from Detroit, this shopping mall features over 180 upscale stores including Nordstrom, Macyâs, Coach, Michael Kors, Williams-Sonoma, Pandora, Kate Spade, Vera Bradley, BCBGMAXAZRIA, Swarovski and Sephora. Sales tax in Michigan is 6%.
How Much Can Canadians Bring Back from the U.S.?
If you visit the U.S. for cross border shopping and stay for less than 24 hours, you cannot claim any of your purchases. That means youâll have to pay duty on the goods you have purchased in the U.S. when you cross the border back into Canada. If your stay is between 24 and 48 hours, you can claim CAN $200 worth of exemptions, and after 48 hours you can claim CAN $800 worth of exemptions. Be sure to keep all of your receipts. If you exceed your exemption, you will have to pay HST of 13% on all your purchases.
You might be interested in reading, â5 Tips for Saving Money When Visiting Niagara Fallsâ.
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Customer Loyalty and Customer Satisfaction: The Only Guide Youâll Ever Need
Letâs get right to it: loyal customers are more valuable to your business than not-yet-acquired or un-loyal customers. Well-executed customer loyalty programs pay themselves back over time. Unfortunately, a lot of brands set up loyalty programs and convince customers to sign up, but they donât see any results.
There are a ton of stats out there about customer loyalty and satisfaction. I read them. They all boil down to these points:
Itâs less expensive for a business to keep a customer than to acquire a new one.
Satisfied and loyal customers spend more.
More satisfaction leads to more loyalty and more spending.
Satisfied customers tell other people about the brand, which leads to more satisfied-turned-loyal customers.
Bottom line: customer loyalty can help a business scale faster than sales and marketing can.
The Difference Between Customer Loyalty and Customer Satisfaction
Letâs define customer loyalty and customer satisfaction to understand the difference:
Customer Loyalty: The customerâs willingness to purchase from a company multiple times.
Customer Satisfaction: How pleased a customer is thanks to their positive experiences with a brand and the value they receive from interactions and purchases.
While theyâre related, customer loyalty is the result of customer satisfaction. Loyal customers have decided that they get the most value from sticking with one brand, even if there are lower prices or different benefits offered by a competitor.
Customer satisfaction is driven by customer experience and customer service, and brands have to keep those experiences positive. According to American Express, 33% of American say theyâll consider switching companies after just one poor experience.
The Customer Loyalty Program
Brands create customer loyalty programs to reward loyal customers with coupons, freebies, advanced-release products, VIP treats, etc.
The problem is that some brands are wasting time and money on their loyalty programs. According to The Loyalty Report from 2017, which sampled over 28,000 consumers in North America, the average consumer is enrolled in about 14 loyalty programs but only participates in less than half of them. In one way or another, half of those programs arenât offering enough value to the consumer or theyâre too complex to figure out. The program is so not worth it that the consumer went through the trouble of signing up but never feels like taking advantage of the perks.
Donât create that kind of loyalty program.
5 Types of Loyalty Programs
1. The Point System
The point system is possibly the most common type of loyalty program out there. Customers earn points when they make a purchase. The more frequently they shop, the more points they accrue. Those points can eventually buy them a reward, like a discount, freebie or VIP service.
The point system is best for brands that have short-term products (coffee, makeup) and that want customers to make frequent purchases. However, points (and miles) are also used in the travel industry, possibly because the purchase amounts are so high that customers can accrue thousands of points with just one purchase, adding to the programâs appeal.
How the points are acquired and how they can be redeemed for an award can be too confusing. âFor every dollar spent, youâll get 1.5 points, and 1.5 points are equal to 50 cents, and once you get $20 dollars in points, youâll get 15% off your next purchase.â Thanks, but Iâll pay the extra 15% to not have to listen to that again.
Starbucks has one of the better loyalty programs, but I still think itâs too confusing. Plus, they donât just say ârewards,â they also talk about âstars,â which I guess are points, but itâs an extra level of stuff to understand. Itâs also unclear how many stars/points actually translate to rewards:
Make the conversions simple. Speak the customerâs language. I had a hard time finding an example of a company that does this well, but the closest I came was this travel rewards card from Wells Fargo. The numbers make sense in relation to one another â $3,000 gets you 30,000 points, which is $300 cash value.
PayPal also does this well. If you use your PayPal debit card, you get 1% back on certain types of transactions. At the beginning of every month, the cash back is deposited into your account. Couldnât be easier to understand, and they handle the reward collection component for you.
2. The Tier System
At first, the tier system sounds almost exactly like the point system because points (or rewards) are given to customers. However, the tier system starts off with small, base rewards and then increases the value of the rewards as the customer becomes more loyal and buys more. Customers get short-term value from the program no matter how little they spend.
Source: Virgin Atlantic Flying Club
The tier system is best for brands with high price points and high-commitment customers, like travel and insurance companies. The goal is to hook the customer as early as possible so they keep returning.
I see the same problem with the tier system that I see with the point system: it can be hard to figure out. However, brands that have expensive offerings may find it easier to hook customers with this type of loyalty program. I may not be willing to figure out the tiers for saving on cosmetics, like with the Tarte program, but Iâll definitely sit down to figure out the tiers when Iâm spending hundreds or thousands of dollars on travel. The stakes are higher, and therefore my commitment is higher.
3. The Upfront Fee Charge
This type of loyalty program requires the customer to buy-in to reap the benefits. Thereâs a one-time, monthly or annual fee serving as a paywall to the loyalty program. This program is best for companies that need frequent, repeat business, and that want to make it more convenient for customers to buy regularly.
This program sounds terrible at first, right? Then I realize Iâm doing it with Amazon Prime, and that I love Amazon Prime and order from them constantly.
I want to walk through a mini case study to illustrate how companies can do this well. This is based on my experience with Amazon Prime, and even if youâre an anti-Amazon-er, thereâs wisdom to be gleaned from how I became so loyal:
Competitive prices plus free 2-day shipping mean that I will stand in a store, holding the item I want to buy, and still order it from Amazon. I save money on the item and donât pay for shipping â Amazon has solved two purchase barriers for me (and the mobile app couldnât be easier to use).
The other Prime freebies are highly valuable to me â free movies, TV shows and books. I take advantage of them weekly.
Since Iâm already watching and reading with Prime, if I do want to rent a movie or buy a book, I do so through Amazon â Iâm already there, theyâre giving me a great experience and my credit card information is ready to go.
Solve the purchase problems your customers have, throw in extra perks that complement the products you sell and make it super easy for the customer to take advantage of everything.
4. The Values-Focused Program
For brands with customers who have strong values, a loyalty program can tap into those beliefs.
I wrote about this in our Marketing to Millennials: What You Need to Know to Close the Sale article, so Iâm going to quote myself here to give you an example:
âMy favorite example of this is BoxLunch and their Get Some Give Back initiative, which provides a meal to someone in need for every $10 spent. BoxLunch sells unique pop culture clothing and gifts, with bright colors and cartoon characters kids would love. You only have to spend $10 to have that meal donated, and being surrounded by so much fun makes me think of all the families that donât even have that much to spare. Without fail, I make a purchase every time.â
This type of program is ideal for the millennial buyer because they tend to choose brands based on shared values.
Brands can approach this from either direction. They can get customers in the door with the products they sell (like BoxLunch does), or they can put their value-based message front-and-center, like TOMS does. Even though Iâve never owned a pair of TOMS, Iâm well aware that they donate a pair of shoes for every pair purchased.
5. Honorable Mention: The Coalition Program
Brands can partner with complementary businesses to expand the reach of their loyalty program. When I ran digital marketing for a bakery in North Carolina, I encouraged them to partner with a nearby coffee shop to promote each otherâs businesses. The bakery sold individual treats but didnât serve coffee, and the coffee shop had limited baked goods available. Is there anything better than something sweet and bready paired with a cup of hot coffee? There isnât.
A co-branded deal is beneficial for both companies as well as their customers. The companies will reach each otherâs customers, who are all part of the same audience. Customers will trust your brand because they see that you care about whatâs best for them, not just getting another sale.
Loyalty Program No-No
There are some brands that seem to always have coupons for loyalty program members â DSW, Bath and Body Works and Bed, Bath and Beyond are three of them. On the one hand, this is great for the company because if Iâm going to buy shoes, candles or household items, Iâm going to these stores because I have a coupon for them. On the other hand, I donât value the products for their quality, I value them for the money they save me â and if Iâm shopping during a rare time when I donât have a coupon, Iâm not shopping there at all.
All three of these companies could do more to gain my loyalty, and none of the improvements have to do with discounts:
DSW could have more sizes available and check customers out faster so the lines donât take forever.
Bath and Body Works could lower the price of their large candles (almost $30 for a fast-burning candle is too much) or make product changes so they burn for longer.
Bed, Bath and Beyond could have a less-cluttered store and better customer service. Even thinking about walking in there feels like a time-suck.
These are perfect examples of where customer satisfaction would lead to more customer loyalty. The customer loyalty program would then just be the cherry on top for an already-committed customer.
The #1 Way to Create a Successful Customer Loyalty Program: Generosity
The more you give away, the more your customers will appreciate you.
Iâm a member of the REI Co-op, and the day I joined, I was on the phone with a hiker friend of mine â we were signing up at the same time so we could take advantage of a discounted outdoors class. âThat canât be right,â I kept saying. âIt must be $20 every month. How can that be right?â It was right â for a one-time fee of $20, REI gives you lifetime benefits. Fantastic benefits, like 10% cash back, seriously-discounted garage sales and wilderness classes, and even more discounts off purchases and new products.
Give away as much as you can, as often as you can. Show your customers you care about them. Throwing a generic 10% discount at them isnât going to gain you any loyalty.
Final Thoughts
There are a couple of different sides to customer loyalty, and the way customers express their loyalty may be based on customer satisfaction. A customer may spread positive word-of-mouth about your company, but they may not make frequent purchases â maybe they like the experiences theyâve had, but they donât find value in having too many of them. Or, the customer may be a frequent buyer because youâve made the process easy in some way, but they could be neutral about or displeased with the experience. You want the customer to be both loyal and satisfied.
Here are the key takeaways:
Loyal customers are the most valuable customers you can have.
Customer satisfaction has to precede customer loyalty if you want the biggest ROI for your loyalty program. Donât try to gain loyalty through rewards alone.
The best loyalty programs are simple to understand and/or simple to take advantage of. For example, a well-designed mobile app can make it easy for the customer to collect, view and use points.
Loyalty programs should solve some problem for the customer or make their life better in some way.
Be as generous as you can possibly be.
Like any marketing program, a customer loyalty program has to be tracked and assessed to make sure itâs working. Surveys, data and tuning in to online mentions of your brand will help you determine if and why your customers or loyal. Check out my article about identifying the best KPIs to track for your goals to help with this part.
The post Customer Loyalty and Customer Satisfaction: The Only Guide Youâll Ever Need appeared first on Elegant Themes Blog.
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Target expands its loyalty program. Itâs about the data
Target is gradually expanding a free loyalty program that helps it gather key information about customersâ shopping habits.
The program, Target Circle, started last April in Dallas. Target Circle has steadily gained members and sales, so the company announced on Tuesday that itâs rolling out to five more cities.
Expanding Target Circle members gives the company data on about the 75% of its customers who donât shop with Redcard, Targetâs credit card that offers 5% back off all purchases. Target can then use that information to email tailored deals and promotions to customers.
For example, if Target knows a shopper frequently buys diapers and products for her baby, Target could email the customer an offer for diapers. Target can also offer customers deals on their birthdays.
âThis will help Target build a more complete picture of shoppers,â said Neil Saunders, managing director at GlobalData Retail.
Target Circle will now be available in Charlotte, Denver, Indianapolis, Kansas City and Phoenix. It offers customers a handful of perks. They include: 1% back on every purchase that shoppers can redeem on following Target shopping trips; free next-day delivery on household essentials; and 50% off a first-year membership for Shipt, Targetâs $99-a-year same-day delivery service.
âIt gives customers a little incentive to go to Target,â said Saunders. In the ultra-competitive retail market, Target Circle is valuable for the company, he added.
The program replaced Cartwheel Perks, a points-based loyalty pilot, which Target ended in 2017. Target says Redcard cardholders are signing up for Circle, but they are not eligible for the programâs additional 1% back.
Target joins several competitors that are also revamping loyalty and rewards programs. Retailers recognize that they need new tools to reward customersâ spending and encourage them to keep returning.
Last year, Nordstrom, Macyâs, DSW, Kohlâs, Lululemon and J Crew either launched new loyalty programs or significantly changed their existing programs. Some, like Nordstrom, offer tiered memberships based on customersâ spending. But even âNordy Clubâ members who spend less than $500 a year get free basic alterations and early access to new clothing brand launches.
Lululemon announced in December that itâs testing its first annual membership program for $128 a year. Perks include free access to workout classes and a pair of pants or shorts.
âItâs clear that we can take [customer] relationships to the next level with the loyalty program,â said Lululemon CEO Calvin McDonald.
from FOX 4 Kansas City WDAF-TV | News, Weather, Sports https://fox4kc.com/2019/02/05/target-expands-its-loyalty-program-its-about-the-data/
from Kansas City Happenings https://kansascityhappenings.wordpress.com/2019/02/05/target-expands-its-loyalty-program-its-about-the-data/
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How to Turn Customer Loyalty Programs into Love
âLoyalty programs increasingly need to have flexibility. In other words, it canât just be âBuy ten get one free,â at a coffee shop anymore. Stores themselves are starting to have to get creative with what loyalty means to them and giving the customers choice in what those rewards are.â â Nicole Leinbach Reyhle, Founder, @RetailMinded
Making the loyalty program more personal
Itâs no secret that loyalty is the sweet spot. For Wakefern Foods, 97% of sales are powered by customers enrolled in their loyalty programs. But while rewards and incentives have long been a direct path to purchase, a loyalty program is far more than the sum of its discounts. Itâs one of the best opportunities to deepen a customerâs relationship with the brand.
When a retailer breaks free from the punch card, they can evolve their loyalty program to be much more pertinent and valuable for the customer:
How can retailers create personal loyalty programs?
Each customerâs experience of their favorite brand is unique, and loyalty programs should reflect that by personalizing the interaction. They canât just be transaction-based. They should appeal to consumers with information and rewards that cater to their lives as individuals, helping them connect with the brand on an emotional level. With the Nordstrom app, loyalty customers add items to a wish list for later fulfillment. When theyâre in close proximity to a store, they receive an alert encouraging them to drop by and (ideally) purchase these wish list itemsâa simple exchange, but one without the feel of a blind promotion.
With rapid advances in artificial intelligence, retailers are well equipped to personalize each engagement within a loyalty program. This data gives sales associates an intimate picture of their customers, so they can approach them more as friends and less as a mere transaction. Here are just a handful of the telling data points:
Which items and which styles has a customer repeatedly gravitated to?
Is there a certain type of product they frequently explore but never quite commit to buying?
If theyâre in the midst of travel, which items might be suited to the location or the nature of the trip?
What interests do they have that might enrich how a brand talks to them?
A loyalty app can seize on chances to interact with the customer as they walk through the store, giving them the ability to scan items for real-time rewards, checkout in-aisle, or even track a productâs origin and sustainability.
âCreating that loyal customer base means connecting the dots between the supply chain, commerce and marketing teams to optimize customer experience. Â AI can help bridge these sometimes difficult connections, while also automating more of the process.â â Melissa Tetoris, Executive Strategist â Cognitive Solutions, IBM
How do retailers provide value beyond their products?
Loyalty programs help retailers show theyâre committed to improving a customerâs overall quality of life. Dominoâs, among others, has seen positive results from gamifying the rewards experience for customers. âPiece of the Pie Pursuitâ is a mobile game in which their loyalty customers take on different challenges and earn their way to a free pizza. Itâs an engagement strategy that makes perfect sense because it mimics what users are already doing on mobile every day.
Cash rewards, freebies and discounts will always be well received. But with the help of data-driven insights around customers and their preferences, retailers stand to benefit from exploring other measurable actions to reward loyalty as well. Here are some places rewards could go:
Philanthropic contributions that are in tune with a customerâs valuesâsomething both LâOreal and DSW have explored
Support for personal goals or projects, such as new skill acquisition or health and exercise regimens
Time âgiven backâ to a customerâs day, whether through a wellness app, a service like Audible, or even in-store yoga classes with Lululemon
Entertainment in the form of free concert tickets (specifically to usersâ favorite music acts)
Partnering with businesses in other industries is proving to be a sharp way to redefine loyalty. Members of the Target Red loyalty program in Dallas enjoy 50% off their first year of a Shipt membership, complete with same-day delivery. The Uber Visa card gives members a subscription credit for streaming services and access to exclusive events around the country.
Retailers can prove their purpose with loyalty programs
As the backbone of the customer relationship, loyalty programs can evolve in lockstep with every point of the omnichannel experience. But as retailers expand loyalty to connect with other focuses in a consumerâs lifeâmedia consumption, philanthropic efforts, travel, wellness and self-improvement, sports and entertainmentâloyalty grows into one of the most powerful tools a brand has to show what theyâre about.
If brands can tap into the bigger passions that consumers hold dear, they can give them meaningful opportunities for self-expression. In effect, loyalty to the brand becomes loyalty to who you are.
Want to dive deeper into identifying your customerâs journey to help build loyalty and engagement? Register for our webinar with Nicole Rehyle and Melissa Tatoris where weâll cover:
How retailers can react to different behaviors and create connected omni-channel experiences
How to create a retail brand that connects with customers on an authentic and personal value level.
How AI can help unify previously isolated Supply Chain, Commerce and Marketing functions, resulting in the creation of a seamless commerce engine and a customer driven supply chain.
How to leverage customer data, encourage social sharing and create specific and dynamic campaigns focused on post-purchase customer engagement.
View the replay.
 The post How to Turn Customer Loyalty Programs into Love appeared first on Watson Customer Engagement.
from personivt2c https://www.ibm.com/blogs/watson-customer-engagement/2018/10/12/customer-loyalty/ via http://www.rssmix.com/
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