MarketResearchReports.Biz announces addition of new report “2020 Foresight Report: Retail Bank Loyalty Programs” to its database
Albany, NY -- (SBWIRE) -- 07/05/2013 -- The report provides market analysis, information and insights into retail bank loyalty programs:
Provides a global snapshot of loyalty programs adopted by retail banks in developing and developed economies in the banking industry
Analysis of retail bank loyalty programs trends and drivers and key operational opportunities and challenges faced
Detailed analysis of loyalty program product and marketing strategies globally
Analysis of loyalty program customer targeting and marketing strategies adopted by leading retail banks operating in various markets
To check out the Complete table of contents, visit: http://www.marketresearchreports.biz/analysis-details/2020-foresight-report-retail-bank-loyalty-programs
Loyalty programs have emerged as one of the key marketing tools in the global retail banking industry. Retail banks offer a number of loyalty programs in developed economies, however many of these are commoditized. This has compelled banks to introduce innovative programs in order to remain both competitive and profitable.
There is also an increased pressure on costs due to new regulatory trends in last five years. Loyalty programs are being viewed as an important revenue-driving tool and have been proven to reduce customer acquisition costs. Retail banking in emerging economies is still in its developmental stages, as illustrated by its relatively low loyalty program penetration rates.
Traditionally, banks and other card issuers have offered reward programs based on a customer income level and demographic profile. Banks are now segmenting customers based on their lifestyle choices and purchasing behavior. The use of analytical tools to better understand consumer spending patterns and offer personalized reward programs has increased in terms of adoption rates. The approach allows card issuers to launch customized rather than blanket programs to all customers.
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This approach also helps to target and isolate the most profitable customers and phase out the programs that do not offer significant value to a bank's overall business. Moreover, analytics are enabling banks to provide location-based, real-time discounts in collaboration with merchants. The successful implementation of analytic-based reward programs has become a key differentiating factor for banks.
This report provides a comprehensive analysis of marketing strategies adopted by retail banks to offer loyalty programs in developed and developing economies
It details trends and drivers of retail bank loyalty programs
It details various benefits available to and challenges faced by retail banks while offering loyalty programs
It details the customer targeting strategies adopted by retail banks to offer their loyalty programs across the globe
It provides case studies on retail bank loyalty programs and marketing strategies implemented by various retail banks and their outcomes
To Buy The Copy of This Report Visit: http://www.marketresearchreports.biz/analysis/170148
Reasons to buy
Understand the dynamics of the retail bank loyalty programs landscape across the key markets worldwide
Assess the current and future opportunities of loyalty programs in the retail banking industry
Gain insights into the loyalty program marketing strategies adopted by retail banks.
Gain insight into various challenges faced by retail banks in offering loyalty programs and key marketing and product strategies across all the key markets
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