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Loyalty Newswire
May 06, 2024

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By: Wise Marketer Staff |

Posted on May 6, 2024

This Week's News

Ask people, “How was your weekend?” and they will often tell you that it passed by quickly. This past weekend held true to that statement and was one of the speediest ever.

On Saturday, Louisville, Kentucky, swelled with people in celebration of the 150th Kentucky Derby. A horse named Mystik Dan won the race in a photo finish among three horses. The race was the first to be won by a nose in 28 years, so the performance lived up to the moment.

On Sunday, Formula 1 racing came to Miami, Florida and the Miami Grand Prix was a show indeed. We heard from a race “insider” after last year’s event that Miami is more about the show than the race. Judging by the atmosphere and the crowd, which could be true, the race was exciting as a British driver, Lando Norris, won his first Formula One race in a McLaren.

Your loyalty program should bring excitement and speed to its members as well. Remember the importance of earning velocity to keeping members engaged and don’t ever forget that loyalty experience for your members should bring joy and excitement into their lives.

Stay. Loyal. Always.

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Here’s a Speedy Roundup of this week's Loyalty and Digital Marketing News

CRMC, IHG, Ironmark, Salesforce, Snipp, Visa, United in the news. Gen Z insights, the future of POS payments, and the Top 100 business trends for May.

CRMC Conference takes center stage

The 2024 CRMC Retail Conference is kicking off in Chicago two weeks from today. The event is a true highlight on any marketer’s calendar and runs from Monday, 20 May – Wednesday, 22 May, hosted at the Chicago Hilton. If you have not registered, it is not too late. Check out the agenda here and you’ll see the quality of presenters on tap. A few sponsorships remain and you can find that information here. Above all, make sure to register and attend to join in some fantastic networking and get some business done.

The Wise Marketer will be on site as a Media Partner and will be doing brand interviews throughout. If you are interested in snagging an interview spot, look for our signage and we’ll do our best to fit you in. See you in Chicago!

IRONMARK Makes Dual Acquisition

Ironmark announced two acquisitions that strengthened its portfolio of marketing services with a combination of technology, security, and best-in-class expertise. This significant milestone brought Deliver Media, based in Tampa, Florida, and L&D Mail Masters, based in Indiana, into the portfolio.

Deliver Media uses first-party data and third-party data with predictive analytics powered by machine learning to launch dynamic multi-channel marketing campaigns. L & D Mail Masters, based in New Albany, IN, is a leader in secure data management and direct mail production. You can read the full press release with more details here.

Visa and J.P. Morgan Payments collaborate to enable faster domestic payments

Visa and J.P. Morgan Payments said they have entered into a strategic collaboration to boost merchant experiences and help cardholders through the introduction of faster domestic payments in the U.S., via the Visa Direct network. Through the help of Visa Direct’s extensive reach in the U.S., J.P. Morgan Payments will help merchants, businesses and fintech to embed faster domestic payments into their solutions.

The solutions include the Push to Card payment rail, which enables fast and secure movement of funds directly to recipients’ bank accounts and digital accounts by leveraging the debit card credential. Full press release here.

United Airlines has transformed the concept and value of its FFP

This insightful article from simpleflying explains how the concept of the original airline loyalty program has been completely transformed into something that no one could have originally imagined. Today, major loyalty programs, such as Delta Air Lines' SkyMiles program or United's MileagePlus program, are multi-billion-dollar organizations that are impressive businesses in their own right.

The article highlights United Airlines' MileagePlus as an illustrative case study of exactly how these loyalty programs have become so valuable over time. The article takes a deeper look at how United turned its loyalty program into such a valuable financial asset. The Loyalty Academy™ course #105 Introduction to Loyalty Financial Modeling provides detail on how to position your loyalty program as a financial asset that the C-Suite cannot ignore. This article provides valuable details on this idea.

IHG Hotels & Resorts Aims to Boost Guest Loyalty with Salesforce

In late April, Salesforce announced an expanded relationship with IHG Hotels & Resorts, one of the world’s leading hotel companies with more than 6,000 hotels across 19 global brands, to drive guest loyalty through its IHG One Rewards program.

The press release states that customer expectations are changing, with 65% of consumers saying they will remain loyal to companies that offer more personalized experiences. To meet these expectations, IHG is standardizing its CRM on the Einstein 1 Platform, which brings CRM, AI, data, and trust on a single, unified platform to drive customer loyalty, more tailored guest experiences, and greater efficiencies.

Snipp Signs Two-Year Agreement with Leading Colombian Loyalty Marketing Company

Snipp Interactive Inc., an international provider of marketing promotions, rebates, and loyalty solutions listed on the OTCQX and the TSX Venture Exchange, announced it has signed a two-year Master Services Agreement (MSA) with Quantum Colombia SAS, a leading mobile loyalty and engagement company based in Colombia.

The contract will focus on using all of Snipp's engagement solutions, including its proprietary SnippCheck receipt processing platform, to validate and reward customers for their purchase activities in the Colombian market. Press release here.

TikTok is wiring Gen Z brains with a new perspective on money and personal finance

According to the Pew Research Center, more than half of all U.S. adults ages 18 to 34 use TikTok, while about a third of those 29 and under say they regularly get news on TikTok, up from less than 10% in 2020. As a result, the generation is shaping its views on money there too – forming perspectives on how they spend, save, and look at the future.

This article from the Wall Street Journal poses the question “So, what happens when your main source of news tells you that no one in your generation will be able to buy a house, food prices are spinning out of control and credit-card debt is unavoidable—but also that $2,500 Louis Vuitton bags and $70 moisturizers are, as many videos say, “a must”? For marketers seeking to connect with this demographic, this article provides a stunning view into the current thinking of the generation.

This report from Trendhunter highlights the top 100 trends in Business in May 2024. The article posits that two pivotal shifts stand out, reshaping how companies approach the market and consumer engagement. The report highlights the importance of recognizing and responding to individual consumer preferences to fosters deeper brand loyalty and engagement. That’s right in the wheelhouse for everyone in Loyalty Marketing who is talking about delivering “personalization at scale.”

Widespread adoption of AI and blockchain technologies plus specialization and niche targeting are the two macro trends that glean from the larger list. The application of AI to marketing solutions shows how consumer interactions will be managed in the future as brands respond to the growing consumer demand for high-tech solutions that simplify and safeguard daily activities. Specialization in this case means that companies are increasingly focusing on niche markets, offering specialized products designed to meet specific consumer needs.

Digital wallets will approach half of POS transaction value share by 2027

According to this report from eMarketer, Digital wallets will be the only payment type to increase its share of worldwide point-of-sale transaction value between 2023 and 2027, making up 46% of total value by the end of that time period, according to the Global Payments Report 2024 from Worldpay. Both credit and debit cards are forecasted to decline by significant numbers. Cash transactions will land at about 11% by 2027 according to this forecast.

Over half (56.9%) of the US population will use digital wallets this year according to this report, totaling 161.6 million users. Apple Wallet was found to be the most popular digital wallet, used by nearly half (49.0%) of all mobile wallet users in the US, followed by Google Wallet (30.1%) and Samsung Wallet (12.9%).

Worldpay introduces Tap to Pay on iPhone

Payment facilitators working with the Worldpay® PayFac™ suite of services to operate their payment services can now enable Tap to Pay on iPhone for their merchants. Two PayFac partners, Fullsteam and Autobooks, have launched the new service from Worldpay, which allows their merchants to use an iPhone to securely accept contactless payments, including contactless credit and debit cards, Apple Pay, and other digital wallets.

According to the 2024 Global Payments Report from Worldpay, 86% of all transaction value at the point-of-sale will be conducted by either digital wallets or credit and debit cards by 2027 globally. As retailers, field service workers, salons, healthcare professionals, and other business managers look to expand the payment options they offer to include digital wallets and contactless credit and debit cards, Tap to Pay on iPhone can make it easier to meet this rising consumer demand.

Short Takes

Stay. Loyal. Always.

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