{"id":33148,"date":"2022-07-22T16:34:29","date_gmt":"2022-07-22T16:34:29","guid":{"rendered":"https:\/\/staging.staging.multiplica.com\/?post_type=mx_noticias&p=33148"},"modified":"2022-07-22T16:34:29","modified_gmt":"2022-07-22T16:34:29","slug":"loyalty-and-lifetime-value-in-the-financial-industry","status":"publish","type":"news_post","link":"https:\/\/staging.multiplica.com\/en\/news\/loyalty-and-lifetime-value-in-the-financial-industry\/","title":{"rendered":"Loyalty and Lifetime Value in the financial industry"},"content":{"rendered":"

Multiplica is back at <\/span>OpenFinance<\/span><\/a> to talk about the relevance of generating loyalty strategies in the financial industry and the effect of increasing the Lifetime value of customers.\u00a0<\/span><\/h2>\n

In the most recent talk presented by OpenFinance, <\/span>Gerardo Sama<\/span><\/a>, Loyalty Global Head at Multiplica touched on a very relevant topic for the financial industry, delving into the various ways to extend the Lifetime Value of customers in the industry.<\/span><\/p>\n

Increasing LTV in the financial sector<\/span><\/h2>\n

To start the talk, Gerardo defined loyalty strategies as <\/span>all marketing actions aimed at current customers and directed towards building a more valuable and lasting relationship with them;<\/i><\/b> pointing out that these are not a core part of the product or service and that the company is not contractually obliged to offer them.<\/span><\/p>\n

There is evidence that acquiring a new customer is 5 times more expensive than retaining an existing one, and that selling something new is 12 times more feasible with an existing customer than with a new one.<\/span><\/p>\n

“Loyalty strategies are very measurable over time, and through simple tests you can easily know their effectiveness and they are usually very profitable by themselves”<\/em> Gerardo Sama, Global Loyalty Head at Multiplica.<\/span><\/p><\/blockquote>\n

Loyalty programs increase customer LTV<\/span><\/h2>\n

Gerardo was emphatic in commenting that loyalty actions carried out by a company contribute to the extension of the customer’s Lifetime Value, generating the following benefits:<\/span><\/p>\n

    \n
  • Higher NPS leads to early adoption of new customers<\/span><\/li>\n
  • Digital experiences and added services influence upsell, cross sell and recurrence of purchase<\/span><\/li>\n
  • affinity, engagement and customer satisfaction lead to a lower churn rate.<\/span><\/li>\n<\/ul>\n

    How to implement a loyalty strategy?\u00a0<\/span><\/h2>\n

    To close the talk, the speaker discussed the elements that must be considered for a loyalty program to be successful, pointing out that there must be an integrated strategy, in which the first step is to decide from a strategic approach the value-added elements of the loyalty program, evaluating what the competition does to define what will be the differentiating attributes of the plan, then a business model must be created in which KPI’s can be measured and compared with the investment to obtain the profitability of the program.<\/span><\/p>\n<\/div><\/div><\/div><\/div>","protected":false},"author":16,"template":"","tags":[],"class_list":["post-33148","news_post","type-news_post","status-publish","hentry"],"acf":{"post_type_knowledge_image_module_big":31380,"post_type_knowledge_image_module_small":31385,"post_type_knowledge_image_module_header":31375},"yoast_head":"\nLoyalty and Lifetime Value in the financial industry - Multiplica<\/title>\n<meta name=\"description\" content=\"Multiplica talks about the relevance of generating loyalty strategies in the financial industry and the effect of increasing the Lifetime value of customers.\u00a0\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Loyalty and Lifetime Value in the financial industry - 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