1. Next-Generation Rewards: Changing the Consumer Engagement and Revenue Generation Paradigm
By Andrés Peña, VP of Alliance & Channel Development, Buzz Points
May 25, 2017

2. Technology Solutions come in two flavors:
Commoditized, traditional services
New generation of innovative, differentiating services

3. What’s my best customer experience anywhere?

4. The point of departure for addressing this new customer service expectation is technology

5. Commoditized, Traditional Services:
Can be dated and rigid
Don’t reinforce community focus
Lack integrated marking support
Fail to deliver on ROI promises
Not designed for millennials
High training and support costs
Do not enhance local brand
Fail to engage members

6. The new generation of technology services:
Context and Relevance
Instant Access to the benefits of being a member
Increased revenue and profitability
Ability to co-exist with the Commoditized, Traditional platforms

7. Let’s look at how these apply specifically to credit unions.

8. Context and Relevance

9. Instant access to the benefits of being a member

10. Increased revenue and profitability

11. Ability to co-exist with the commoditized, traditional platforms

12. How do you begin?
You look to the customer as your guide to innovation

13. Mobile check deposit and robo-tellers aren’t all the innovation you need.

14. Contextualized interactions

15. Seamless omni-channel experience—anywhere, any time

16. Transparency

17. Access to peer review and advocacy

18. Product innovation is driving loyalty programs today

19. Leveraging data analysis for customized experiences

20. Technology innovations for loyalty programs include:
Frictionless reward redemption, with cash back to consumers
Card-linked offers or redemptions at the moment of truth
In-the-moment service across channels: message, mobile, social

21. Innovative loyalty programs for CUs also:
Incentivize desired behavior
Gamify experiences
Prevent commoditization
Differentiate from mega-banks
Have an impact on every aspect of the Customer Lifecycle

22. Unique differentiator for CUs:
Local focus and community relationships

23. Loyalty programs can deepen community relationships

24. With the right loyalty program, the future is here:
CUs engage customers digitally
CUs generate additional non-interest income and deepen relationships with both customers and local businesses
CUs can open the door to more commercial account acquisitions
Reward customers for keeping money in their communities
Provide local businesses customized marketing support and increased sales from community members
Offer analytic insights for future business decision making

25. Any questions?