In light of ever-higher customer expectations and higher churn rates, it's imperative for financial institutions to devise a strategic approach to effectively engaging and retaining their customers.
As a result, financial institutions are increasingly adopting customer engagement strategies to grow customer satisfaction and increase retention. Customer engagement programs are designed to help customers become more connected to a bank, inspiring more loyalty and encouraging them to become advocates for the bank brand.
Cashback / shopping rewards programs are one way banks can increase customer engagement, by delivering positive and consistent experiences that help customers shop smarter and save money.
Below, get the details of the benefits of cashback rewards to both the customer experience, as well as the bank's bottom line. (click to download the full-resolution infographic.)