DCR Strategies’ Favourite Payment Industry Posts of October 2017

industry posts

Here are some of our favourite payment industry posts for the month of October.

What Customers Want In A Loyalty Program
Creating, launching, and maintaining a customer loyalty program can be difficult, especially if you don’t know what your customers actually want. Don’t worry, we’ve got you covered. We’ve compiled a list of customer loyalty stats in a handy infographic so you can make sure your customers are happy and stay loyal to your brand.

5 Reasons Why Your Business Needs A Mobile App For The Holiday Rush
Despite the massive rise in mobile app use, many online retailers question if they even need an app, especially if they already have a website that is optimized for mobile. These retailers are mistaken. When it comes to mobile, although a website is a good tool for new customer acquisition, apps are the best way to increase customer retention, and this is where the real money is. Compared to mobile web, apps deliver 2x higher customer retention rates, 3x higher conversion rates, and 39% higher average order values. A successful app will increase the rate of recurring customers and, thus, increase the revenue per customer, offering a long-term opportunity for profitability. Put simply, mobile apps offer the best way to retain and communicate with customers.

Be The Boss: Celebrate Boss’s Day With These Tips On Employee Incentives
Boss’s Day is a day for employees to recognize the bosses and supervisors in their workplace that are kind, fair, supportive, and true leaders. Many employees take this time to give their bosses cards, gift certificates, flowers, or meals. If you’re a boss or in a management position, how can you make sure you keep your employees happy? See here for some tips!

Consumers Want A Mobile Loyalty Program, 2017 Survey Shows
In 2017, 57% of retail marketers plan to increase spending on their loyalty programs. However, according to research by retail industry analyst EKN, overall active member rates for loyalty programs dropped 2% from 2013 to 2015. In order to succeed, it is important that customers actually get a loyalty program they want. So what DO the customers want? The answer is a mobile loyalty program.

5 Technology Tips Your Ecommerce Business Needs For The Holiday Season
Is your Ecommerce business ready for the holiday rush? Black Friday is right around the corner, and optimizing your online business plan for the holiday season make can make all the difference in the world. According to First Data Corp., which analyzed point-of-sale data at nearly one million merchants, in 2016 E-commerce accounted for 25% of all consumer spending on Black Friday and the two days prior, up from 18% the previous year, and nearly double the figure for the same period four years ago. The E-commerce share for all holiday retail sales in 2016 was 10% of the entire market, for a total of approximately $88.5 billion.

Cheques Rank Last For Satisfaction Among All Payment Methods, New Survey Shows
Cheques need to “cheque-out,” according to a new survey on payment methods. The PYMNTS Disbursement Satisfaction Index measures consumer satisfaction across payment methods. The report surveyed 2,528 consumers in Q2 2017 and examined disbursements in the form of cash, cheque, direct deposit, instant credit pushed to a card, and non-instant credit pushed to a card. Finishing dead last in the report, and by a wide margin, was payment via cheque, which ranked only 4.4 out of 100.

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