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Saturday, December 9, 2023

Transformative Approaches to Enhance Customer Loyalty: A Guide for Banks in the UAE

In the rapidly evolving landscape of customer engagement, driven by technological advancements and heightened accessibility, businesses must adopt innovative strategies to ensure profitability, differentiation, and enhanced customer satisfaction.

Omnichannel Preference in the UAE

As consumers in the UAE become more discerning amidst a plethora of loyalty programs, companies must move beyond traditional offerings to meet specific, in-the-moment needs seamlessly. Research indicates that 58% of UAE consumers prefer an omnichannel customer experience, signaling a shift in expectations.

Redefining Loyalty for Banks

For banks, a strategic imperative involves establishing a single customer view and creating a unified loyalty program. Loyalty should extend beyond conventional boundaries, transforming into a comprehensive ecosystem that encompasses the entirety of the bank’s offerings.

Understanding Consumer Behavior: Customer Loyalty

Delving deep into customer behavior reveals that purpose, community, and sustainability are increasingly influential factors. A successful customer engagement strategy aligns with the bank’s values, positioning it as a central player in customers’ financial experiences.

Collaboration with Collinson

Collinson, a global leader in travel experiences, loyalty, and customer engagement solutions, partners with leading banks worldwide, such as First Abu Dhabi Bank, Raiffeisen Bank, Alpha Bank, Saudi National Bank, and Network International. With over 35 years of experience, Collinson focuses on providing meaningful travel experiences and fostering increased customer loyalty.

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