3 lessons learned from Amazon Prime program

first_imgAmazon celebrated 20 years of business this July with “Prime Day”. This one-day sales event has been touted to offer shopping discounts to rival those of Black Friday. The only criteria needed to participate in this event — you must be an Amazon Prime member. For a $99 annual fee, Prime members enjoy expedited shipping, unlimited streaming of movies, TV and music, free e books, cloud storage and early access to special shopping events. While loyalty/reward programs have been around a while, Amazon Prime is probably one of the best, and could be considered the template for creating the ultimate loyalty program for credit unions.Here are 3 Amazon Prime program features to consider when creating a credit union member loyalty program.DataAmazon is successful at building incredibly detailed profiles on its users. This data not only comes from static information, such as age and where they live, but their purchase behavior and preferred delivery channel. Currently, credit unions have this information and more. Credit unions typically collect enough information to predict members’ needs for a new car, home, college tuition or retirement. With additional strategic insight and data analytics they could likely predict lifestyle changes, such as marriages, divorces and births of children.To fee or not feeYes, Amazon has a payment threshold. While part of the annual fee probably covers hard costs like two day shipping, they probably make it up in increased volume. What would your credit union like to see its members do more, and would they pay for it? One recommendation is offering a hassle-free credit card that should it ever be breeched, the credit union will personally transfer over recurring payments to a new card.Continually modify the programAmazon continues to test new ideas on its Prime members using the incredible amount of data they currently have on each member while also continuing to gather more. They also add new services based on consumer needs as well as purchases. What are members currently doing repetitively and what would your credit union offer them as a new service or offering? The most frequent payments members make monthly is to their cell phone provider. What could your credit union offer them that could reduce that cost? Is there a partnership that can be formed with cell phone providers that would give your members benefits for being a member of your credit union? The question here is, how to does your credit union carve out value like Amazon?The obvious criteria to building an Amazon-like loyalty program is to have access to member’s data. Luckily, you work for a credit union, and not just a retailer, so this information is at your fingertips!If you need any guidance on how to access, or leverage this data, feel free to reach me at [email protected] 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Anne Legg Anne Legg, founder and principal of THRIVETM Strategic Services THRIVE works with credit unions to develop transformational business strategies from their business insights to grow in a competitive, highly regulated … Web: https://www.anneleggthrive.com Detailslast_img read more

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I Sat Through That

first_imgIt is amazing what we will do when we are young.  Today I sit at home and look at people sitting in the snow, the sleet, or heavy rain for a football game and wonder how nuts they really are.  Then I think back to a day in late October in W. Lafayette when I watched Purdue and Iowa play in a driving rain storm when the temperature dropped from 50 at game time to 35 in the 4th quarter.  That made more sense now than the day I went to the “Ice Bowl” in Cincinnati for the playoff game between San Diego and the Bengals.  I must not have learned much in that span of 15 years.  Things were so cold that day that a lady in front in me pulled out her whiskey flask at half time and found ice instead of the liquor she was anticipating.  That wasn’t as bad as the poor guy in the restroom who was trying to go to the bathroom with 4 layers of clothes on.  Oh, by the way, I forgot to tell you he had a broken arm!  He fortunately found a true Samaritan who undid his clothes so he could get the job done.  I only had on long underwear, regular slacks, and a hunter’s overalls on top of that.  I kept warm by loading my body with Wendy’s chili before the game!last_img read more

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Area Boys Basketball Scores (2-10)

first_imgArea Boys Basketball Scores.Friday  (2-10)Greenfield Central  50  Franklin Co.  45South Ripley  56     South Dearborn  47Hauser  81     Jac-Cen-Del  52South Decatur 110  Waldron 107 (2-OT)SW Hanover  67     Rising Sun  37Switz. County  55     Shawe Memorial  24last_img

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Bojan conjures up moment of magic

first_img With both sides showing four changes apiece, the first half had little going for it bar a handful of half chances as neither the Foxes’ Ben Hamer nor Stoke’s Asmir Begovic were ever truly tested. There was understandably industry and effort from two teams renowned for hard work and graft, but then this was never going to be a hand-warming classic on a crisp afternoon. Indeed, a near sell-out crowd had to wait 11 minutes for the opening effort following a tedious first 10 minutes. Even then it was an inadvertent one as an attempted clearance from Marc Muniesa to an Anthony Knockaert corner looped just wide of Begovic’s left-hand post. Four minutes later and Stoke had what proved to be their only chance on target in the first half with a 25-yard free kick from Marko Arnautovic comfortably scooped up by Hamer after Bojan had been fouled by Marcin Wasilewski. That challenge clearly counted against Wasilewski because in the 19th minute another poor tackle on Jonathan Walters resulted in referee Andre Marriner dishing out what proved to be his only yellow card of the game. Just before the half-hour mark some life was finally injected into the proceedings with the Foxes creating two chances inside a minute. Jeff Schlupp, pulled from African Nations Cup duty with Ghana earlier this month due to a knee injury but back in the City side on the day the competition began, was the architect of the first. Bojan Krkic brought Leicester’s mini-revival grinding to a halt with a moment of magic in an otherwise tame top-flight midlands derby clash. The Spaniard’s fourth goal of the season just after the hour proved decisive, ending the Foxes’ four-match unbeaten run and so ensuring Nigel Pearson’s side remain at the foot of the Barclays Premier League. For Mark Hughes’ Potters, after being thumped 3-0 at Arsenal a week ago, the 1-0 victory was the perfect tonic, particularly after losing skipper Ryan Shawcross to injury ahead of the game. last_img read more

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