situation
Our client is a leading Canadian financial institution with a significant international presence. They have a longstanding credit card loyalty program with rewards redemption. But in today’s competitive financial landscape, they needed to significantly boost their performance. The goal was to motivate their 200,000+ cardholders to increase their monthly spend, and strengthen both their engagement and loyalty to the bank.
solution
We knew that to achieve those aims, the program would need to offer cardholders greater flexibility and better value. Maritz developed a new technology platform, with the ability to measure, analyze and track campaign results…enabling us to make continuous improvements.
We worked to create a superior, consistent customer experience spanning web, IVR and telephone contact points by enhancing the new platform’s capabilities to support full Rewards Fulfillment services, a Points bank, Customer web site and Call Centre application; monthly E-mail blasts highlighting new offers and rewards and handling over 70,000 customer calls a year.
results
- The new platform gives card members both value and flexibility. They can redeem their reward points for a wide range of merchandise, travel, gift cards and vouchers
- They can interact with the program in different ways: by going online, by speaking to someone on the phone, or through an IVR system
- Maritz supplies the technology and expertise to process over 200,000 reward redemptions every year, with a value of over $63M
- The website receives more than 700,000 hits annually...a 30% increase over the past three years
- Card member retention has risen to 95%
- For our client, we are a trusted partner in building Loyalty...one with a deep and unique knowledge of their customers, and the ability to manage and execute the entire program efficiently and effectively on their behalf. We’ve also become a valuable advisor to the bank, as they plan new programs. As a result, they’ve just renewed their multi-year contract with Maritz. That is a strong endorsement of the value we represent to them...and their customers
