A More Profitable Direction | Collinson Latitude

A more profitable direction

Saturday, February 1, 2014 BACK TO INSIGHTS

Retail banks commonly offer reward programmes to their customers alongside their traditional offerings, however they can sometimes get it wrong. Therefore, how do you make sure that your retail bank loyalty programme is providing value to for you rather than harming profits and customer relationships?

There are different approaches to a retail bank loyalty programme, so you need to make sure it’s the right one. Many programmes tend to partner with an existing currency, such as airline frequent flyer programme, to give their members a small incentive for their loyalty. However, a bank loyalty programmes is capable of providing both you and your members with so much more. Offering your members a programme with a wide variety of rewards that are available and affordable will ensure you have a valuable loyalty programme.

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