mastering customer loyalty in the open banking era...mastering customer loyalty in the open banking...
TRANSCRIPT
MASTERING CUSTOMER LOYALTY IN THE
OPEN BANKING ERA
Andreas MarnerisHead of Loyalty Programs
WHAT IS OPEN BANKING?
Wh
at is op
en b
ankin
g?
Wh
at is op
en b
ankin
g?KEY FACTORSin the Open Bank Era
Wh
at is op
en b
ankin
g?
01.Bank Image
Wh
at is op
en b
ankin
g?
02.Trust
Wh
at is op
en b
ankin
g?
03.Prices
Wh
at is op
en b
ankin
g?
04.Switching Cost
Wh
at is op
en b
ankin
g?
05.Customer Satisfaction
Wh
at is op
en b
ankin
g?
06.Service Quality
Wh
at is op
en b
ankin
g?
07.Value Adding Services
PRIME EXAMPLE:LOYALTY PROGRAMS
WHY?
Wh
y?
It is an ECOSYSTEMthat challengers cannot replicate or will need time to build
Wh
y?
01.
Reward Everyday Transactions
Wh
y?
02.
Special offers / promotions from participating merchants
Wh
y?
03.
Deposits
Group Sales Account
New ProductAcquisition
“Anchor” product for developing core banking
relationships
PROGRAM DESIGN ELEMENTS
Pro
gram D
esign Elem
ents
01.Timing of Benefit
Pro
gram D
esign Elem
ents
02.Type of Benefit
Pro
gram D
esign Elem
ents
03.Perceived Benefit
Recognition
PILLARSOF SUCCESS
Pillars o
f Success
01.Simplicity
Pillars o
f Success
02.Transparency
Pillars o
f Success
03.Personalization
Pillars o
f Success
04.Ease of use
Pillars o
f Success
05.Emotions
€PISTROFIPRESENTATION
€p
istrofi P
resentatio
n
€pistrofi
€PISTROFIis the most distinguished loyalty program in Greece,
with over 8.500 participating merchantsthat rewards in real €pistrofi euros
€p
istrofi P
resentatio
n
€pistrofi
30
€pistrofi is internationally acknowledged, as one of the
best loyalty programs worldwide
All Eurobank Credit – and all Debit – cards participate in €pistrofi
WIN-WIN-WIN APPROACH
Win
–W
in -
Win
Ap
pro
ach
Win-Win-Win Approach
Customer
MerchantBank
€pistrofi
€PISTROFISTRENGTHS
€p
istrofi Stren
gths
01.Simplicity
No registration Euros earned at customer level, independent of number
of cards
Real time collection -redemption
€ €
02.Transparency
€p
istrofi Stren
gths
Only loyalty program to reward in real euros (not points or vouchers or gifts)
02.Transparency
€p
istrofi Stren
gths
Multiple points of information
03.Personalization
€p
istrofi Stren
gths
Data is key Know Your Customer at each lifecycle
04.Ease of use
€p
istrofi Stren
gths
Instant collection / redemption in over 8.500
merchants in Greece
Partial or full redemption at any purchase, without
restrictions / conditions
05.Emotions
€p
istrofi Stren
gths
Rewards all transactions from simple day-to-day purchases to the most luxurious impulses, enhancing
customers need for recognition & reward
EVERYDAY LIFE COVERED
Everyday life co
vered
Indicative areas
Supermarkets Gas Stations Technology Airlines
Everyday life co
vered
Indicative areas
Clothing / Homeware / Cosmetics Kids Leisure Hotels /Restaurants
NUCLEAR WEAPON:€PISTROFI MOBILE APP
Nu
clear Weap
on
:€p
istrofiM
ob
ile Ap
p
€pistrofi Mobile App
Features of success in amobile-first environment :- Messaging- Content- Personalization- Location- Analytics- Campaigning- Gamification
Nu
clear Weap
on
:€p
istrofiM
ob
ile Ap
p
€pistrofi Μobile App
€PISTROFI MOBILE APP IS
in downloads amongst all Greek loyalty programs
No1
Nu
clear Weap
on
:€p
istrofiM
ob
ile Ap
p
Nu
clear Weap
on
:€p
istrofiM
ob
ile Ap
p
Campaigning
Partner Couponing Poll CRM CampaignMember-get-Member
Nu
clear Weap
on
:€p
istrofiM
ob
ile Ap
p
Value Adding Services
Book Your Tickets Gamification eCoupons
Nu
clear Weap
on
:€p
istrofiM
ob
ile Ap
p
Mobile App Key Data 360k
MO
RE
THA
N
UNIQUE USERS
of total turnover 40%
of total redemptions 37%
PERFECTCATCH
Thank you