Maximising customer engagement to increase customer lifetime value (CLV)
Mastering Customer Engagement in Financial Services
Maximising customer engagement to increase customer lifetime value (CLV)
Mastering Customer Engagement in Financial Services
Maximising customer engagement to increase customer lifetime value (CLV)
Mastering Customer Engagement in Financial Services
For Raiffeisen Bank International, we incorporated sustainability by helping them develop a Carbon Footprint Tracker. The loyalty engine monitors the customer’s credit and debit transactions and other bank activities, translating them into carbon impact scores (e.g. ATM withdrawals generate higher emissions, while bank transfers have lower emissions). Each month, the tracker provides a carbon emission score, connects customers with eco-friendly brands, and lets them redeem points to plant trees, actively reducing their carbon impact.
Arun has chosen the loyalty points programme that best aligns with his values. As an advocate for sustainability, Arun appreciates the option to earn carbon offset credits whenever he shops with brands certified under the Verified Carbon Standard. These credits give Arun the power to offset emissions from his travel experiences and everyday purchases, letting him manage his carbon footprint.
Arun feels understood by your bank and your brand aligns with his purpose and values. You have given him compelling reasons to keep choosing your products.
For Raiffeisen Bank International, we incorporated sustainability by helping them develop a Carbon Footprint Tracker. The loyalty engine monitors the customer’s credit and debit transactions and other bank activities, translating them into carbon impact scores (e.g. ATM withdrawals generate higher emissions, while bank transfers have lower emissions). Each month, the tracker provides a carbon emission score, connects customers with eco-friendly brands, and lets them redeem points to plant trees, actively reducing their carbon impact.
Arun has chosen the loyalty points programme that best aligns with his values. As an advocate for sustainability, Arun appreciates the option to earn carbon offset credits whenever he shops with brands certified under the Verified Carbon Standard. These credits give Arun the power to offset emissions from his travel experiences and everyday purchases, letting him manage his carbon footprint.
Arun feels understood by your bank and your brand aligns with his purpose and values. You have given him compelling reasons to keep choosing your products.
How you engage with customers directly influences their decisions to buy and remain loyal. A superior customer experience is a strategic asset that drives engagement, retention, and growth among your most valuable clients, making it central to maximising CLV.
Maximising CLV requires understanding how to harness the right data and technology. For instance, a card issuer has the opportunity to gather extensive data: product preferences (e.g., rewards cards vs. cashback), buying patterns, frequency of use, transaction values, and engagement with rewards propositions. It includes response rates to communications, website visits, app usage, and more.
By integrating this data using advanced technology, organisations gain a single, comprehensive view of each customer, enabling informed decisions on the next best action. Through tailored journeys, driven by trigger-based and lifecycle communication, the ultimate objective is a highly personalised experience that enhances CLV.
At Collinson, we empower banks to go beyond conventional offerings by providing travel loyalty benefits and experiences that are both cost-effective and highly engaging. Our clients are already seeing success through solutions like SmartInsight, our expert-led loyalty management programmes, and insights from our data and loyalty specialists. Together, we can transform customer engagement and set new benchmarks for rewards and benefits.
How you engage with customers directly influences their decisions to buy and remain loyal. A superior customer experience is a strategic asset that drives engagement, retention, and growth among your most valuable clients, making it central to maximising CLV.
Maximising CLV requires understanding how to harness the right data and technology. For instance, a card issuer has the opportunity to gather extensive data: product preferences (e.g., rewards cards vs. cashback), buying patterns, frequency of use, transaction values, and engagement with rewards propositions. It includes response rates to communications, website visits, app usage, and more.
By integrating this data using advanced technology, organisations gain a single, comprehensive view of each customer, enabling informed decisions on the next best action. Through tailored journeys, driven by trigger-based and lifecycle communication, the ultimate objective is a highly personalised experience that enhances CLV.
At Collinson, we empower banks to go beyond conventional offerings by providing travel loyalty benefits and experiences that are both cost-effective and highly engaging. Our clients are already seeing success through solutions like SmartInsight, our expert-led loyalty management programmes, and insights from our data and loyalty specialists. Together, we can transform customer engagement and set new benchmarks for rewards and benefits.