NextGen Loyalty platform
- #project management
- #product management
Business Goals
Business Goals
Bank wants to organise discounts independently offered by different products into a common strategy, reduce client attrition, grow revenues and increase customer satisfaction.
Solutions
A new loyalty program is developed, where the value of the client to the bank is based on CLTV of all products used by the client. A new financial model calculates current and potential CLTV. Each level of CLTV corresponds to the respective loyalty tier. Personalisation algorithms suggest the next best offer and gamification mechanics to grow revenues.
Value Delivered
Instead of individual product loyalty budgets we created a pool of reserves to fund personalised product bundles offered at different levels (Bronze, Silver, Gold, Platinum). Customer satisfaction and attrition is improved by introduction of tier- based product bundles driven by customer CLTV and gamification elements.