LOYALTY PROGRAM CASE STUDY
PNC, a large regional banking franchise with nearly 3,000 branches was interested in having a loyalty program for high-net worth clientele. The bank enlisted Kennedy Creative to help build their loyalty program using the lowest spend possible.
- Customer and brand experience research gave insight into perception of bank and service quality.
- A focused program was developed using client’s parameters for budget and implementation.
- The loyalty measurement programs tied to business objectives enabled ongoing evaluation and optimization.
Market research identified several service related subjects to address and query with a focus customer group. Based on this analysis, Kennedy Creative designed a comprehensive direct mail program to determine service preferences and features desired by a high net-worth audience. Loyalty rewards ranged from high cost giveaways to letters hand signed by VPs. The pilot program was very well received and rolled out company wide. The analytics showed exactly how to talk to these customers and what incentives moved them to action and the client was very satisfied with a staggering 67% response rate and 8% improvement in retention.