Account more expensive,
customers more loyal:
This is how banking works.
Fees up, customer loyalty too.
One of Germany's largest banks with an annual turnover of over 25 billion euros commissioned us with a value-added service project for accounts and credit cards. The objective was to successfully implement a fee increase for accounts and cards and at the same time to intensify customer loyalty.
Challenges
- Justification for increasing account and card fees at a national bank
- Increase in card usage
- Long-term customer loyalty
Strategy
- Upgrading and emotionalizing accounts and credit cards by integrating relevant value-added services for product differentiation and segmentation
- Two account models and one credit card were enriched with activating and bank-related value-added services
Measures
- Linking the offer to highly relevant value-added services:
- Travel service with 6% or 3% cashback
- Emergency cash
- Cash insurance
- Communication via own website, campaign in print, online, branches and direct
Success
- Increase customer loyalty
- Increase card usage
- Increase willingness to pay
- Increase competitive differentiation
Conclusion:
four times in front with simple value-added integration.
The bank was able to achieve what at first glance seemed "incompatible". The increase in fees for accounts and cards could not only be implemented without customer churn, but customer loyalty and card usage were intensified at the same time. The key: data-based and highly relevant value-added services.
Do you need a customized banking or finance value-added solution?
Talk to me.
Talk to Sören Timm:
He is Head of Sales at Mehrwerk, and that means as much as Head of ExactlyTheSolutionYouNeed.
All completely non-binding. But immediately solution-oriented.
Making
the difference
