By Jacqui Chin
A recent survey of 143 large US companies revealed that only 17
percent of businesses earned a strong (or better) loyalty rating from their
None of these were
credit card companies.
This Lafferty Group report is an essential tool for all types of
businesses looking to gain customer loyalty through credit cards; whether a
bank or an industry player such as a retailer, airline or coalition rewards
It will provide you with the insight you need to help formulate
your strategy for the future and uncover new credit card business models to
earn customer loyalty.
The Power of Points and
can credit card businesses regain profitability?
issuers abandon credit cards and focus instead on other financial products like
debit or prepaid cards, which seem more “right for the times”?
non-financial industry players invest instead in ways of engaging customers
unrelated to credit cards, such as coalition rewards?
it better for credit card businesses to focus on interest rates and annual
fees, and move away from “too expensive rewards”?
The Power of Points and
you to put aside the question of “How can I get my customers to spend and
revolve more?” and instead focus on how you can recognise and reward your loyal
customers. Earn customer loyalty and you will be top of their wallet, gaining
spend 300-450 percent of the average.
We look at the experiences of over 60 companies across over 80
case studies to highlight the importance of why understanding your customers
goes beyond thinking about them as revolvers or transactors, subprime or super
affluent and instead uses a personalised, customer-centric engagement approach.
We explore how rewards motivate customers and why new partnership
models are critical to deliver compelling and sustainable rewards.
In the coming years a credit card business will hit the top twenty
list for highest customer loyalty rating. It could be your business. If so, it
will be through harnessing The Power of Points and Partners.
About the author
Building new consumer
loyalty businesses with corporate partners is the core of Jacqui’s expertise,
developed in over 17 years with American Express and Shell International.
As vice president of international partnerships at American
Express (2007 to 2011), Jacqui created new consumer co-branded card
partnerships with blue chip companies such as BMW in Germany and David Jones in
Australia. She also developed new multi-market partnerships with companies such
as Amazon and Apple, in the American Express consumer loyalty programme
Membership Rewards. By focusing on strong partners outside of American Express’
traditional strength in travel and entertainment, Jacqui persistently
championed leveraging core skills and capabilities in new areas.
Prior to joining American Express Jacqui spent 13 years with Shell
International. As the global CEO of Shell Credit Cards she initiated and
developed Shell’s global co-branded credit card business, taking it from an
idea to a flourishing business operating in Europe (East, West and Nordics) and
Asia. Jacqui also led the creation of the first customer relationship
management approach for corporate fuel card customers across more than 25
markets, during her time as Shell Fuel Card global marketing and strategy
Release date: August 2011
About Lafferty Group
Lafferty Group is a
major provider of advanced knowledge services for the financial industry
worldwide, with particular specialisations in the fields of retail banking,
cards & payments and central banking.