The Challenge:

MBNA, now Bank of America, came to Kobie with a challenge: develop a customer retention and loyalty program for a cardholder base with customers whose affinity and co-brand relationship no longer exists.

The Solution:

Kobie devised a solution - The Bank of America Perks Advantage Program that:

• Provides multiple ways to earn points

• Includes a wide range of rewards tailored to members' interests

• Includes targeted statement inserts and promotions that drive program engagement and customer loyalty and retention

• Incorporate Bonus Points from program travel partners

Kobie developed a customer loyalty and retention program that met diverse members' interests and drove retention but with low program costs.

The Result:

The customer retention strateies and program implementation have exceeded expectations. By introducing statement inserts; member-tailored rewards; and a flexible Bonus Points program, the Perks Advantage Program really delivers perks to members. Now, seven years later and under the Bank of America umbrella, these previously ‘orphaned’ cardholders are excited about the Perks Advantage program and consistently display a high level of spend, engagement and retention.

For a FREE customer retention and loyalty program assessment, contact one of our customer loyalty and retention experts today.