A More Rewarding Banking Experience
When Kobie Created a Customer Loyalty and Retention Program for Bank of America, Customers Increased Participation and Spend
MBNA, now Bank of America, came to Kobie with a daunting assignment: develop a customer loyalty and retention program for a cardholder base with customers whose affinity and co-brand relationship no longer existed.
Kobie created an engaging new program, Bank of America Perks Advantage, that provides multiple ways to earn points, offers a wide range of rewards tailored to members’ interests, includes targeted statement inserts and promotions that drive program engagement and customer loyalty and retention, and incorporates Bonus Points from program travel partners.
With Perks Advantage, Kobie succeeded in developing a customer loyalty and retention program that met members’ diverse interests and drove retention with low program costs.
The customer retention strategies 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.