Case Study:

Loyalty Program Revitalization

Case Study:
Royalty Program Revitalization
bsc case study challenge

Client Challenge

The financial institution was looking to explore innovative methods to enhance and revamp its loyalty program to enable improved service across all market segments.

The core objective was to remain competitive within a fast-paced and rapidly evolving market. New entrants into this market and aggressive propositions from competitors justified the need for investment in revamping the program to ensure the institution remained the leader in the Banking Loyalty Program landscape in South Africa and minimize any potential threats to customer acquisition and retention.

bsc case study solution

The Solution

The BSC team began reviewing the existing loyalty program as well as internal data, and segment profiles.

This allowed the team to get an in-depth view of the existing program, its mechanics, and insight into market segments, their profiles, and their needs. Desktop research was conducted to gain insight into loyalty program trends locally and internationally, across various industries. Innovative, outside-the-box ideas were put forth. These were segmented into two parts:
  • The simplification of the existing rewards program, the associated platforms, and underlying rules and mechanics of operation.
  • Articulation of three new concepts to revamp the program, appealing to all market segments, with the aim of enhancing inclusivity and widespread appeal.
bsc case study value

Solution Value

The ideas were unique, attractive, and robust, allowing the financial institution to make agile and effective changes to their existing program whilst simultaneously actioning the more intricate and revolutionary ideas. The ideas were packaged into a presentation for executive approval to secure funds and resourcing for development and implementation.

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