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BANKING
Understanding the Loyalty Programs in
Banking
Presented By:
   Dheeraj Meshram
   Kinnar Majithia
   Akankasha Sharma
    (P1053)
   Nishad Banodkar
   Nirav Doshi
   Ebrahim Noorani
Contents
   Structure of Loyalty
    Programs
   Reasons Behind
    Structure
   Program Execution
   Benefits
   Challenges Faced
   Promotional Activities
   Budget
   Database Marketing
STRUCTURE OF LOYALTY
    PROGRAM
   SBI
     FreedomRewardz    (Debit
     Card Plan)


   HDFC
     Divided  into 3 Programs
       1.   Classic
       2.   Preferred RM
       3.   Imperia
„FreedomRewardz‟ BY SBI
   Customers are rewarded points for using the SBI Debit card

   All State Bank Group Debit-card holders are pre-enrolled into
    FreedomRewardz, on individual basis

   2.5 points provided for every ` 100 purchase using the debit
    card

   Additional points for using
    the card at SBI‟s partner outlets

   Special promotions during
    holidays and festivals
„FreedomRewardz‟ BY SBI
   Points can be redeemed till 36 months from the time they are
    accrued after which they expire

   Points can be redeemed for Gifts, merchandises and services
    in the domains of:
       Personalized products
       Airline tickets, Bus tickets
       Movie tickets
       Entertainment products,
        Electronic items
       Family, Home, Fashion & Beauty
        products
       Music and Sports products
       Limited-time Seasonal Rewards
SBI FreedomRewardz Partners
LOYALTY PROGRAMS AT HDFC
BANK
   HDFC bank has 3 distinguished loyalty
    programs for customers based on the balance
    in their CASA account

     Classic banking (min. ` 1 Lac)
     Preferred Banking (min. ` 2 Lac)

     Imperia Banking (min. ` 5 Lac)
HDFC BANK CLASSIC
BANKING
HIGHLIGHTS:

   Free EasyShop Gold Debit card

   50% waiver on annual locker rental rates

   Annual waiver of `25 on Utility BillPay

   Improvement of 5 paise over the day‟s rate for
    Forex transactions
HDFC BANK PREFERRED
BANKING
HIGHLIGHTS:

   Dedicated Relationship Manager

   Customized Investment Solutions

   Relationship pricing – Credit card, Loans, Securities Trading
    account

   No charges on NEFT and RTGS transactions, Free „At Par‟
    cheque books

   Multiple Demat accounts free of charge

   Waiver of up to `2000 on service charges like Duplicate
HDFC BANK IMPERIA
BANKING
HIGHLIGHTS:

   Imperia client Relationship Manager/Private banking advisor

   In-house research-backed investment advice

   Exclusive Imperia Phone-Banking Service

   Loans, Gold bars at preferential rates, hassle-free foreign
    remittances

   Free combined monthly statements of Savings, Current and
    Fixed Deposit accounts
HDFC Loyalty Program
Partners
REASONS BEHIND
STRUCTURE
   SBI
       “FreedomRewardz is an exclusive loyalty program initiated
        by State Bank Group for its debit card holders to reward
        them with points accumulated over transactions and
        redeeming the same for a wide range of consumer
        products.”
   HDFC
       Based bank balance kept by customer with the bank
          Program Name        Balance Required
                              in CASA Account
                                     (Rs.)
                Classic                 1,00,000
             Preferred RM               2,00,000
                Imperia                 5,00,000
PROGRAM EXECUTION
   SBI
       Every new SBI customer is made
        aware of the scheme
       All State Bank Group Debit Card
        holders are pre-enrolled into
        FreedomRewardz, on an individual
        basis,
       Existing regular customers (without
        debit card) are tapped

   HDFC
       Monitor the balance of the customer
        over the quarter
       If criteria satisfied, call customer and
        brief about the program
       Old loyalty program customers refer
        new customers, pitch the same
        program
BENEFITS
   SBI
     Customer  Retention
     Increased business opportunity

   HDFC
     Business  growth
     Retains old customers
     Word- of-Mouth publicity
CHALLENGES FACED
   SBI
     Creating   awareness is
      difficult due to a huge
      customer base
     Difficult to train illiterate
      customers
     Changing habits: shift from
      traditional cash withdrawals
      to Debit Card use
     Unable to make customers
      aware of the security
      provided by them
     Negotiating and maintaining
CHALLENGES FACED
   HDFC
     New   customer asks for
      customization
     Imperia customers may ask
      for certain customized
      financial services
     Keeping service charges
      down to make the program
      viable
     Extra staff employed,
      dedicated relationship
      manager
     Costs incurred by bank to
      reimburse RM‟s travel
      expenses
Q7 Ans
PROMOTIONAL ACTIVITIES




   SBI                     HDFC
     Dedicated
              site for        QuarterlyEvents
     Freedom Rewardz          Seminars/ Workshop

                              Get-togethers

                              Donations to CRY, other NGO
BUDGET

Operating Expenses
(for the period April’09 to March’10)

   SBI
     20318,68,00   (in „000 Rs.)
   HDFC
     57,644,827   (in „000 Rs.)
DATABASE MARKETING
   SBI
     None    identified


   HDFC
     EmailMarketing
     Sending free gift vouchers
CUSTOMER FEEDBACK
   SBI

   HDFC
THANK
YOU!!!

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Banking Loyalty

  • 1. BANKING Understanding the Loyalty Programs in Banking
  • 2. Presented By:  Dheeraj Meshram  Kinnar Majithia  Akankasha Sharma (P1053)  Nishad Banodkar  Nirav Doshi  Ebrahim Noorani
  • 3. Contents  Structure of Loyalty Programs  Reasons Behind Structure  Program Execution  Benefits  Challenges Faced  Promotional Activities  Budget  Database Marketing
  • 4. STRUCTURE OF LOYALTY PROGRAM  SBI  FreedomRewardz (Debit Card Plan)  HDFC  Divided into 3 Programs 1. Classic 2. Preferred RM 3. Imperia
  • 5. „FreedomRewardz‟ BY SBI  Customers are rewarded points for using the SBI Debit card  All State Bank Group Debit-card holders are pre-enrolled into FreedomRewardz, on individual basis  2.5 points provided for every ` 100 purchase using the debit card  Additional points for using the card at SBI‟s partner outlets  Special promotions during holidays and festivals
  • 6. „FreedomRewardz‟ BY SBI  Points can be redeemed till 36 months from the time they are accrued after which they expire  Points can be redeemed for Gifts, merchandises and services in the domains of:  Personalized products  Airline tickets, Bus tickets  Movie tickets  Entertainment products, Electronic items  Family, Home, Fashion & Beauty products  Music and Sports products  Limited-time Seasonal Rewards
  • 8. LOYALTY PROGRAMS AT HDFC BANK  HDFC bank has 3 distinguished loyalty programs for customers based on the balance in their CASA account  Classic banking (min. ` 1 Lac)  Preferred Banking (min. ` 2 Lac)  Imperia Banking (min. ` 5 Lac)
  • 9. HDFC BANK CLASSIC BANKING HIGHLIGHTS:  Free EasyShop Gold Debit card  50% waiver on annual locker rental rates  Annual waiver of `25 on Utility BillPay  Improvement of 5 paise over the day‟s rate for Forex transactions
  • 10. HDFC BANK PREFERRED BANKING HIGHLIGHTS:  Dedicated Relationship Manager  Customized Investment Solutions  Relationship pricing – Credit card, Loans, Securities Trading account  No charges on NEFT and RTGS transactions, Free „At Par‟ cheque books  Multiple Demat accounts free of charge  Waiver of up to `2000 on service charges like Duplicate
  • 11. HDFC BANK IMPERIA BANKING HIGHLIGHTS:  Imperia client Relationship Manager/Private banking advisor  In-house research-backed investment advice  Exclusive Imperia Phone-Banking Service  Loans, Gold bars at preferential rates, hassle-free foreign remittances  Free combined monthly statements of Savings, Current and Fixed Deposit accounts
  • 13. REASONS BEHIND STRUCTURE  SBI  “FreedomRewardz is an exclusive loyalty program initiated by State Bank Group for its debit card holders to reward them with points accumulated over transactions and redeeming the same for a wide range of consumer products.”  HDFC  Based bank balance kept by customer with the bank Program Name Balance Required in CASA Account (Rs.) Classic 1,00,000 Preferred RM 2,00,000 Imperia 5,00,000
  • 14. PROGRAM EXECUTION  SBI  Every new SBI customer is made aware of the scheme  All State Bank Group Debit Card holders are pre-enrolled into FreedomRewardz, on an individual basis,  Existing regular customers (without debit card) are tapped  HDFC  Monitor the balance of the customer over the quarter  If criteria satisfied, call customer and brief about the program  Old loyalty program customers refer new customers, pitch the same program
  • 15. BENEFITS  SBI  Customer Retention  Increased business opportunity  HDFC  Business growth  Retains old customers  Word- of-Mouth publicity
  • 16. CHALLENGES FACED  SBI  Creating awareness is difficult due to a huge customer base  Difficult to train illiterate customers  Changing habits: shift from traditional cash withdrawals to Debit Card use  Unable to make customers aware of the security provided by them  Negotiating and maintaining
  • 17. CHALLENGES FACED  HDFC  New customer asks for customization  Imperia customers may ask for certain customized financial services  Keeping service charges down to make the program viable  Extra staff employed, dedicated relationship manager  Costs incurred by bank to reimburse RM‟s travel expenses
  • 19. PROMOTIONAL ACTIVITIES  SBI  HDFC  Dedicated site for  QuarterlyEvents Freedom Rewardz  Seminars/ Workshop  Get-togethers  Donations to CRY, other NGO
  • 20. BUDGET Operating Expenses (for the period April’09 to March’10)  SBI  20318,68,00 (in „000 Rs.)  HDFC  57,644,827 (in „000 Rs.)
  • 21. DATABASE MARKETING  SBI  None identified  HDFC  EmailMarketing  Sending free gift vouchers
  • 22. CUSTOMER FEEDBACK  SBI  HDFC