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Korean FSI
launches partner loyalty scheme
Published in TheWiseMarketer.com
The Korean financial services firm Samsung Card has begun using its
customer data more effectively to help drive partner revenue and customer
loyalty, through a partner-based loyalty programme called Samsung
LIFE N joy, designed and managed by Asian loyalty marketing firm SurfGold.
The Samsung LIFE N joy programme, Samsung Card's new partner channel
loyalty programme, was designed to help recruit and promote Samsung
Card's network of partners and merchants, and to increase its market
presence. According to programme operator, SurfGold, the scheme has
been very successful since its launch in Spring 2004.
Samsung Card serves over 11 million members with an annual transactional
value of over US$75 trillion. Faced with increased competition and
a continued Korean economic downturn, the company contracted SurfGold
to launch a comprehensive online programme that provides useful information
to customers while providing increased revenue opportunities for the
partner network.
Loyalty target
The programme was aimed at increasing customer loyalty by offering
greater benefits and driving Samsung Card holders to use Samsung Card
partner locations. The programme web site provides various services
to Samsung Card users by offering discounts and information on the
products available from Samsung Card partner locations, while enabling
the partners to advertise on the web site with various promotional
offers.
During the course of the programme, customer data and transaction
patterns are also tracked to help the company induce short term spikes
- for example, by using lotteries, games, and online quizzes that
maintain consumer excitement and increase momentum.
New partners join
Six months after its launch the programme has increased the cumulative
transactional value of Samsung Card by a "significant" amount,
and more than 20,000 partners throughout Korea have joined as Bonus
Club Members in categories including restaurants, shopping malls,
and travel.
"I think the critical factor for the programme's success is the
way we used Samsung Card's customer data to drive channel revenue",
explained Yongmin, managing director for SurfGold Korea. Following
the successful first phase, Samsung Card is expanding the programme
through advertising programmes for partners to help attract even more
consumers. An online redemption mall was also recently set up, through
which programme members are able to redeem their loyalty points for
a range of rewards.
For additional information:
• Visit Samsung LIFE N joy at http://www.samsunglifenjoy.com
This article is copyright 2004 TheWiseMarketer.com.
For specific information on how we can help your business, write to
us at info@surfgold.com
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