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2020 Foresight Report: Retail Bank Loyalty Programs

Timetric
Published Date » 2013-06-28
No. Of Pages » 45
   
  Synopsis  
   
  The report provides market analysis, information and insights into retail bank loyalty programs:  
   
 
 
 Provides a global snapshot of loyalty programs adopted by retail banks in developing and developed economies in the banking industry 
 Analysis of retail bank loyalty programs trends and drivers and key operational opportunities and challenges faced 
 Detailed analysis of loyalty program product and marketing strategies globally 
 Analysis of loyalty program customer targeting and marketing strategies adopted by leading retail banks operating in various markets 
 
 
   
  Executive summary  
   
 Loyalty programs have emerged as one of the key marketing tools in the global retail banking industry. Retail banks offer a number of loyalty...
Table of contents

1 Executive Summary

2 Introduction to Retail Bank Loyalty Programs
2.1 Loyalty Programs Snapshot
2.2 Key Drivers of Loyalty Programs
2.3 Regulatory Trends and Challenges

3 Key Operational Challenges and Opportunities
3.1 Loyalty Program Design and Operational Frameworks
3.2 Multi-Channel Banking Experience
3.3 Localization and Product Differentiation
3.4 Merchant-Funded Loyalty Programs

4 Loyalty Program Product and Marketing Strategies
4.1 Loyalty Program Implementation Dynamics
4.1.1 Loyalty program framework
4.1.2 Revenue generation and cost reduction strategies
4.2 Loyalty Program Strategies through Emerging Channels
4.2.1 Social media strategies
4.2.2 Mobile strategies
4.3 Key Technology Trends and Impact Assessment on Loyalty Programs

5 Customer Targeting Strategies
5.1 Targeting Based on Income Level
5.1.1 Mass market
5.1.2 HNWIs
5.2 Targeting Based on Demographics
5.2.1 Students
5.2.2 Female customers
5.3 Targeting Based on Psychographics
5.3.1 Customer lifestyle
5.3.2 Professionals and entrepreneurs
5.3.3 Rewards based on purchasing behavior

6 Best Practices in Retail Bank Loyalty Programs
6.1 Best Practice
6.1.1 Using analytics to understand consumer behavior and offer customized loyalty programs
6.1.2 Expansion of reward programs across territories and new channels to cater new customers
6.1.3 Introduction of higher margin reward programs to improve profitability
6.1.4 Targeting young population through social media
6.2 Case Studies
6.2.1 Russian Standard Bank (RSB) benefited from an analytics platform
6.2.2 Citi teams up with Best Buy to launch a mobile-based loyalty program in the US
6.2.3 Union First Market’s loyalty program to scale-up business
6.2.4 Alpha Bank’s instant rewards through POS terminals
6.2.5 Barclays Bank’s reward program through low-cost banking channels

7 Appendix
7.1 Methodology
7.1 Contact Us
7.2 About Timetric
7.3 Disclaimer

List of Tables


Table 1: Loyalty Program Strategies Through Emerging Channels

List of Figures


Figure 1: Total Card Spending in Developed Economies (US$ Billion), 2008–2012
Figure 2: Total Card Spending in Emerging Economies (US$ Billion), 2008–2012
Figure 3: Key Growth Drivers of Loyalty Programs
Figure 4: Regulatory Trends and Developments in Retail Banking Loyalty Programs
Figure 5: Operational Challenges and Opportunities in Loyalty Programs
Figure 6: Snapshot of Changing Consumer Preferences
Figure 7: Loyal Program Framework in Multichannel Banking
Figure 8: Loyalty Program Design by Customer Segment
Figure 9: Merchant-Funded Loyalty Program Adoption by Country
Figure 10: The Merchant-Funded Loyalty Program Value Chain and the Role of the Service Provider
Figure 11: Loyalty Program Framework
Figure 12: Revenue Generation and Cost Reduction Strategies
Figure 13: Key Technological Trends and Impact Assessment on Loyalty Programs
Figure 14: Customer Targeting Strategies Framework
Figure 15: Challenges Faced and Best Practices Adopted by Retail Banks
Figure 16: Loyalty Program Offerings by RSB, 2011
Figure 17: Snapshot of Citi’s Loyalty Program Mobile Application
Figure 18: Loyalty Program Offerings by Citi in Collaboration with Best Buy, 2011
Figure 19: Total Relationship Banking Loyalty Program Offered by Union First Market Bank
Figure 20: Alpha Bank’s Loyalty Program Through POS
Figure 21: Barclays Bank’s Reward Program Through Low Cost Banking Channels, 2009

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