Credit Card Partner Optimization
A leading bank and credit card issuer
In order to increase customer loyalty while reducing costs, a leading credit card company wanted to reduce the number of partners in its rewards program to only those that added significant incremental value to customers.
Rewards program members completed an online survey to evaluate existing and potential partners in the program. TURF (Total Unduplicated Reach & Frequency) techniques were used to:
- Determine the effect of reducing the partner set
- Understand which partners fill niches and which overlap
- Test new partners to see if they bring more value
RSG found that over 40% of partners in the program could be cut without significantly affecting the customer base (i.e., reach or frequency), while a number of partners were also identified as niche and important to the program. Additionally, new partners were identified that could replace existing partners to maximize customer value.
Through a redefined credit card rewards program, the client streamlined its partner offerings.