Case Study - Building Relationships
A large US bank wanted to cultivate primary banking relationships with the credit card playing an integral role, move affluent customers away from competing card products, and encourage them to use their card as front of wallet.
Also, they wanted to create a luxury and experiential rewards program that created differentiation and drove acquisition, spend and loyalty, while incentivising transactions that collectively drove engagement.
Ten created a programme that included unlimited Lifestyle Concierge services, access to unique luxury and experiential lifestyle experiences, and a personalised communications programme based on the members’ passion points.
One facet of the programme was to offer a fully white-labelled version of Ten’s Dining Club, which is an exclusive club that provides weekly availability to extremely hard to book tables at popular fine dining restaurants in a specific city.
The Dining Club was offered to their customers as an effective tool to drive engagement.
Within the first month following the launch, the weekly Dining Club email was achieving a 40 per cent open rate, almost double the national average.
Ten and the client recorded an 397 per cent increase in total dining spend from Dining Club recipients.
The individual dining transactions spent on the credit card for Dining Club members was 136 per cent higher than non-Dining Club members.