Encourage Profitable Consumer Behavior.
A regional Midwest bank was looking to encourage a greater percentage of its customers to accept electronic statements as their preferred billing method. The brand was struggling with willing participants due to poorly constructed sign-up incentives.
The bank had a poor success formula:
Xenon restructured their reward strategy from top to bottom to better meet the expectations of their customers and the dynamics of the market place. Rather than involve consumers in a lengthy enrollment process, we delivered “electronic only” incentives that eliminated fulfillment, provided reward immediacy and allowed for a greater per customer spend. Equally motivating was that customers could pick their sign-up reward from among movies, pizza, entertainment and more.
Program was tested and outperformed both a control offer and the previous offer strategy by an incremental, double-digit lift. The client now has a branded platform that is flexible for new offers and can be broadened across other business segments and services.