How a Mobile Discount Program Works - from Perspective of a Real User

In today’s world, working moms like Della don’t think there is anything special about their bank or credit union. She’s like 77% of consumers who are willing to switch banks for better rewards, and she’s only half-way sure that she’ll have the same primary account in six months. She’s wondering about all of the new financial offerings and payment options from companies like Apple, Google, Facebook, Square, Wal-Mart, and Target.

The good news is that Della still trusts you more than she trusts those tech companies and retailers. According to Bain & Company, “FIs are in prime position to benefit from new payment methods and loyalty schemes. Consumers trust FIs with their data more than they trust retailers, tech companies, or alternative payment providers.” [1]

So, how can your FI build on that existing trust and increase loyalty? One way is to help Della save money throughout her daily routine with location-based discounts and information that keeps her financially informed.

How does a mobile discount program work?

There are many options for loyalty programs for credit unions and banks. Larky’s white-labeled platform allows your bank or credit union to send compelling, location-based discounts to customers (like Della) throughout their daily routines. The member loyalty program, website, and alerts are branded to your financial institution, and Della simply pays with your credit/debit card to get the discounts. Here's a case study of one of our clients (CFCU) that might interest you.

Show Me Larky

But I don't want a demo yet - can't you show me right here how the mobile loyalty app works?

Oh, sorry! Sometimes we assume that you already know what we do ;-) Let’s paint a picture of how her credit union could help her throughout the day…

 della1. Meet Della. She’s been a member of the (fictitious) People’s Credit Union (PCU) for eight years. As a working mom, she is conscientious about her family’s expenses, and she appreciates companies and products that help her save money.



 birthday2. Today is Della’s 35th birthday. When she wakes up, she sees a birthday message on her phone from People’s Credit Union: “Happy Birthday! Get half off a smoothie at Tropical Smoothie Cafe.” Della thinks, “What a nice surprise! I love those smoothies and that place is right on the way to work.”


3. Della jumps out of bed, showers, and gets her kids ready for school. As she pulls up in front of the school, she gets an alert on her phone from PCU – “Free kids breakdancing class after school today!” Della thinks, “Super! Now I’ll have extra time for a birthday spa treatment.”


4. On her way to work, Della stops at the smoothie shop. She remembers to pay with her PCU card (because of the automatic reminders to use credit/debit card), so she gets 50% off right there at the register. “Instant savings? Wow, thank you, PCU!”


5. At work, Della takes a break and buys herself the birthday gift she’s been eyeing for months - new running shoes. She searches Google for the best price and discovers that PCU has negotiated a discount for her at East Bay and “What a deal!” she says, “Smoothies and shoes! How does PCU achieve such magical delight?!”


6. At lunchtime, Della has errands to run – 1) Test drive a new car and 2) Join a gym. When she gets to the car dealer, her phone lights up again, this time with a reminder of PCU’s great car loan rates. And, if she buys this month, she gets five free oil changes. “OMG! I see a new car in my future!” says Della.


7. When she goes to sign her new gym membership, she pays with her PCU credit card and she gets the initiation fee waived, and 10% off monthly fees. “OK, this is nutty PCU,” she thinks, “Am I on Candid Camera? Why are you being so darn nice to me?”

branch8. On her way back to work, Della drives by one of PCU’s branches. An alert on her phone says, “Come in for cider, doughnuts, and a free financial health checkup.” Over a nice cup of warm spiced cider, Della asks the financial planner a few good questions, and she likes what she hears. She schedules a time to come back later with her husband.

alert9.That night during Della’s birthday dinner, she and her husband discuss what their kids will do over summer break. After dinner, they check their PCU discount portal and realize that PCU gives them great discounts on kids’ art classes at the local community college. The kids will love it!

 This is how your financial institution becomes an integral part of Della’s daily routine. Della soon comes to realize that you are really “more than just her credit union.” You look out for her and her family. You bring her information, savings, and “serendipitous delight.” You touch Della throughout her life, not just when she’s banking.

So when it comes time for her to buy that car, pay for summer art classes, choose a financial planner, or open a new savings account, you will be top of mind.  You’re no longer part of the same old pack of banks and credit unions. You’re a trusted advisor, a partner, an integral part of Della’s life. Congratulations!

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1. Bain & Company, 2013 Customer Loyalty in Retail Banking.

Posted on December 17, 2014 by AndrewB - No Comments

Topics: Financial Institutions, Members, Loyalty