Loyalty, Retention, and Wallet Share. Oh My!

We have a new frightening-yet-enlightening video for financial institutions. Watch if you dare!

FI_video

Here are two scary statistics:

  • 20% of consumers consider switching financial institutions each year.
  • 50% of financial products are bought from non-primary institutions. 

What can be done to boost loyalty, wallet share, and interchange revenue?

A)    Ask your branch employees to provide more smiles and flattery to customers?
B)    Offer a rewards card that gets lost with the other 22 cards in people’s wallets?
C)    Provide cash back on purchases (which you have to track on your books)?
D)    Deliver point-of-sale local discounts via smartphone alerts and ask users to pay with your credit/debit card to get the discounts?

If you chose answer D, you get an A+ and a banana-scented scratch-n-sniff sticker!

Check out our scary, silly, informative video for financial institutions who want to get a leg up on all of those other banks and credit unions. 

Larky is a mobile loyalty platform that amazes and works to keep members happy and loyal.  To learn more, visit Larky.com or email us at hello@larky.com.

 

Posted on October 09, 2014 by AndrewB - No Comments

Topics: Financial Institutions, Loyalty