AMP BANK NEEDED TO REDUCE ATTRITION RATES

 


AMP knew people didn’t enjoy receiving their bills. Or thinking about their bills. So, to make bill paying as simple as possible for their customers, they introduced a direct debit payment option.
 They knew this option would lead to improved loyalty, attrition and even an increase in customer lifetime value because, quite simply, it made an unpleasant, often inconvenient activity easy. And there would be fewer nasty ‘bill shocks’ as the money could come directly from their consumers’ accounts without them having to spend their precious time on the phone or paying online. But to start reaping the rewards of their new program, they first needed their customers to adopt the payment method.

SOLUTION

DIRECT MAIL INVITE

The client received an invite to swap to direct debit via direct mail.

INSTANT REWARD

We knew sending reward cards ready to activate would create the best response rates.

WE MADE IT EASY

Customers didn’t need to wait, they had their reward ready to go in their hands.

FAST RESPONSE

Using reward cards doubled response rates compared to previous campaigns.

OUTCOME

A BRANDED EFTPOS CARD DOUBLED RESPONSE RATES

 

To run a campaign like this – with such an important goal – we used the best of our research and experience to optimise the result. We also managed the program and mail-outs on behalf of AMP, to maximise their own internal efficiency.

Our past case studies advised us to include an inactive eftpos gift card, rather than the promise of one, in the envelope customers received in the mail. The effect of having the card already in the customers’ hands was a proven method – and it worked for AMP. Their previous response rates were doubled – the rates rose to 10-12%!

ABOUT THE AUTHOR

Andy Burnip

Company Director Andy Burnip has been shaping customer retention & loyalty strategies for tier 1 & 2 companies for over 20 years. If he's not launching new campaigns, you'll probably find him out launching his boat.

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