The excellent customer-recruit-customer program
One program – 2 successes
Since starting the cooperation with Coloyal, Commerzbank has tripled referrals to over 140,000 per year.
In the first year, Commerzbank’s KwK program won the international Loyalty Award in the category “Best Coupon or Voucher Based Loyalty Program.” It beat 130 entries, including British Airways, Royal Bank of Scotland, and Tesco.
End-customer business is highly competitive for banks and presents many challenges. Therefore, acquiring new customers must be planned, implemented, and executed at the highest level. Since 2011, Coloyal has successfully managed this task for Commerzbank’s customer-acquire-customer program.
Customers who convince others of the bank’s advantages are directly rewarded with attractive incentives. They can also save for high-quality brand products by participating in expert surveys or referring multiple new customers.
The program includes cash rewards, branded products, and vouchers. These are updated annually with the latest products and promotional offers. Commerzbank customers can access the current catalogue in-branch or online on a dedicated campaign page.
The program’s success is driven by many special offers, as well as simple and fast processing of reward orders and shipping.
Case Details
- We are responsible for the planning, conception and management of the rewards assortment, which has been continuously improved and aligned with the interests of bank customers for years. Commerzbank relies on market research data and analyses, among other things, but also on personal sample demonstrations from us.
- In doing so, we repeatedly succeed in significantly increasing the number of Commerzbank recommendations, especially through special promotions: for example, through successful reward sourcing such as seasonal competitions, 3-for-1 offers, shared rewards for advertisers and new customers, voucher allowances or the integration of DFB fan articles in the run-up to the World Cup and European Football Championship.
- In addition, as part of our customer service, we offer participants in the KwK program the opportunity to contact us directly via the service hotline if they have any questions regarding rewards, shipping, etc.
About Commerzbank
Commerzbank is the leading bank for SMEs and a partner to around 11 million private and corporate customers in Germany. Every day, more than 40,000 employees work on financial services. Commerzbank handles around 30 percent of Germany’s foreign trade and is represented internationally in corporate customer business in almost 40 countries.
