Korean FSI launches partner loyalty scheme

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By: Wise Marketer Staff |

Posted on October 8, 2004

Korean FSI launches partner loyalty scheme

The Korean financial services firm Samsung Card has begun using its customer data more effectively to help drive partner revenue and customer loyalty, through a partner-based loyalty programme called Samsung LIFE N joy, designed and managed by Asian loyalty marketing firm SurfGold.

The Samsung LIFE N joy programme, Samsung Card's new partner channel loyalty programme, was designed to help recruit and promote Samsung Card's network of partners and merchants, and to increase its market presence. According to programme operator, SurfGold, the scheme has been very successful since its launch in Spring 2004.

Samsung Card serves over 11 million members with an annual transactional value of over US$75 trillion. Faced with increased competition and a continued Korean economic downturn, the company contracted SurfGold to launch a comprehensive online programme that provides useful information to customers while providing increased revenue opportunities for the partner network.

Loyalty target The programme was aimed at increasing customer loyalty by offering greater benefits and driving Samsung Card holders to use Samsung Card partner locations. The programme web site provides various services to Samsung Card users by offering discounts and information on the products available from Samsung Card partner locations, while enabling the partners to advertise on the web site with various promotional offers.

During the course of the programme, customer data and transaction patterns are also tracked to help the company induce short term spikes - for example, by using lotteries, games, and online quizzes that maintain consumer excitement and increase momentum.

New partners join Six months after its launch the programme has increased the cumulative transactional value of Samsung Card by a "significant" amount, and more than 20,000 partners throughout Korea have joined as Bonus Club Members in categories including restaurants, shopping malls, and travel.

"I think the critical factor for the programme's success is the way we used Samsung Card's customer data to drive channel revenue", explained Yongmin, managing director for SurfGold Korea. Following the successful first phase, Samsung Card is expanding the programme through advertising programmes for partners to help attract even more consumers. An online redemption mall was also recently set up, through which programme members are able to redeem their loyalty points for a range of rewards.

For additional information: ·  Visit SurfGold at http://www.surfgold.com ·  Visit Samsung LIFE N joy at http://www.samsunglifenjoy.com