AF­TER CARE­FUL

Finweek English Edition - - Loyalty Rewards -

con­sid­er­a­tion and much cus­tomer re­search, Absa took a de­ci­sion to com­pletely re­vamp its loy­alty propo­si­tion and launched its new pro­gramme in May 2009, says Fayeliz­a­beth Fos­ter, GM at Absa Re­wards. “Cus­tomer re­ten­tion and sat­is­fac­tion were key in that de­ci­sion. The new pro­gramme of­fers real tan­gi­ble value. Absa Re­wards isn’t about earn­ing points or ac­cu­mu­lat­ing cred­its: pro­gramme mem­bers earn their re­wards in cold, hard cash – which makes it very at­trac­tive,” says Forster.

Each time an Absa Re­wards mem­ber swipes his Absa debit, credit or cheque card at any of the more than 70 Absa Re­wards part­ners they earn a per­cent­age of their pur­chase back in cash re­wards. Those can then be re­deemed for cell­phone air­time, shop­ping vouch­ers, an Absa in­vest­ment, travel ar­range­ments or a do­na­tion to a

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