Want to cut churn? Say Thank You.
by Joshua Tretakoff | VP, Account Management
Wonderful tidbit out of this week’s SourceMedia’s ATM, Debit & Prepaid Forum in Chandler, Ariz., from Citigroup, inc. According to CardLine, Nancy Gordon, Executive Vice President of Citi’s ThankYou Rewards reports that Citi has cut churn by 50%, thanks to the ThankYou Network rewards program. Even better, she reports that cardholders that belong to the rewards program spend more and help the bank earn higher revenues than customers who have not signed up.
It may have taken a little while to get there, but this is a clear win for the loyalty program space.
