Designing a Loyalty Strategy for a Bank

Consumer Behavior, Member Activities, Services/CRM, Strategy and Plans

This activity focuses on evaluating and selecting loyalty strategies for a small regional bank. The bank faces significant challenges in retaining high-value customers due to competition from larger banks and digital-first services. A list of 20 loyalty strategies are outlined for students. Students need to assess these strategies based on criteria like cost, feasibility, and impact, using a scoring model to recommend the most effective approaches for enhancing customer retention and differentiation in a competitive market.

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About The Author

Geoff Fripp

Geoff Fripp is an experienced marketing educator and practitioner with many years of expertise in teaching and industry roles. As the founder of Great Ideas for Teaching Marketing, Geoff has created over 500 activities and tools to help educators deliver engaging and practical lessons across diverse learning styles and student levels. With nearly 2,000 lectures across ten universities, including 19 years at the University of Sydney, Geoff is recognized for his practical approach to marketing education. Geoff’s industry background includes senior marketing roles at medium and large firms, as well as entrepreneurial ventures. He has authored and co-authored textbooks with Pearson Education, as well as developing more than a dozen case studies for their marketing textbooks.