Don't just be different, be extraordinary!
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These days, an overseas trip does not necessarily have to be with a travel agency. The credit card in your pocket offers more perks than you may have expected. Many cardholders are now having fun with the non-financial benefits offered through their card
How about exclusive holiday experiences such as a Michelin-star dining experience with one of Thailand’s most popular actors, or a dharma trip with a famous fortune-teller? You may be surprised that your card can arrange these dream trips at a competitive price.
Not so interested in a “meet, greet and eat” with a handsome actor? Perhaps you would prefer a relaxing workshop with a quilt master from Japan, or a cosy Sunday afternoon in an oil painting class at an award-winning boutique hotel.
On the other hand, a couple planning a long weekend with their kids will need something to occupy their Energiser Bunny five-year-old. A friendly cooking workshop for kids might be the answer, to keep him busy for an afternoon or two and allow the parents to do their own thing.
With so many competitors, everyone in the financial industry is working harder to capture customers’ imagination. Card operators are trying to rid their products of mundane associations and create “extraordinary” experiences for their users.
Discounts, giveaways, special bonus points and big-draw prizes are considered bland and available everywhere.
However, exotic offers like the ones mentioned above can backfire on card companies, costing them time and resources without attracting more customers. Sometimes a unique event can be so unique that it becomes just a “flash in the pan” – lots of heat and light but little to show for it.
Banks are not stupid, nor are they charities. So why are they spending all this money? They classify these unique events as long-term investment and part of a customer
relationship management (CRM) strategy that will hopefully create customer loyalty.
Banks use the data from successful exotic offers to analyse customer behaviour in-depth, which allows them to cater to particular customer needs and allocate their resources more effectively.
Instead of investing in a direct mailer inviting a customer on a Buddhist pilgrimage trip, a short message to inform her of a Martha Stewart shopping fair will guarantee a better outcome, as she appears to be more of a home-maker than a temple-visitor.
So, card members, don’t hesitate. Take advantage!
Janejit Ladpli is vice president of Travel & Leisure Marketing at Krungthai Card (KTC).
