#346:Why FNB’s eBucks program in South Africa is one of the best programs in the world?
In this episode, Tom Peace highlights the key success factors that make eBucks such an amazing program.
eBucks is a rewards program for FNB bank customers, providing rewards to card users for simply spending with their bank cards. The highly successful program has been running for 21 years and is multi-award-winning year after year.
Paula: Welcome to Let’s Talk Loyalty, an Industry podcast for loyalty marketing professionals. I’m Paula Thomas, the Founder of Let’s Talk Loyalty. Today’s episode is hosted by Tom Peace, Managing Director of The Loyalty People, a strategic consultancy with a laser focus on loyalty, CRM, and customer engagement.
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Tom: Hello there and welcome to this week’s five minute summary show on behalf of Let’s Talk Loyalty. I’m Tom Peace, Managing Director of The Loyalty People and presenter of Let’s Talk a Little Loyalty. This week my Let’s Talk a Little Loyalty podcast showcases Paul’s interview with Johan Moorman, CEO of eBucks, the loyalty program for FNB Bank customers in South Africa.
At the time of publication, back in January, 2022, eBucks had just won the best program of the year award at the 2021 South African Loyalty Awards. This is an award that eBucks has won several times as well as many other awards, such as most innovative use of technology.
This show is great to review because I have a lot of interest in retail bank loyalty programs, following my time working with Royal Bank of Scotland Group and Amex on their cashback driven loyalty solutions in the UK, eBucks really is held up as the flag bearer of a retail banking customer engagement, and rightly so, this is a phenomenal program and it is absolutely justified that this program is still a multi award-winning program over 20 years after launch.
I’d highly recommend the main show, which can be found on www.letstalkloyalty.com, and first aired on the 6th of January, 2022. Episode number 175. So why is the eBucks program so great? There’s a number of reasons, but the key to their success really is the value they give to the member. Let me take you through my thoughts on the key success factors.
Firstly, the program is very valuable. Points recruit at one point per rand, and there is no value drop for redemption. There is also a lot of redemption options. There’s always something of value for any customer. The program is also very simple to understand and convenient to use. The user interface is excellent and redemptions can easily be made as the bank has really invested in using the customer data they have available to simplify their customer journeys with their partners.
FNB also used the customer insight they have generated to structure highly personalized and targeted offers and communications to their customers so that they feel that the bank really understands their needs and is trying to help with their everyday lives. So in summary, eBucks is really getting everything just right and their program is an example to all of us in the loyalty industry, not just those of us working in retail banking.
Thanks for listening. I hope you enjoyed the summary. I’d highly recommend listening to the main show. All the best, and speak soon, Tom.
Paula: This show was sponsored by The Wise Marketer, the world’s most popular source of loyalty, marketing, news, insights, and research. The Wise Marketer also offers loyalty marketing training through its loyalty academy, which has already certified over 500 executives in 38 countries as certified loyalty marketing professionals. For more information, check out thewisemarketer.com and loyaltyacademy.org.
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