BNP Paribas Personal Finance, the consumer finance specialist behind some of the UK’s best-known High Street names, has launched a new service to provide retailers a cost effective loyalty solution. The first partnership to launch is with established department store chain Beales to manage its ‘Love Rewards,’ loyalty programme.
This marks an exciting time for BNP Paribas Personal Finance, the Solihull based provider of card, loyalty and retail finance solutions as it leverages its customer focus and data and marketing expertise to provide its first loyalty servicing contract.
Faced with challenges of changing consumer trends and the impact of the recession on high street retailers, Beales were looking for an innovative and cost effective solution to enhance loyalty and release value from its 120,000 account card and loyalty card customers, held on two separate databases. BNP Paribas Personal Finance approached Beales to review its ‘Love Rewards’ programme and to develop a more effective way of tapping into data insight to drive profitable customer behaviour.
BNP Paribas Personal Finance and Beales collaborated to create a strategy focussed on creating a single platform, migrating two databases into one, removing and closing the store card, and enhancing the ‘Love Rewards’ loyalty programme to provide a more generous offer for all customers.
‘Love Rewards’, which is promoted across Beales’s 32 department stores, gives members access to exclusive offers and generous promotions as well as points gained from spend instore which are converted to vouchers twice a year to be redeemed in Beales’ stores.
BNP Paribas Personal Finance ‘s 40 year expertise of helping businesses connect with their customers makes it well placed to understand the challenges faced by retailers to develop tailor made, scaleable and cost effective solutions.
A key reason for BNP Paribas Personal Finance’s appointment by Beales was its co-operative working approach, which has facilitated the migration of more than 120,000 members from Beales’s existing schemes to the ‘Love Rewards’ loyalty programme. The programme has been developed with the Beales customer firmly in mind and will ensure effective consumer engagement and participation in the ‘Love Rewards’ scheme.
Rachel Rhodes, Head of Loyalty and Data Services, BNP Paribas Personal Finance said: “BNP Paribas Personal Finance is delighted to be working with Beales and to build on the great foundation already established for the ‘Love Rewards’ programme. Our aim is now to increase customer insight and leverage our powerful data analytics to allow Beales to build lasting and meaningful customer relationships.”
“We’re really proud to be offering a range of services to Beales to support their objectives; not only will our experience and powerful loyalty platform add value, we are also able to support the programme through offering contact centre and print management services.”
Michael Hitchcock, CEO, Beales said: “When deciding on a new supplier of loyalty services, paramount in our thoughts were flexibility and experience – we needed a supplier that reassured us they could deliver across all areas of loyalty. BNP Paribas Personal Finance was an ideal choice on both counts. Its LaSer Loyalty platform was developed at a pace, which was testimony to BNP Paribas Personal Finance’s willingness and flexibility to support our requirements. Furthermore, BNP Paribas Personal Finance’s knowledge of customer service is unparalleled and can only benefit Beales moving forward.”
BNP Paribas Personal Finance, a UK leader in co-branded credit card, loyalty and retail finance programmes, offers highly tailored loyalty solutions. Its approach provides the client with the platform, tools and services required to operate successful loyalty programmes adding customer value and driving business growth.