Boosting customer loyalty by increasing brand engagement and offering value-added solutions: the development of a loyalty program´s value proposition

Abstract

The Consulting Project focuses on the strategic assessment of the potential value creation of a loyalty program in the context of the insurance industry and also on the development of one for Tranquilidade–including its value proposition; structure; mechanics; and financial impact assessment. The fulfilment of this pair of objectives was accomplished by conducting externa land internal analyses, in order to identify not only the opportunities and threats in the insurance industry but also to pinpoint Tranquilidade’s strengths and weak nesses to succeed in it. The Team proceeded to formulate hypotheses and testing them, by interviewing experts in the industry; doingin-depth interviews with customers; doing a survey; and organizing two focus groups as well as one design-thinking work shop. The outcome of the present project is a loyalty program–the + Tranquilos Program– ,as a main recommendation ,along side a set of additional considerations, whose implementation will be critical to the success of the Program, a lined with ded Solutions”, so that Tranquilidade can be come a life time partner for Portuguese insurance customers. Keywords: App, B2C, Benefits Collection, Consulting, Customer Loyalty, Engagement, Generali, Insurance, Insurance Product, Lifetime Partner, Loyalty Program, Network of Partners, Redeem, Tranquilidade, Value Proposition.