Citibank launched a credit card co-branded with Jet Airways. Some of the features include no joining fee, annual fee, add-on fee or renewal fee. In fact, no fee of any kind. On the other hand customers get incentives like free upgrade vouchers on renewal. On top of all this customers get 2 JP Miles on their Jet Airways loyalty program to which they get auto enrollment.
Why is Citibank pursuing these customers so aggressively?
Citibank analyzed the spending information of its credit card customer base and identified customers who purchase air tickets on their credit cards (air travelers) as a highly profitable customer segment. Citibank decided to target these customers with an offer that is more relevant to their lifestyle. It tied up with Jet Airways, one of the leading airlines in the country to come up with a co-branded credit card that provides benefits to customers in the form of air miles and upgrade vouchers.
This is an example of how companies use analytics to create a win-win situation all around. Citibank gets a customer base that is highly profitable and satisfied. Jet Airways increases the loyalty of its customers by enrolling them in the loyalty program. Customers benefit from promotions that are tailored to their needs.
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