MetLife Emeklilik ve Hayat A.Ş. - New Product or Service Introduction of the Year

Company: MetLife Emeklilik ve Hayat A.Ş., İstanbul, Turkey
Company Description: MetLife was established in Turkey in 1988 and offers insurance products and services for both individuals and groups.
Nomination Category: Marketing Campaign Categories - Specialty
Nomination Sub Category: New Product or Service Introduction of the Year

Nomination Title: 'MetLife Benimle' Customer Loyalty Program

Specify the date on which this campaign or program was launched: MetLife Benimle is a customer loyalty program that launched in February 2020.

https: //www.metlife.com.tr/metlife-benimle-tantm-video/
https: //www.metlife.com.tr/metlife-benimle-kampanyalar/

Launched in February 2020, MetLife Benimle is a loyalty program depending on the calculation of Value-Based Scoring (VBS) model and 3 rewarding layers, designed for existing and future MetLife customers, allowing them to get special benefits on their insurance or pension policy collection, new policy purchases and retention, combining them with lifestyle privileges via MetLife Benimle website that all MetLife customers can freely benefit from in their everyday lives. MetLife was looking for a business solution that can help them to increase persistency (the main KPI is to have 1,42% incremental persistency effect in 2020), keep a up-to-date customer database and find a touchpoint to engage with customers more directly and frequently. MetLife also wanted to create brand awareness and to serve an improved NPS and positive impact on customers’s interest to increase penetration of the MetLife website.

MetLife Benimle loyalty program is proposed to be integrated with all customer engaged channels. In first phase core channel is proposed to be a website, call center and marketing automation tools. Within the project we developed Value-Based Scoring (VBS) model and 3 rewarding layers. VBS scores the customers from 1 to 5. The customers scored 1 being lowest, 5 being highest score. VBS model is occurring on instant time so that the customer’s status and rewarding layers defined currently. In addition to this, system defines which customers to be rewarded with which benefit of Loyalty Program depending on the calculation of VBS model based on customer value with-in certain time frequencies.

First layer is Action Based Benefits which aims to increase persistency. MetLife call center is the main channel for the customers whom offered specially according to their scores. Certain value based segments, potential groups and certain product groups are triggered via this layer for tactical offers. The action bases calls are: Uncollection, Retention, Cross-Sell, Auto-renewal, Contribution Increase

Second layer is Mass Brand Partnership Benefits aim to increase rNPS and Brand Health Score. Campaigns and benefits are presented on the MetLife Benimle web page, which all customers can simply follow and enjoy. Customers, by using their National ID and mobile phone number which is registered in the MetLife system, can get campaign code from the dedicated campaign page and benefit from. Brand Partnership campaigns are introduced and communicated to all active individual customers via SMS, E-mail and social media platforms.

And lastly third layer is Emotional Benefits which aims to create WoM effect and make customer feel special. For these layers Program’s target is to be present of everyday for our customers via engaging offers experiences. MetLife customers can benefit from a wide variety of privileges in fashion, travel, sports, entertainment, culture & arts, comfort and daily life needs.

MetLife Benimle celebrates all customers’ birthday and their MetLife anniversaries. Also the customers which are creating more value are being rewarded with special gift cheques. Beside this, the customers which defined as VIP -have the most highest score- are rewarded with experimentational and attractive benefits/gifts.

MetLife Benimle loyalty program reached and exceeded its goals and objectives in 2020. From the launch of the program on February 2020 to January 2021;

-We achieved 1,5% incremental persistency contribution from loyalty program (the main KPI is to have 1,42% persistency effect),
-Nearly 200.000 unique customers visited the MetLife Benimle website
--~9.000 of campaign codes given from MetLife Web page.
-More than 27.000 customers benefited from the program (except emotional benefits)
-Celebrated more than 1m customers’ birthday and MetLife anniversary
-Customers were offered at least 600.000 Turkish Lira advantage worth of gifts in 2020
-Between 18th May to 18th June, MetLife Benimle launch lottery campaign was realized that 30K MetLife customers participated and 310 customers were awarded with worth 140.000 Turkish Lira gift
-According to rNPS research, customers who benefit from MetLife Benimle have at least 50% more NPS score than the other customers

MetLife Benimle loyalty program has a very positive impact to MetLife perception and also creates more promoters that NPS score is significantly higher among the customers who are aware of MetLife Benimle.

The project was also a best practice of collaboration amongst different functions of the company and third parties.