Method and system for retaining customer loyalty

• US 7,831,467 B1
• Filed: 10/17/2000
• Issued: 11/09/2010
• Est. Priority Date: 10/17/2000
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Konen, Christopher James Sr., Keane, Matthew Joseph, Budischak, Elissa, Lefebvre, Christopher R.
• Primary Examiner(s): Boveja; Namrata
• Application Number:
  US09/688,694
• Time in Patent Office: 3,675 Days
• Field of Search: 705/35, 705/14
• US Class Current: 705/14.1
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0224 based on user history

Abstract

A system and method for providing incentives to customers where the incentives are tailored to the customer'"'"'s needs and expectations while achieving profitability to the provider are presented. The present invention determines a set of incentives based on customer segmentation, card segmentation, call type as well as other factors. Upon receiving a request for termination or other request, the customer may be routed to an appropriate person, department, or group. Information regarding the account may be identified and retrieved and the customer may be verified. Based on customer payment history and other information, the customer segment may be identified. Incentives are then determined based on customer segmentation data, product information, and call type. These incentives are offered to the customer for approval. If the customer does not accept the incentive, other sales opportunities may be offered to the customer in an effort to retain customer loyalty.

Claims

1. A computer implemented method for providing one or more tailored incentives to a customer in response to a customer request, the computer implemented method comprising the steps of:

receiving a request from a customer, wherein the request is received by a provider or provider representative;

retrieving account data associated with the customer in response to the request where the account data is displayed on a graphical user interface, wherein the account data is verified for the customer;

identifying the request as a request type from a list of predetermined request types, at a type module, where the request type identifies the customer'"'"'s current situation;

identifying the customer as a customer segment, at a customer segment module, where the customer segment identifies the customer'"'"'s past behavior;

identifying one or more incentives, at an incentive module, based on the request type, the customer segment and one or more profitability factors associated with the provider of the one or more incentives; and

offering the customer at least one of the identified one or more incentives for retaining the customer in response to the request, wherein the request is a request to terminate a relationship with the provider;

wherein the steps of identifying the request as a request type, identifying the customer as a customer segment and identifying one or more incentives are performed in response to the step of receiving a request from a customer; and

wherein the one or more incentives comprises at least one product or service offered by a financial institution.

2. The method of claim 1, wherein the step of identifying the customer as a customer segment, further comprises the step of:

assigning a value to the customer based on at least one of customer payment history, customer payment habit, customer behavior data and credit bureau score.

3. The method of claim 1, wherein the step of identifying the customer as a customer segment, further comprises the step of:

considering information related to at least one of customer delinquency data and customer attrition data.

4. The method of claim 1, further comprising the step of:

offering the customer another one of the identified one or more incentives for retaining the customer in response to the request.

5. The method of claim 1, wherein the step of identifying one or more incentives further comprises the step of:

applying one or more restrictions on the one or more incentives based on the one or more profitability factors.

6. The method of claim 1, wherein the request comprises one or more of a telephone call and Internet communication.

7. The method of claim 1, wherein the one or more profitability factors comprise one or more of customer payment delinquency and customer ability to pay.

8. The method of claim 1, wherein the step of identifying the request further comprising the step of:

identifying a product associated with the customer, wherein the one or more incentives comprises an adjustment to the product.

9. A computer implemented system for providing one or more tailored incentives to a customer in response to a customer request, the computer implemented system comprising:

a graphical user interface that displays account data associated with a customer, in response to a request from a customer, wherein the request is received by a provider or provider representative and wherein the account data is verified for the customer;

a type module for identifying the request as a request type from a list of predetermined request types, where the request type identifies the customer'"'"'s current situation;

a customer segmentation module for identifying the customer as a customer segment, where the customer segment identifies the customer'"'"'s past behavior; and

an incentive module for identifying one or more incentives based on the request type, the customer segment and one or more profitability factors associated with the provider of the one or more incentives and wherein the customer is offered at least one of the identified one or more incentives for retaining the customer in response to the request, wherein the request is a request to terminate a relationship with the provider;

wherein identifying the request as a request type, identifying the customer as a customer segment and identifying one or more incentives are performed in response to receiving a request from a customer; and

wherein the one or more incentives comprises at least one product or service offered by a financial institution.

10. The system of claim 9, wherein the customer is assigned a value based on at least one of customer payment history, customer payment habit, customer behavior data and credit bureau score.

11. The system of claim 9, wherein the customer segmentation module considers information related to at least one of customer delinquency data and customer attrition data.

12. The system of claim 9, wherein the customer is offered another one of the identified one or more incentives for retaining the customer in response to the request.

13. The system of claim 9, wherein one or more restrictions is applied on the one or more incentives based on the one or more profitability factors.

14. The system of claim 9, wherein the request comprises one or more of a telephone call and Internet communication.

15. The system of claim 9, wherein the one or more profitability factors comprise one or more of customer payment delinquency and customer ability to pay.

16. The system of claim 9, wherein the request module further identifies a product associated with the customer, wherein the one or more incentives comprises an adjustment to the product.