the startups.com platform about startups.comCheck out the new Startups.com - A Comprehensive Startup University
Education
Planning
Mentors
Funding
Customers
Assistants
Clarity
Categories
Business
Sales & Marketing
Funding
Product & Design
Technology
Skills & Management
Industries
Other
Business
Career Advice
Branding
Financial Consulting
Customer Engagement
Strategy
Sectors
Getting Started
Human Resources
Business Development
Legal
Other
Sales & Marketing
Social Media Marketing
Search Engine Optimization
Public Relations
Branding
Publishing
Inbound Marketing
Email Marketing
Copywriting
Growth Strategy
Search Engine Marketing
Sales & Lead Generation
Advertising
Other
Funding
Crowdfunding
Kickstarter
Venture Capital
Finance
Bootstrapping
Nonprofit
Other
Product & Design
Identity
User Experience
Lean Startup
Product Management
Metrics & Analytics
Other
Technology
WordPress
Software Development
Mobile
Ruby
CRM
Innovation
Cloud
Other
Skills & Management
Productivity
Entrepreneurship
Public Speaking
Leadership
Coaching
Other
Industries
SaaS
E-commerce
Education
Real Estate
Restaurant & Retail
Marketplaces
Nonprofit
Other
Dashboard
Browse Search
Answers
Calls
Inbox
Sign Up Log In

Loading...

Share Answer

Menu
Business Development: Acquisition of merchants that accept Loyalty/Reward point for a large retail bank.
JB
JB
Joy Broto Nath , Global Corporate Trainer & Strategist answered:

Here are some suggestions for approaching large merchants to accept a bank's reward points on their checkout sites:

The key contacts at merchants will typically be in their Business Development, Partnerships/Alliances, or Merchant Services departments.

Start by researching the specific merchant online to identify the executives leading these departments. Try to find someone at the director level or above via their website or LinkedIn.

Cold call or email the targeted executive explaining your bank client's loyalty program and interest in partnering. Mention potential increased customer spending from bank customers redeeming points.

Emphasize any competitive advantage your bank's program offers over others (e.g., a large customer base, higher point values, ease of redemption process).

offer to provide detailed program and customer data to demonstrate potential revenue opportunities for the merchant.

Consider engaging a partnership broker familiar with merchant and bank loyalty programs. They may have existing contacts and be able to help position the opportunity.

Be prepared to discuss potential costs for the merchant to integrate (if any) and revenue sharing models if points are redeemed for purchases.

Follow up proactively and be flexible; the sales cycle may be longer given the internal approvals needed. Offer site visits if they are helpful.

Leveraging an experienced broker and targeting the right executives with compelling customer and revenue data gives you the best chance of success.

Talk to Joy Upvote • Share
•••
Share Report

Answer URL

Share Question

  • Share on Twitter
  • Share on LinkedIn
  • Share on Facebook
  • Share on Google+
  • Share by email
About
  • How it Works
  • Success Stories
Experts
  • Become an Expert
  • Find an Expert
Answers
  • Ask a Question
  • Recent Answers
Support
  • Help
  • Terms of Service
Follow

the startups.com platform

Startups Education
Startup Planning
Access Mentors
Secure Funding
Reach Customers
Virtual Assistants

Copyright © 2025 Startups.com. All rights reserved.