Direct has rewarded brokers’ clients with more than $486,000 in cash in just the first month of its home loan loyalty cash rewards program.
Last month, the non-major announced that existing and new Orange Advantage customers will receive 1% cash back based on monthly mortgage repayments of up to $3,000. ING
has now rewarded almost 32,000 clients of mortgage brokers.
“We’ve given back to one in every five customers who has been introduced to us through our broker partners. These customers are helping us to achieve our strategy of being the primary bank for Australians, and we are sharing our success with them while also building customer equity,” Mark Woolnough, head of third party distribution at ING
“We see our loyalty rewards program as a key contributor to our industry-leading Net Promoter Score, a measure of how likely a customer is to recommend us. Harnessing the power of your customers to act as your advocates is particularly critical to the broker market, and something that can be supported with some simple acts of engagement and appreciation.”
In the past six years, Woolnough says the non-major has given back $54 million to its customers through loyalty cash rewards.