Jakkapan Rattanapet, Managing Director of World Rewards Solutions, David Dennis, Operations Director of Airport Made Easy and Monica Chan, Managing Director of Datatrade Group, Hong Kong, recently met at Banyan Tree Bangkok to sign a memorandum of understanding (MOU) outlining the three global service providers’ collaboration to expand the reach of their upscale lifestyle solutions around Asia.
World Rewards Solutions’ partnership with global brands such as Datatrade in Hong Kong and Airport Made Easy is the first of its kind in Thailand’s lifestyle service industry and will strengthen the company’s service offering. Another goal of the partnership is to grow Asia’s lifestyle services market and further the development of knowledge exchange to stay ahead of the competition.
The recent MOU creates two new strategic partnerships for World Rewards Solution. Datatrade Hong Kong will be the exclusive reseller of loyalty program solutions while Airport Made Easy will contribute to expanding the customer base in Asia and drive business growth as an exclusive partner.
The launch of World Reward Solutions’ collaboration with world-class allies will advance the entire lifestyle service industry by focusing on providing the most innovative digital solutions to quickly and accurately meet the demands of high-end customers. By understanding the importance of customer relations management (CRM), World Rewards Solutions aims to increase the use of its services among business travelers in Asia to achieve the revenue target of THB 500 million. World Rewards Solutions also has the goal to become Thailand’s leading provider of a complete online and offline program cycle by 2020.
Mr. Jakkapan Rattanapet, the founder and managing director of World Reward Solutions has revealed that his lifestyle service company, a provider of a complete-cycle rewards program, was launched to seize the promise of an industry currently valued at $4 billion globally with an average annual industry growth rate of 4%. This rapid growth indicates that consumer behavior today places growing importance on customized lifestyle experiences, especially among high-end customers. Reflecting this, World Reward Solutions’ service emphasizes the importance of CRM which means building a strong relationship with organizations and premium clients, often including foreign business travelers coming to Thailand from China and other countries around Asia.
As the first business in Thailand, World Reward Solutions uses a digital solution to look after customers with a specially created platform which can analyze client demands to custom-design a set of services. This includes creating reward and loyalty program solutions which match the purpose of the organization all while setting it apart from other service providers in the market.
“Today, a management tool which helps companies build a good relationship with their customers is used to get ahead in a highly competitive market. Especially an organization which looks after high-end, ultra-wealthy customers has clear-cut, detailed CRM needs. We are confident that we will meet this demand and can make a decisive difference for our clients through our expertise,” Mr. Jakkapan explains.
What makes World Reward Solutions stand out is its strong focus on ‘lifestyle service’ which is provided by a team of experts highly experienced in dealing with HNWIs (high net worth individuals). Another unique aspect of World Reward Solution is its collaboration with world-class allies to create an unlimited service offering tailored to the very specific demands of customers which is available around the country. This includes the personal assistant service and car and driver rental service at airports around the world to cater specifically to the needs of traveling customers.
Now, World Reward Solutions is ready to reveal an innovation of digital lifestyle services in Thailand by partnering with Datatrade Hong Kong, a company which has more than 35 years of experience with organizational customer loyalty programs and has received numerous prizes for its‘Smart Loyalty Hub’ in Hong Kong and China. This technology will enable the real-time analysis of customer information which in turn will make it possible to design a customized service program which meets the lifestyle demands of every customer and can help build brand loyalty. On top of this, accessing the services will become more convenient as the communications channels with the customers are now faster. For example, there is a network of information storage systems which includes leading hotels, restaurants at Michelin Star level, vehicle services at airports around the world and other exclusive activities.
In terms of marketing World Reward Solution, the emphasis currently lies on using the most cutting-edge digital platform to target a market which is primarily made up of B2B clients. Today, organizational sales make up about 80% with a strong increase in the segment of foreign business travelers coming to Thailand from countries including China, Korea and others in the region.
The emphasis is also on co-branding and co-partnership with world-class brands to expand the company’s customer base. This business area will be launched by the third quarter with the goal of becoming a leader in the digital rewards solutions sector which caters to high-end, ‘mass affluent’ and high net worth individuals. The first year of business will be dedicated to growing the company’s customer base in the country. Following this, the plan is to tap into the markets of neighboring countries with new branches in Singapore, the Philippines and Indonesia to achieve the goal of a THB 500 million turnover by 2020.
“We may not have branches around the world, but our team’s high level of experience, as well as our global partnerships, provide us with a network which permits us to perfectly look after our customers both inside and outside of the country. Paired with the excellent quality of our specially developed customer service system, we can cater to the needs of customers in each and every segment. This gives us the confidence to be able to communicate and collaborate with world-class brands with ease by using a strategy based on localized services and a global network,” Mr. Jakkapan concludes