Add a credit card marketing program to your arsenal
If you’re not giving proper attention to the marketing of your credit or debit cards (or both), perhaps it’s time you did. Based on 2015 campaign results, customers utilizing Vantiv Card Marketing grew 82 percent faster than customers not using the marketing program services.
What could your card portfolio do with that extra growth?
Employing a marketing program to promote your credit and debit cards can have multiple advantages. Targeted cardholder – and potential cardholder – campaigns have the ability to extend your institution’s reach in the following ways:
Promote card activation
A card marketing campaign can be a good reminder for cardholders who are inactive or even infrequent users. Encourage these customers to activate and begin using their card more often by announcing user incentives like special offers and rewards with targeted card marketing.
Drive card usage
The leveraging of your offers and rewards through a card marketing program can prompt cardholders to use their card more frequently. More frequent use of your credit or debit card builds customer loyalty and increases your card program revenue.
Grow card program revenue
Growing transaction activity by creating more engaged cardholders with focused marketing increases profitability for your card program portfolio. In 2015, Vantiv debit usage-specific marketing campaigns added an average seven signature transactions per card each month, producing an RIO of 443 percent. A marketing focus on sales goals can also be a strategic solution for promoting and growing other key areas of your institution.
Build cardholder loyalty
Using card marketing campaigns to promote offers and familiarize your cardholders with the features and incentives of your card helps create a foundation for cardholder loyalty. Because confident cardholders use their card more often, not only will you find increased revenue, but invested cardholders will be more likely to further experience the additional products and services that your institution provides.
Extend your brand reach
Loyal, happy cardholders will be apt to consolidate their financial accounts, choosing your institution for further financial needs. Card marketing campaigns can increase card activation, usage, revenue, and loyalty while also promoting your other card products and financial services. Boosting your brand awareness with strategic marketing has the potential to grow other lines of business in addition to your credit or debit card portfolio.
Today, consumers are faced with such an overabundance of options that loyalty often takes a hit. Help your card services’ brand differentiation stand out in a highly competitive industry with a strategic debit and credit card marketing program. Giving your institution all the advantages of an in-house marketing team or an outsourced agency, Vantiv Card Marketing provides end-to-end campaign solutions and a complete calendar of promotional offerings. Help your card rise to the top of your cardholders’ wallets by keeping your card at the forefront of their minds with targeted card marketing.