With the right communications in times of economic uncertainty, FIs can nurture existing customer relationships and appeal to new consumers. We note three action items for card issuers based on recent insights from Ipsos.
Acquisition activity is heating up! See what's motivating cardholders to seek new cards and how Issuers can leverage cash back -- the most highly favored rewards currency.
An effective Early-Month-on-Book (EMOB) program can positively impact activation and early card use because when customers engage frequently within the first 90 days of card ownership, their long-term value is up to three-times greater.
Take a look at how issuers of cash rewards credit cards have quickly adapted to unexpected challenges in the financial landscape, aligning their products with current consumer spending patterns and positioning them as valuable financial tools with useful, practical benefits. These efforts may help to increase loyalty and encourage top-of-wallet behavior.
With examples from Mintel and research from McKinsey, we show how top financial brands are repositioning credit products to better connect with consumers.
Based on Auriemma Group research, these marketing tactics for card issuers may help boost second card in wallet use and elevate cardholder communications.
Based on our observations of the marketing for Green from Amex, we believe that Amex has executed a number of strategies that can be instructive to the relaunch of other entrenched financial services products.
Our team agrees that marketers should explore these strategies from Mintel in B2C campaigns and, to that end, we are building upon the Mintel findings by sharing insights from Media Logic’s experience.