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.
Now, adding to Citi’s pandemic support options, the brand allows ThankYou Points to be used to pay a credit card minimum payment, an offer that appears to be a first amongst the competitive set.
Research shows that co-brand programs are struggling to demonstrate relevancy of rewards. See what the data, including insights from the grocery sector, can teach us about bolstering loyalty.
When Walmart and Capital One partnered to create the new Capital One Walmart Rewards Credit Card, they did a great job of keeping the marketing simple. We were pretty impressed with the clean and clear materials designed to help with migration, acquisition and EMOB communications.
Customers want innovation in loyalty and rewards, but most credit unions are not prioritizing these programs. Beyond an ability to meet customer expectations, there are many reasons CUs should change this right now and give loyalty and rewards more attention.
With deep market saturation, continual launch of new programs and reinvention of existing programs, there is a high degree of churn and upward pressure on brands' credit card reward programs. However, these marketing communications create opportunities to build customer loyalty.
Contrary to popular belief, travel reward credit card offers are flying high. Here are just a few of the trends that are "in the air" this busy summer travel season!
The Wall Street Journal recently reported that credit scores have reached a record high and that “the average credit score nationwide hit 700 in April.” We make a few guesses about what that means for payment cards and card marketers.
As mobile and loyalty both continue to gain momentum through 2017, they’ll require fresh thinking from brands, including financial services companies. We agree with Social Times: “The strategy needs to go beyond just having an application or a stagnant loyalty program.” Thinking on other marketing fronts – such as social media and personalization – must evolve, as well.
Many financial institutions invest in ongoing marketing campaigns that target cardholders who are simply carrying the wrong credit card. We explain how this happens and how to fix it, including tactics that increase spend, share of wallet and customer satisfaction.