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Trends in Credit, Debit and Prepaid Direct Marketing

  • ID: 605998
  • Report
  • October 2007
  • VRL Financial News Publishing
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A time-saving, single-source reference on the latest trends and marketing techniques to maximise your credit, debit and prepaid cards programmes.

This report will help you:

- Acquire customers more profitably with cutting-edge customer acquisition tactics including: mobile marketing, data analytics, permission marketing, green marketing and more.

- Keep your customers longer and cross-sell to them more effectively.

- Improve your marketing efforts, from traditional mass-media to more targeted and personal approaches offered by new media channels, e.g. social networking.

- Find out what your customers want and provide them with a more engaging experience.

- Improve your campaigns by addressing cultural and regional issues to you and your customers’ advantage.

- Apply innovative practices from other industries to your customer acquisition and retention plans.

- Identify opportunities for global expansion into new and lucrative territories, including Asia, South Africa and the Middle East.

- Save time – the report collates unique data and research from dozens of sources.

Convenience in a single, authoritative, time-saving volume

This report is the most comprehensive, up-to-date and authoritative reference of its kind. Why spend weeks or months searching for guidance on best practice marketing techniques from multiple fragmented media sources, when this single volume contains all the up-to-date authoritative insight you will need?

Detailed market overview, benefit from trends, statistics and more…
Whether you operate in the mature markets of the U.S. and Western Europe, or growth markets within Asia and the Middle East, you’ll find essential insight into such areas as: global media and marketing spend by region; annual sales; the top banks in different regions; marketing volume by channel, trends in offer types (from balance transfers to rewards cards) as well as changing patterns in consumer behaviour and their impact upon the marketing strategies of card issuers, including:

-Direct mail open rates.

-Number of credit cards per user.

-The growing role of the internet in finding the right card.

You will also find a useful overview of the range of cards in the market today, including their strengths and current market share. The report also traces the rise in new types of card such as reward, affinity, cashback, contactless, corporate and green cards.

The wider market
The report looks at the wider competitive issues, challenges and legislative changes faced by every marketer. For example, what are the major shifts happening in consumer behaviour right now, and how can you better align your marketing strategies to match these shifting expectations?

Learn from the evolving best practices of other industries
In looking to other industries, we can learn about a new world of customer acquisition and retention tools. And as competition increases, it is essential that these innovative new techniques are applied to increase your market share in the cards industry. For example, how can you use social networking as an effective customer engagement tool? What about online, mobile, green and permission marketing? How can you improve your use of data with data mining and analytics tools? What marketing mix models will best match the goals of your organisation?

Convenience in a single, authoritative, time-saving volume
This report is the most comprehensive, up-to-date and authoritative reference of its kind. Why spend weeks or months searching for guidance on best practice marketing techniques from multiple fragmented media sources, when this single volume contains all the up-to-date authoritative insight you will need?
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Executive Summary

Chapter 1: International industry overview: 2001–06
- Leading card issuers worldwide
- Total credit card marketing spending
- Marketing volume by channel
- Television
- Direct mail
- Internet/online marketing spending
- New interactive channels
- Data analytics
- Trends in offer types
- Trends in consumer behaviour

Chapter 2: Types of cards and loans
- Affinity/co-branded cards
- Cash back cards
- Charge cards
- Credit cards
- Corporate cards
- Rewards programs
- Going green as a marketing strategy
- Debit cards
- Contactless cards
- Contactless transit payments
- The Blink contactless card
- Mobile payment systems
- PayPal and other options
- Prepaid cards
- Gift cards
- Private-label cards
- Smart/contactless cards

Chapter 3: Challenges
- Competing for the card customer
- Technological issues
- Media and marketing
- The effects of change
- Trend 1: Are we approaching the end of a 15-year boom period?
- Trend 2: What has been the effect of consolidation in the US cards business
- Trend 3: What is the impact of interstate bank consolidation?
- Trend 4: As credit cards move toward becoming the dominant channel of unsecured consumer credit – and as a few major issuers grow to dominate the credit card industry – is new legislation ahead?
- What have credit card marketers learned from their mistakes, including the interest rate squeeze of the late ’70s/early ’80s and moving from free to fee and back to free again, as well as various delinquency debacles over the last 25 years
- The role of credit card issuers as “associations”
- Legislative issues
- Fair credit legislation
- Consumer privacy
- International issues
- Middle East/Islamic markets
- South Africa
- China
- Japan
- Other

- Chapter 4: Customer acquisition strategies
- Major acquisition channels
- Direct selling channels
- Mass/brand marketing
- Direct mail
- Retailers market differently than banks
- Direct response television (DRTV)
- Online marketing
- Mobile marketing
- Take-ones/events/on-street promotions
- Telemarketing/voice messaging
- Key acquisition tactics
- Creative
- List tactics
- Data analytics

Chapter 5: CRM strategies
- Activation/reactivation
- Balance transfer/consolidation
- Credit and application scoring
- Cross-selling/upselling
- Customer service/satisfaction
- Loyalty/rewards programs
- Merchant-specific promotions
- Offers
- Opt-in vs. opt-out
- Double opt-in – worth the trouble?
- Partnership marketing
- Ongoing customer messaging
- Personalization techniques
- Strategies for increasing spending per account

Chapter 6: Trends in metrics/ measurement
- Start with good data
- Net Promoter ScoreTM
- Marketing performance dashboards
- Cost per acquisition
- Credit scoring
- Cross-selling/upselling
- Customer retention
- Customer satisfaction
- Lifetime value
- Return on customer
- Rewards programs
- Online
- Email
- Website
- Pay per click
- Multi-channel integration
- Return on investment
- Word of mouth/viral marketing

Chapter 7: Relevant best practices from other industries
- Social networking
- Permission marketing
- Mobile marketing
- Green marketing
- A single source of data
- Data analytics
- Data mining
- Marketing mix models
- E-newsletters/email marketing
- Data co-ops
- Personalization
- Creative
- Digital print-on-demand
- Online landing pages
- Registration/co-registration

Chapter 8: Conclusion
- The card conundrum
- Legislation a tall hurdle
- Very targeted marketing
- The acquisition process
- CRM and retention
- Measuring success
- A look outside the industry
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Offering a highly practical approach, the report advises you on best practices in these key areas:

1. Customer acquisition strategies
- How can you better define customer types to improve your targeting?
- What are the major points to consider when launching an online or mobile marketing campaign?
- How can events, promotions, telemarketing and voice messaging be aligned to drive new business?
- What’s next after the 0% offer?

2. Customer retention strategies
- 15 reasons customer retention strategies fail and 15 strategies for success.
- What are the best practices in activation/reactivation?
- What opportunities can you use to maximise cross-selling and up-selling?
- What are the pros and cons of opt-out, opt-in and double opt-in?
- How are loyalty cards and rewards-based programmes raising the bar of consumer expectation? How can you maximise the huge potential of your loyalty programme to create a complete customer profile and clear competitive advantage?

3. Trends in customer acquisition and retention metrics and measurement tools
- With best practice examples from major banks such as Citibank, this section includes invaluable advice on: marketing performance dashboards, calculating lifetime value, loyalty, web and email metrics, as well as how to apply Fred Reichheld’s Net Promoter ScoreTM.
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Josh Moritz has over 25 years experience in direct and interactive marketing for the B to B and B to C worlds, online and off-line. Co-Owner/Managing Partner of Customer Growth, he teaches direct marketing at New York University and the American Management Association. He and his company have provided consulting and program execution for clients like Citibank, Chase, Washington Mutual, Bank of NY, American Express, Bozano Bank, KeyCorp Bank, DLJdirect, MasterCard International, Novartis, KeySpan Energy, Remy Martin, Weekly Reader and Colgate Palmolive. Prior to Customer Growth, he owned DMTG, a direct marketing agency that was acquired by Earle Palmer Brown in 1999.

Peter Blau is Co-Owner/Managing Partner of Customer Growth. Prior to Customer Growth, he was with Blau Marketing Technologies, most recently running the European network called Blau Tequila. He has worked on accounts like Citibank, Intuit, VantisLife, Chase, AOL, Oxford Health Insurance, ITT Hartford, Fleet, Gerber Life Insurance, The Prudential, Cigna, Diners Club, Smith Barney, First Chicago, Bell Atlantic, IBM, Charles Schwab, Dreyfus Funds, MCI Worldcom, Pacific Bell and Visa. He has been honoured with direct marketing awards, including the John Caples Award, a Gold Echo from the Direct Marketing Association and elected as the 1997 Chairman of Direct Marketing Days/New York.
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