Hit Your Desired ROI With These Credit Card Marketing Strategies

 Michie Victoriano
  Jun 13, 2018

Competition within credit card companies is tough. Consumers have varying needs and spending habits, and it is important for issuers to find their edge against their competitors.

Because of this, credit card companies have to be strategic in offering benefits for their consumers. In order for a company to hit their desired ROI, here are some credit card marketing strategies that can draw new and returning customers:

Practice personalized marketing

Brands that are attuned to the needs of consumers receive good business, as relevant offers attract more customers. Many customers find an instant “connection” with businesses when their needs are met. And this is why personalized marketing works.

When companies leverage spending habits, interests, and other demographic and behavioral information of their target market, their products will be welcomed all the more. It’s a win-win strategy.

Have a strong rewards program

Who does not like being rewarded? The world’s biggest issuers offer the biggest rewards. A company’s rewards program is a good foundation for marketing, as it reminds customers how their spending can be beneficial.

Some credit card companies reach success by giving airline miles, shopping discounts, and even exclusive passes to hotels and other locations. While having a great rewards program is helpful for the company’s marketing, other benefits like digital payment options, rebates, and more can attract a bigger clientele. Having a spend-and-get campaign targeted at new clients can encourage them to make every day and big purchases.

Offer seasonal promotions

Aside from regular rewards and offerings, companies can widen their base by offering seasonal promotions. When companies take advantage of seasonal spending behaviors of their clients, their impact is maximized.

For example, during June, companies can encourage vacation spending with rewards. In August, companies can offer back-to-school offers. You can also include strategically-timed balance transfer promotions (e.g. January for transfer of holiday balances, August/September for parents or students to get ready for the coming school year).

Stir loyalty by utilizing marketing platforms

Having a website, active social media channels, and even a mailing list all help consumers stay loyal to the brand. Nowadays, active web and social media presence make a company appear reliable and accessible to their market. It can also attract new customers while deepening loyalty with the current clientele.

Tap into your market’s social conscience

There are credit card companies that tap into their customers’ social conscientiousness to sell their services. Credit card companies can participate in worldwide or local issues like how American Express donates 1% of every purchase to a charity that helps the fight against HIV/AIDS. When customers know they are giving back while they spend, they tend to make more purchases, as they feel that their spending is done for a bigger cause.

Have themed card designs

Credit card companies have long utilized the popularity of brands, sporting teams, and trends to market their accounts. Themed card designs are great for collectors who will turn to be loyal customers.

Credit cards that feature a person’s favorite basketball team can show team spirit, or a card that features one’s favorite cartoon character shows one’s interest. Themed marketing shows that there is a card fit for everyone.

Share your expertise

When you regularly publish informative blog posts on your website, you start building deeper trust with your current consumers and attract new customers. It’s a minimal investment that has the potential for high returns in terms of gaining their loyalty.

Create a content calendar to make sure that you post on schedule without duplicating the topics you already covered. Keep in mind that your blog posts should reflect your audience’s needs and wants. You can answer their questions or provide how-tos.

Lastly, to reach a wider audience, you should also share your blog posts on other social media platforms like Facebook, Twitter, and LinkedIn.

Invest in video marketing

Customers today are drawn to video content. While reading articles can spark curiosity, videos are much more attractive and can keep their attention longer. Videos are a great way for consumers to hear about services, products, and brands.

For instance, creating video content that helps consumers get a better idea of how a credit card can help in their daily lives will aid attracting new customers and building customer loyalty. Videos are easy to share and view too.

When it comes to promoting a product, a company gets good results when they put enough effort to do so. These marketing campaigns do not have to cost much. It only needs to be done in a smart and strategic way.

Hit Your Desired ROI With These Credit Card Marketing Strategies

Michie Victoriano

"I am a Marketing Research and Analyst with more than 8 years’ experience in Marketing, Research, Analytics and Online Marketing; with a 3 years’ experience in Search Engine Optimization. Currently working for grit.ph and avaris.io. Enjoys playing video games, basketball and loves coffee too much."

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