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May 27, 2011

  • News:  Marketing Help For Card Companies 

    A marketing company that helps customers target the appropriate audience for their product launched a new study initiative that is aimed at the credit card and insurance industry. The report is expected to help credit card companies become more successful in reaching their targeted audience with the right product at the right price. The report released by [x+1] shows that the best method for credit card companies to reach potential new cardholders is through online marketing initiatives. Card companies will be able to better understand how many individuals are searching for a new card and if they are "open to attractive offers." According to the report, 59 percent of the respondents said that if they were to search for a new card, they would do so online while 17 percent said they would do it by direct mail, 12 percent would visit a bank branch and 11 percent by telephone.

    With the results of the research, [x+1] will be able to give credit card companies greater insight on how to align their marketing promotions more closely to their customer's shopping behavior. The company said that in order to stay abreast with what's working in the two industries, the same rolling survey will be conducted on a bi-weekly bases and will solicit the input of 200 U.S. consumers. Results of the rolling survey will give credit card companies insight into how cardholders respond to marketing at various points in the buying decision making process. It will also provide a look at how online shoppers perceive brand names.

    Leon Zemel, Chief Analytics Officer for [x+1] said that it is critical that companies stay current with consumer spending habits if they are to maintain their competitive edge. Zemel noted that the new survey will give credit card companies a look at the shopper's "intent, consideration and attitudes" to assist them with improved online marketing and meeting the customer's needs.

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