Recharging Credit Card Marketing to Meet Evolving Consumer Expectation
Create one-to-one conversations and long term relationships with your customers.
Lead the charge! According to a recent study by Epsilon, more than half of consumers surveyed were unsure of what credit card company they were going to use when opening up a new account. This represents a huge opportunity for credit card marketers to engage these undecided consumers.
The survey of over 180 consumers who recently opened up a new credit card uncovered the experience throughout the selection process. A cross-section of a larger Epsilon survey of 1500 US consumers, the study was part of a comprehensive listening exercise designed to explore the concept of Customer Experience Marketing, an approach to deliver relevant interactions that anticipate and respond to the many ways consumers want to engage, shop and buy today. The study gathered data across multiple product categories including televisions, computers, hotels, auto insurance, mobile devices, communication services and credit cards.
Some key findings from Epsilon’s credit card survey:
• Only 34% of consumers surveyed definitely knew which company they were going to use when they opened up a new credit card;
• Over four in ten consumers chose a company with which they already had accounts;
• The most influential sources of information were friends and family, followed by a financial advisor, brand websites, and product review websites
Fill out the form on the right to download this research.