Independent Banker - December 2022 - 26

the
" See what you can do with this... "
was a casual statement, but I threw myself
into learning the card marketing and product
management business. In two years, that same
portfolio grew by 100%, to over 500,000
cards and earned over $12 million-that
was the beginning of PaymentsEdge.
Lesley DeCator
General Manager of the PaymentsEdge
Marketing and Advisory Services at FIS
In the past, card marketing was primarily
communication- and education-based.
Today, card programs focus on offering
incentives, from sign-up to promoting
card usage. However, it doesn't matter if
you're looking at card marketing from the
past, present or future. I've learned that
the basics will always remain the same. It's
consistent communication, a strong call to
action, compelling incentives and excellent
cardholder service. The key to success
is careful planning, timely execution and
pivoting when situations change quickly.
COMMUNITY BANKS' CARD
MARKETING CHALLENGES
According to the 2021 Nilson Report, credit,
debit and prepaid card usage are rising, with
total card purchases predicted to generate
$12.9 trillion in 2025. As the customers' and
the market demand for credit and debit
cards continue to increase, community
banks struggle to fully understand their
card portfolios' dynamics and performance,
making it challenging to formalize and
execute a growth strategy. Failure to do so
means community banks are missing out
on one of the fastest ways to increase card
transactions-determining who isn't an
active, frequent card user and marketing
directly to those people.
Banks prioritizing innovative marketing
can leverage key performance indicators,
including average transaction amounts, when
customers use their cards the most, and the
high and low transaction counts to best align
their marketing efforts. Additionally, knowing
where cardholders shop or frequent the most
allows for tailored marketing and promotions.
The final challenge is executing a strategy
that uses effective, customizable and
profitable marketing programs to optimize
their portfolio with limited resources. It's
a lot for any bank to handle. However, the
following three steps can help you build a
robust card marketing program.
STEP 1: UNDERSTAND OPPORTUNITIES
AND DEVELOP A STRATEGY
Properly qualifying cardholders is critical to
cost-effective campaigns that have highresponse
rates. Occasionally, you should
communicate in a meaningful way with active
card users for retention purposes. But overall,
you'll want to prioritize underperforming
segments.
In the debit sphere, targeting new inactive,
long-term inactive, low and mid-tier users,
particularly within 90 days, drives the highest
response and ROI. For credit card portfolios,

Independent Banker - December 2022

Table of Contents for the Digital Edition of Independent Banker - December 2022

Table of Contents
Independent Banker - December 2022 - Cover1
Independent Banker - December 2022 - Cover2
Independent Banker - December 2022 - Table of Contents
Independent Banker - December 2022 - 2
Independent Banker - December 2022 - 3
Independent Banker - December 2022 - 4
Independent Banker - December 2022 - 5
Independent Banker - December 2022 - 6
Independent Banker - December 2022 - 7
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Independent Banker - December 2022 - Cover3
Independent Banker - December 2022 - Cover4
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