The customer needed to drive additional debit card usage, grow interchange revenue, and strengthen their “Primary Financial Institution” status.
It was decided to execute a “Treat Yourself” debit card direct mail marketing campaign to their cardholders.
The campaign targeted underperforming debit cards, specifically those performing 1-5 POS signature transactions per month. Cardholders were incentivised to elevate usage to 15 or more POS signature debit card transactions per month when they would be rewarded with a free movie ticket if they reached the goal.
The campaign was delivered across six financial institutions. Every institution’s direct mail piece was customized with their individual branding. Direct mail postcards were sent out to the 26,000 targeted cardholders.
This “Treat Yourself” debit card marketing campaign ended up being a real treat for the financial institutions. After six months, they achieved the following results:
The campaign costs were kept low by virtue of amortizing the fixed costs of design and management across multiple financial institutions, by pooling volume to achieve bulk discounts on printing and mailing, and by precisely targeting the incentives to a carefully selected audience.
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*Success story courtesy of www.twosides.info