- Understand your memberships’ specific needs. What features and benefits will make your card “top o’ the wallet”?
- Measure the success of your marketing programs. What is your penetration rate? You may have 100,000 members but if your penetration rate is below 20 percent, your marketing program probably isn’t as efficient as it could be. (more…)
Archive for the ‘card programs’ Category
With the recent national market trends in the payments industry, the smaller card issuers are struggling more and more. What this means is that to create a successful card program you must closely weigh all the options. Here are some that are worthy of consideration:
It’s no secret, todays lending market is in a turbulent state, making creating a successful card program no easy task. Doing so is now a 24/7 process, and because of this, Credit Unions need to take an active approach to implementing one. One way to start doing this quickly is to offer your cardholders 24/7 service.
Other ways include taking a look at your current card processor vendor by conducting a thorough review – are they doing the most they can for you? While doing this review, take stock of the resources you currently have, and what other ones would be needed to improve card performance.
Take a look at this webinar titled ‘Implementing a Strategic Plan to Maintain a Successful Payment Card Program.’ It features our own Managing Director Michael Cebrick, alongside Jim Craig, Vice President of Marketing, First Advantage Federal Credit Union. If you found this video useful, then make sure to head out to National Association of Federal Credit Union’s (NAFCU) Strategic Growth conference being held in Las Vegas on March 9-11, 2010. Michael and Jim will speaking at the conference together!
Click here for the Webinar
Register for the conference here: NAFCU Strategic Growth Conference