The optimal ways to create exceptional consumer experiences for a credit cardholder change throughout the account’s lifecycle. That’s the premise of a new infographic developed by payments processor TMG.
The interactive visual, conceived by TMG Portfolio Management Executive Jennifer Davis, aims to inspire community financial institutions to rethink card programs from the consumer standpoint. It allows credit card issuers to click through five stages of the cardholder lifecycle for quick, easy optimization strategies at each phase – Product, Account Generation, Activation/Usage, Account Management and Service.
“When a credit union or community bank challenges me to help them boost the performance of their credit card program, I advise them to look at their product through the eyes of the cardholder,” said Davis. “Immediately into that exercise, it becomes obvious different cardholders want different things at different times. Executing the right strategies at the right time in the cardholder lifecycle is how the best issuers in the world generate such high levels of engagement and loyalty. It’s my hope this infographic will encourage cards teams to sit down and have real conversations about how their cardholders experience everything from product design to support and service.”
For expanded insight on what it takes to optimize a credit card program at each stage of the cardholder lifecycle, download Davis’ white paper, “Getting the Most Out of Your Credit Card Program” at www.tmg.global/expertise.