Use activation campaigns to develop engaged and profitable cardholders
No card is profitable until it’s used. Therefore, it’s critical to get cards activated – and in use – as soon as possible after your cardholders receive them. Activation is a necessary first step in what can become a fruitful, long-term relationship with your cardholder, and it helps ensure your portfolio is composed of active, highly engaged consumers.
Where to start? By making the best use of the data you already have to identify, target and make personalized offers to spur cardholders to activate and, ultimately, use your card.
Identifying Inactive or Unactivated Cards
With the help of leading analytics tools, financial institutions can easily identify the cards that have never been activated or are not in use – and help benchmark activation rates against peers.
Determining Which Cardholders to Target
New research from CEB TowerGroup outlines how consulting support can help define a clear and actionable strategy that increases revenue and deepens cardholder engagement. According to the report, issuers of all sizes have the ability to know their cardholders better. Knowing cardholders better leads to actionable insights that may help grow business and generate profitability.
