With so many different credit card options to choose from, some consumers may seem a little overwhelmed at times.
In those instances, it is the credit card provider who offers the best deals that will oftentimes come out the winner, especially in a day and age when many consumers are watching their spending habits.
For credit card providers, the right marketing message can oftentimes be what wins over a consumer, especially if that individual, family or business has several options in front of them.
Get Your Message Heard
In order to best spread your message to potential consumers, credit card providers should remember to:
- Stand out from the crowd – Although the flood of credit card offers via the mail etc. ended a few years back, millions of Americans still get pitches via regular mail and email. With consumers having so many options to choose from, you need to make sure your offer rises to the forefront. For starters, maybe you are offering consumers a balance transfer option? As Jeffrey Weber of SmartBalanceTransfers.com notes, “The amount that can be saved varies from person to person. The key reason savings vary is interest rates. People with higher interest rates clearly stand to benefit the most from 0% rates. However, monthly payments also influence how much can be saved. Paying more every month decreases your overall savings, but it is clearly the best thing to do.”
- Get social – Another way to get your credit card message out to people is by being social. While many companies have discovered the importance of marketing their products and services via social media, others still are a day late and a dollar short. In order to reach more people, turn to your Facebook, Twitter and Google+ pages for starters (if you don’t have some or any of these, start now). With a Facebook fan page, you can not only keep your current and potential customers informed of rewards programs, balance transfers, new offers and more, but you can also use poll questions to gauge what customers are looking for when it comes to products and services. With a Twitter page, you can share links to credit card industry analysis and more. Google+ is also a good avenue to provide information on financial trends in the credit card industry. Most importantly, make sure you keep your social sites regularly updated, along with answering consumer questions in a timely and proper manner;
- Think outside the box – Lastly, don’t be afraid to try some other marketing techniques. Mobile marketing is growing by the day, are you doing it? Are you still active when it comes to networking at conferences? These can serve as a good opportunity to meet others in the business and learn some marketing pitches that you might not be currently using. At the end of the day, always think about how you can stay one step ahead of the competition when it comes to marketing your card.
With 2015 just around the corner, take the time now to review your marketing efforts, seeing what is working and what needs a little fine tuning.