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Have you seen The Marketing Operations Playbook?

Learn the insider's tricks and techniques to super-charge your company's marketing operations, build up your market share, make more sales through repeat business and customer loyalty, and prove your marketing's true worth through analysis and reporting.

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Social media improves cardholder engagement

Credit card issuers have been seeking new ways to drive cardholder loyalty and engagement as their market share has been under threat from both debit cards and emerging payment types (such as mobile wallets and apps), according to Auriemma Consulting Group, whose latest research reveals that social media could be a significant channel for improving cardholder engagement.

The company's survey found that 71.7% of credit cardholders already use social media, and its usage is increasing daily among younger and higher-income cardholders. However, despite strong cardholder penetration of social media across the board, only 13.8% of consumers said they were subscribed to their credit card issuers' Facebook pages, and 68% of the cardholders who had done so said they had not yet interacted through the channel (i.e. responded, replied, or shared a message). Card issuers have clearly yet to solve how best to use social media to drive increased engagement and loyalty.

The research also showed that consumers feel they need to see clear and tangible value in order to subscribe and engage with credit card social media pages. Consumers were most interested in the ability to contact customer service through social media (34.1% incidence rate), redeem exclusive rewards/special offers (32.5% incidence rate), and sign up for cardholder subscriber events (30.1% incidence rate). These benefits would provide clear and compelling reasons for consumers to engage through social media channels.

"Social media is a huge opportunity for issuers, given its strong cardholder penetration", said Matt Simester, managing director for ACG. "Social media provides a way to drive increased engagement and usage amongst cardholders, and is best suited as either a mass servicing or marketing channel, as one-on-one interaction remains difficult to accomplish. To drive stronger interest and engagement with social media, exclusive and frequent offers are key, which will also serve to differentiate issuers from the competition in an increasingly competitive marketplace. Issuers need to start spending as much time on engagement through this channel as phone and branch based services."

Sources: Auriemma Consulting Group / The Marketing Factbook.
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Have you seen The Marketing Operations Playbook?

The Marketing Operations Playbook walks you step-by-step through the techniques, metrics, reporting, analysis, marketing models, technologies, tools and innovations for successful marketing strategies - both traditional and emerging - with expert guidance from thought leaders in every major market.

Find out the best ways to gather, analyse, and act on customer data to increase profitability, build your brand, empower your customers, beat the competition, reduce churn, and increase customer profitability. This is the marketing book you can't afford to be without.

Find out what works - and what doesn't - and who's succeeded, and how they did it. See how the world's top brands keep their competitive edge against all odds.

This comprehensive and practical guide to the latest ideas in marketing operations hands you over 200 packed pages of strategy, best practices, do's and don'ts, practical know-how, facts and figures, and ideas to optimise your marketing strategy, boost sales, market share, increase ROI and profit.

This book aims to hand you all the facts, figures and research data you need for the best decisions for a more profitable, more engaging marketing strategy. It also highlights all the facts, forecasts and trends identified by our experts from the global Marketing Factbook's vast database of market data, news, studies, research and articles, and presents you with an invaluable library of ideas and practical support you can call upon at will.

With The Marketing Operations Playbook at your side, you'll gain to a true goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, research and market data, plus all the supporting arguments you need to build a solid, profitable marketing strategy: All the know-how, strategies and ideas you need to get your own Marketing Playbook right, first time.

Get it on Amazon (Kindle/Print)