Question

Topic: Advertising/PR

How To Create A Mini Credit Card Campaign?

Posted by Anonymous on 9/21/2011 at 3:23 AM ET 50 Points
I am the manager in a small bank in far country and our bank is trying to rapidly increase the credit card number issued to customers.
We are thinking to run a campaign until the End of the year with the concept "Bring a Friend" and have two things:
1. have a chance to win an IPod till Christmas
2. Have a bonus of 20Usd$ on your account and your friend's account.

How does it look? Is it a good campaign to increase the number of cardholders?

Thank you all.
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RESPONSES

  • Posted by Jay Hamilton-Roth on 9/21/2011 at 8:51 AM Accepted
    Also - are you looking for active card holders? Card holders who pay off their balances each month or those that maintain a balance? What about offering easy-to-qualify-for low-limit credit cards for teens/college students? What about paying the balance off for each month's winner?
  • Posted on 9/21/2011 at 11:03 AM Author
    Thank you both for your replies,

    One thing to mention, it will be like withdraw, so there is only a limited numbers of IPods. For the bonus of 20USD again there is a condition where the customer must make a purchase of a certain amount. So card will be activated and used to get a 20USD.

    We want this campaign to bring new customer, number of issued card is really important, and we are hitting two birds with one stone, as with 20USD bonus is intended also to increase usage and activation.

    But want to ask how does it sound for a bank to give cash bonuses directly to the customer? Especially where the campaign is bring a Friend. Does it look like we are buying your friend with cash, or it looks like a reward?

    Thank you for your answers.
  • Posted on 9/21/2011 at 12:05 PM Accepted
    I think giving cash is tacky -- especially for a bank. It feels like a bribe for ratting out my friend. You can do better.

    How about something like a $20 gift card to a well-known local store? Or a t-shirt created by a local designer? A "thank you gift" is better than cash. Even better if you can find a gift that has higher apparent value than its cost to you. (Example: A gift card at a local coffee shop that will allow the buyer to get a cup of coffee every day for a week/month will probably cost you less than its perceived value.)
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