Credit Card Study to Evaluate Direct Marketing Offers

Issue
To assess share of wallet, loyalty / share in terms of consumer’s method of payment behavior, type of credit card (MasterCard versus Visa etc.) versus competition in order to understand what makes a consumer decide to use one payment method versus another.

Action
We conducted a survey among 1,000 credit card consumers and segmented them as to their needs, wants and motivations for credit card usage.

Results
Five demographic segments were identified. The financial base of prospects was then modeled against these segments and specific segments of the institutions prospect portfolio was mailed specific credit card offers that would appeal to them.

Every segment experienced a response-rate increase varying from 20% to 100%. This lead to profitable positive response to the credit card offerings in a cost efficient manner to the financial institution.

Market Study Banking Industry

Issue
To assess share of wallet, loyalty / share in terms of consumer’s method of payment behavior, type of credit card versus competition in order to understand what makes a consumer decide to use one payment method versus another.

Action
A national sample of credit card users / non-users were interviewed regarding their shopping habits and reasons for choosing one payment method / brand vs. another. Attitudes were also collected, as was their decision criteria for future use.

Results
A decision-criteria tree including product features and distribution channels was developed in order to inform the client’s marketing efforts.

Insurance Industry: Brand Equity Needs Assessment Study

Issue
As a means of developing a program for expanding its agent base, this leading insurance company wanted to assess it’s equity among the current agent base, and potential sellers of the brand.

Action
A two phase study was designed identify current brand image and the challenges in expanding its agent base going forward. The study was designed to assess opportunities to create new product and / or service improvements among both the current agent base and non-sellers.

Results
The client learned its current brand perception in the marketplace and the challenges to be faced in the future. Put initiatives into place to promote the brand image and increase sales volume through improved and new products / services to create a core value proposition that was solid for both sellers and for non-sellers.