This document discusses strategies for credit card marketers to capture today's digital consumer. It begins with an agenda that includes insights from Mintel on digital credit landscape trends and new Experian analysis. It will then discuss an integrated digital credit marketing approach and allow for questions. The document provides statistics showing growing digital channels for new credit card applications and declining mail volumes. It analyzes specific issuer marketing campaigns across digital channels like social media, email, mobile apps, and direct mail. The document advocates for an integrated cross-channel approach to targeting consumers and emphasizes the importance of data integrity, technology, customer experience, and regulatory compliance for digital credit marketing.
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THE
CONSUMER
YOUR
FOCUS
THE
COMPETITION
WHAT’S
NEXT
THE
RESULTS
MINTEL
KNOWS
5. 5
How Obtained New Card Application
Offer Channel Q1-15 Q1-16 Q1-17
Digital 43% 45% 49%
Online on Website of Card/Bank 13% 15% 13%
Online from Email of Card/Bank 10% 9% 12%
Online on Third-Party Website 11% 8% 10%
Card or Bank Mobile App 3% 4% 6%
Text Message 3% 4% 2%
Social Media 4% 5% 5%
Mail 24% 23% 22%
Mail with ONLY offer/application 17% 17% 15%
Mail with Bill/Account Statement 7% 6% 6%
In-Person 23% 24% 20%
Offer from person in Bank/ATM 10% 10% 8%
In-Person at Kiosk/Store 7% 6% 6%
Picked up Brochure/Application 6% 7% 7%
Phone 7% 6% 7%
Offer from Phone Call to/from Bank or Card Company 7% 6% 7%
Other 3% 3% 3%
Digital Channels Now Account for Nearly Half of All New Applications
Q. Which of the following best describes how you obtained the offer for the [Card]?
6. 6
244
355
247 239
281 302 301 293
258
681
759
644
885
852
854
797
785
627
0
100
200
300
400
500
600
700
800
900
1,000
Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017
Millions
Pre-screened
ITA
Mail Volume at a 4 year low
Credit Card Acquisition Mail Volume
7. 7 Source: Pathmatics 12 months ending 5/9/2017
Chase Tops Amex on The Points Guy in the Last 12 Months
Chase spend: $3.7M in the last 12 months
Amex spend: $1.5M in the last 12 months
8. 8
Dynamic Ads Plus “The Future of Travel” Video Series
“Travel’s changing. Carry the only
card designed to stay ahead.”
10. 10 Source: Mintel ePerformance/eDatasource as of 3/5/2017
Chase Launches Huge Email Cross-sell Campaign
April 7th:
4.9 million emails sent
Sapphire Preferred:
1.5M emails
Multi-card:
1.4M emails
Slate:
1.2M emails
Freedom Unlimited:
796k emails
April 29, 2016
Mobile App
Home Screen
11. 11
Opportunity: Pre-screened Email
…but just 3%of acquisition
emails were pre-screened in
Q1 2017
7%
8%
9%
9%
10%
44%
Credit One
SunTrust
Citi
Navy FCU
Wells Fargo
USAA
Issuer Share of Pre-screened
Acquisition Email: Q1 201712%
of new card applications
were obtained via email in
Q1 2017
13. 13
Application Channel Q1-15 Q1-16 Q1-17
Mail (Paper) 8% 9% 6%
Digital 66% 65% 72%
Online on Website 36% 32% 31%
Online on Tablet 11% 12% 12%
Mobile 19% 21% 28%
Mobile Website 11% 11% 16%
Mobile App 4% 6% 9%
QR/AR/Mobile Code 4% 4% 4%
Phone 8% 8% 7%
In-Person 18% 18% 15%
Q: How did you or another member of your household submit the application for the [Card]?
A Record Percentage of Applicants Applied via Digital Channels in Q1
How Submitted New Card Application
40%
14. 14
The Importance of a Seamless Application Experience
Wells Fargo’s Mobile
Application Experience
15. 15 Source: Mintel Comperemedia, Offers with No Application Forms, April 2017
Capital One Drives Digital Applications via Direct Mail
0
10
20
30
40
50
60
70
80
90
Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17
Millions
American Express Bank of America Barclays Capital One
Chase Citibank Discover First National Bank of Omaha
U.S. Bank USAA Wells Fargo Others
Volume of DM with No Paper Application Form