Credit Card Companies Turn to Current Customers

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When it comes to credit card mailings are you only receiving offers from banks that you currently do business with? If so, then welcome to the next generation of marketing from issuers as an article entitled "Credit Card Companies to Get Up, Close, and Personal", details how it could stay this way for a while as issuers are putting their marketing dollars into advertising to their current customers.

 

Focusing on current customers is nothing new for credit card issuers, just the growing focus of this technique. Where as in past you had probably gotten mail from financial institution that you have heard of (and had not heard of for the matter), now you may only get some mail from banks that you may already have a loan or banking account with. One good example of this is Chase’s newest business charge card offers. For both the "Ink" and the "Ink Capital" charge cards, the "Exclusive Benefits" rewards are focused on those that are current business checking account holders.

 

Why not target consumers that you already know personally? On many accounts this way of marketing in less expensive for the companies themselves and even more targeted than that of mailing, as they already know your tendencies when it comes to your finances. In addition if you look at past results of other companies that currently use the same model (say your insurance company), you will see that type of marketing has shown very good results.