Shift To Web: Better Prepaid Card Marketing At Lower Cost

If you look at what an ideal marketing campaign looks like, there a few  common threads:

1. Highly targeted with a clearly defined audience
2. Message testing to identify and expand only the most  effective  messages
3. Separate followup messaging and sales pitch based on  which  campaign prospect responds to.
4. Undertaking detailed tracking of audience behaviour  including  response to messaging and offers

The problem lies with the cost of running a campaign of  this type in  your offline business.   Calling or mail  campaigns will generate  significant manpower and printing  costs and the tracking is a far more  difficult (manual)  process.  Its not always easy to get data about  prospects  in the offline world.

That’s Where Your Website Steps In
Many prepaid card companies look at the web as a secondary offshot of  their marketing strategy.   We’re here to suggest that your organization should consider putting your website at the centre of your marketing  efforts to new cardholders.  Your website has a far  greater alignment to an  ideal marketing campaign.  Achieving a high degree of targeting, tracking and message  testing can be done within a more limited  budget.  The  ability to tailor marketing programs for concurrent testing  of  messaging is a critical advantage giving you more rapid  message  effectiveness feedback and allowing faster  tailoring to specific prospect audiences.

The Basics Of An Ideal Card Marketing Program

• Targeted programs for specific potential cardholders groups
• Emphasis on marketing specific card products to specific target audiences
• Several versions of each campaign to test messaging and offers
• Strong data and analytics to understand target segments  demographics, feature interest and response to messaging

While this can be achieved offline as well, the cost factor is in the magnitude of 3 to 5 times to achieve similar reach as compared to doing it online.

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