While only 17% of consumers are considered “Active Joiners,” opportunities exist to market rewards cards across all segments of consumer.
Boston, MA, May 27, 2008 – A new report from Aite Group, LLC reveals that the best way to market additional credit cards to consumers and retain their loyalty is through a compelling rewards program. This report segments rewards program members and provides a deep understanding of which consumers are naturally inclined to join and participate actively in rewards programs.
In order to provide a clear understanding of consumers' relationships and involvement with rewards programs, Aite Group segmented consumers into four categories based on their inclination to join rewards programs and to be active participants after joining. The report, based on a January 2008 survey of 500 consumers, reveals each segment's level of program enrollment and activity, as well as insight into their levels of satisfaction with rewards programs. The report suggests ways to increase satisfaction, enrollment and activity across each of the segments.
"To attract and retain credit card customers, marketers must do something that few firms have done to date: Understand which consumers are naturally inclined to join rewards programs and be active participants," says Ron Shevlin, senior analyst with Aite Group and author of this report. "Segmenting rewards program members by their inclination to join loyalty plans and their likelihood to participate in them offers marketers an opportunity to target their efforts and focus scarce marketing dollars on the right customers."
This 21-page Impact Report contains 17 figures. Clients of Aite Group's Retail Banking service can download the report.