How to get more from your debit card

We all know we want to increase debit card usage and increase signature-based transactions but how can we communicate that to our customers? Have you done any research in your market to find out what will motivate your customers to not only use their debit card, but to use it as a signature based transaction instead of a PIN transaction?

We know that reward programs help. Other ways to add value are to offer insurance products, ID theft protection, shopping discounts, cash back benefits and other discount options for a nominal fee.

They say that over time, active debit card users display greater potential for growth and loyalty versus those customers who do not use a debit card. Active debit card users are also more receptive and attractive targets for cross-sell promotions, especially online banking and loan product sales.

Here are some ideas to make your debit card program more profitable:

• Instant issue debit cards at the branch level
• Target activation and utilization campaigns
• Promote debit cards as bill payment options
• Market the use of debit cards for internet purchases

How do you make your debit card program profitable? We would love to hear your ideas!

Make it a great Friday. Enjoy your weekend and until we talk again.

Debbi

Instant Issue Technology as a Total Marketing Tool

Instant issue technolgy for debit cards is a meaningful tool for community banks. With Capital One advertising the concept for you ( you know, "I want my mother's picture on my card") the ability to create and issue debit cards on the spot is a tool that we would expect only the largest of banks would be able to implement affordably. Not true! This piece of technolgy coupled with an imaginative marketing program, can truly be the foundation for new sources of income for the bank.

You can issue debit cards that are totally personalized for each customer (how fun!) . Your customer can upload the photo they want on their card (family, baby, pets, whatever). And they get their card today instead of 2 weeks from today so they can be using the card sooner (which makes you more money). And they get replacement cards sooner, so you don't have 2 weeks of downtown with no card usage. The biggest banks can't do this across a large distribution network without spending a large hunk of money... not likely to happen with their financial positions today. This can be a real competitive advantage for community banks and credit unions. Your cost to implement will depend on whether you want one central location that can print the cards or one in each banking office, but a single location can be implemented for between $20-30,000.

But even more than this, you can create affinity card programs with local schools, universities, major employers, and much more. These local relationships can be coupled wtih some creative sponsorship opportunities and marketing programs to create true, local partnerships that will move the market share needle in your market for some time to come. Loyalty becomes a given and competing with the big banks is made EZ.


If you are thinking about implementing instant issue technology and a creative marketing program with it, you may want some outside assistance. At Market Match, we can help you through the maize of creating a fail safe program. Read how others are doing this at http://www.instantissuance.com/. Call me, I would love to have a discussion about how these programs work with you. Find me at www.marketmatch.com.

Have a great week!
Sharon