Most financial institutions across the country offer debit cards to accountholders; however, many financial institutions fail to realize the full benefits a successful debit card program can deliver in new accountholder acquisition, current accountholder retention and overall profitability. A successful debit card program begins with a simple, valuable reward program, which promotes increased usage and is promoted to the right target demographic.
Tags: cash rewards, cash back rewards, cash back reward programs, Customer Acquisition and Retention Strategies, Business Banking, Pinnacle Financial Strategies, Debit Card Programs
Take off your banking hat for a moment and think as a consumer about reward programs. What types of rewards programs do you participate in? Why do you participate in them? Is it because you value and appreciate the rewards? Or do you just want to support a company that appreciates and values your business?
Tags: banks, Pinnacle, fee revenue, cash rewards, cash back rewards, cash back reward programs, loyalty, retention, acquisition, interchange income
