Case Study #3
With the evolution of consumer expectations, card products which are even a few years old can become obviously stale. And that was the case with this client: old product categories, weak rewards, no pizzazz! While there was a desire to improve things, the organization had trouble getting past ‘management by anecdote’ and making final decisions about where to go. Understanding the financial implications of change was also a challenge- no one trusted any of the numbers! TRK Advisor provided a full market and competitive survey, as well as a profitability analysis so that cost-benefit tradeoffs could be carefully weighed. This resulted in a full product set update, including all terms, price mechanisms, and reward categories and values.
With an updated product set and competitive reward program, the organization could finally be proud to representing their card program to their members. Branch and other member-facing support resulted in more cards being placed in member wallets and a program that earned real member interest for the first time in years.