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Understanding the Customer through Simple, Yet Strategic Research, Increases Credit Card Acquisition and Paves the Way for Future Growth

Direct marketing in general, and credit cards in particular are plagued by an everincreasing cost of customer acquisition. Depending upon the particular market, it may take upwards of 40$-80$ (US) to acquire a customer, since the typical response. Anything that can create a ‘lift’ in direct marketing would therefore by welcome in the industry. This report shows how an easily acquired yet profound knowledge of the customer, acquired in a systematic way, increased the acquisition of credit cards. Part of the report shows what we did, and how we thought. At the same time, the rest of the report shows what we learned, from a process viewpoint to make direct marketing efforts ‘smarter’.

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