To enhance card activation and client loyalty, lifecycle tactics and strategies must be reevaluated as a card business matures from new account to maturity. In order to assure early activation methods within the first 60 days of a new account, build ongoing promotions to keep your cardholders engaged, and harvest by month of customer acquisition, the typhoncapital team may draw on decades of experience managing card programs.
To determine ranges of all accounts by activity levels, including early activation, reactivation offers, and customer retention based on account usage history, we assess the percentiles by credit lines.
The main goal of this project is to organize the life cycle strategy and put in place the early activation, frequent use, reactivation of the portfolio, and proactive client retention initiatives that will enable a comparison of the card business with various indicators by market segments and product types (Classic, Gold, Platinum, Signature, or Black) in comparison to the industry benchmark.
The methodology utilized to carry out the lifecycle project for credit card products entails coming up with business plans to gauge the variables and important metrics of the procedures for opening new accounts, issuing and delivering cards, activating cards, and using cards. By separating statistics by functions and processes created by product categories and client segments, we will also analyze the use of restrictions and the service quality of authorizations in order to establish a business trend.
