Our session on Branding & Prepaid: How Effective Communication Strategies Can Combat and Differentiate your Product from Debit & Credit today was moderated by Marilyn Bochicchio, CEO of PAYBEFORE.
Panelists:
Tony Chang, Head of Prepaid Marketing, VISA INC.
Diane Scott, CMO, WESTERN UNION
Laura Kelly, SVP & GM of the Americas for Global Payment Options, AMERICAN EXPRESS
John Dwyer, Sr. Account Executive, CPI CARD GROUP
Jeffrey Lewis, Director of Prepaid and Alternative Payments, DISCOVER
Brands & solutions must be trusted especially in the case of financial survival. This leaves room for change and innovation without losing the consumer.
Your brand as a card shouldn’t override the brand being introduced to the consumer.
American Express looks at payments as a global stream, their view is full spectrum. As an aspirational card, they have a responsibility to innovate and meet the needs of consumers. If you don't grow, you die. They tailor their prepaid offerings further via customer requests.
Western Union: Consumers want no hidden fees and simpler, more transparent information. Consumers don't want to carry cash, they actually want to put their money on a card.
Why would banked customer choose a prepaid card? To become a companion financial solution, to fill gap(s). It's transparent. Additional functionality.
Marketing is different for each audience, regardless of the medium/channel. Marketing to millennials is different than marketing to parents or employers.
Social media, digital banners and apps are huge crucial for immediate response, interaction and a powerful, cost-effective tool to service consumers.
Valerie M. Russo is a Senior Social Media Strategist at IIR USA with a technology, anthropology, marketing and publishing business acumen. She will be attending Prepaid Expo USA 2012 and covering the event live via Twitter and the Prepaid Expo Blog. She is a published poet and also maintains a literary blog. She may be reached atvrusso@iirusa.com. Follow her @Literanista.
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