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TURNING REWARDS INTO A PROFIT CENTER

Andrew Gates, Director of Strategic Partnerships, RewardsNow

About 80 percent of credit card spend happens on rewards cards. That’s why Gates thinks it’s time for credit unions to stop thinking of rewards programs as an expense and start thinking of them as a profit center. A well-structured, well-executed rewards program can help your credit union grow your card programs and revenue.

What you’ll learn:

  • How do you make rewards a profit center, instead of an expense?
  • Why do many card issuers have the wrong idea about redemption?
  • How can credit unions use rewards to differentiate their programs – and deliver rewards that compete favorably against airline and travel rewards cards?
  • What spells the difference between lukewarm engagement and active participation?
  • How do you measure ROI quickly and meaningfully?
  • What makes an engaging mobile rewards app?
  • Why is cash back a shaky strategy for credit union cards?