Challenge:
Century wanted to increase their volume of Visa credit cards and grow balances on new and existing accounts. Following the holiday season, Century was clear that a promotional rate should be awarded to all balance transfers within a 3-month window and messaging should emphasize the balance transfer as a debt-consolidation tool.
Solution:
A digital campaign was developed to highlight Century’s competitive Visa rate, offer current and new members an attractive 6-month balance transfer rate, and, in keeping with Century’s mission to improve financial literacy, educate audiences about the debt-consolidation power of a low-rate balance transfer.
The campaign utilized email marketing, social media, search engine marketing (SEM), and digital display ads.
Outcome:
Century experienced an 80% increase in new Visa credit cards year over year and received over $200,000 in balance transfers alone. The social campaign garnered a click-through rate of 2.45%, nearly three times higher than the financial industry average at the time. Search engine marketing ads saw a 47.86% click-through rate, indicating extreme relevance and actionability with the target audience.
