‘Tis The Season to be Rewarded
The Holidays are the time of year when people trek through snowmaggedon to be with loved ones, indulge in waist-expanding meals and listen to endless replays of Mariah Carey’s “All I Want for Christmas”. But it is also the time of year when people shower their loved ones with countless gifts.
It’s projected that holiday sales in the US this year will approach $870 billion in total1. Behind debit cards, credit cards are the second largest non-cash vehicle for purchases2. This proves that the holidays are a powerful time of year for credit card companies to connect with key audiences—ensuring their consumers are informed on how to select and use credit cards to their personal benefit.
In a recent Pandora soundboard study, we found that 67% of credit cards are chosen based on their rewards programs3. The ability to earn rewards based on their credit card purchases and then turn their rewards into gifts, trips, dinners out with friends and even cash is key for many consumers. This especially rings true during the holiday season.
But what entices consumers to choose a particular rewards credit card? We asked our Pandora listeners to tell us what the deciding factors for them were. Here’s what they said:3
The Holidays are a great time to tout rewards, highlight customer benefits and encourage existing cardholders to maximize credit card use and drive new acquisitions. There’s no time like the present to get your holiday marketing messaging out before gift splurgers4 hit the shopping scene.
It’s important for all brands to devise an advertising strategy and partner with a data rich publisher that will ensure their message will connect with the right consumer, at the right moment. For credit card companies, the holidays seem to be an opportune time to connect with new consumers. With over 1300+ targeting segments, Pandora can help connect brands with their target consumers more efficiently and effectively.
Want to learn even more holiday marketing tips? Check out Pandora’s recently published eBook highlighting the three key holiday trends marketers need to know in 2016 and learn how your brand can win this season.
To download the Pandora Holiday eBook:
1 eMarketer, February 2016 as cited in eMarketer, “US Holiday Shopping Preview 2016,” March 2016
2 eMarketer, 2016 Holiday Shopping Survey Results,” Sep 19, 2016
3 Pandora Banking and Credit Cards Soundboard, February 2016
4 Nielsen Holiday Headquarters, 2015