This infographic from ‘Card Hub’ shows that credit card companies are embracing social media tactics in order to target consumers.
For example, American Express allows users to sync their card to Facebook and Twitter in order to benefit from social deals. They have also incorporated themselves with the popular online game on Facebook called ‘Farmville,’ where users can win virtual cash. The Capital One company has also used online gaming by opening up a virtual branch in the CityVille game. Citi group created a Facebook app that allows customers to pool rewards in exchange for gifts, or to make donations.
Many companies are only starting to divulge into the arena of social media, and it appears that credit card companies are all using similar tactics to encourage people to use their services.
Key Themes Behind This Trend
- Social Media Integration
- Credit card companies are using social media platforms to integrate their services, such as syncing cards to Facebook and Twitter, in order to attract consumers.
- Gamification
- Gamification is being used as a way for credit card companies to incentivize customers through gaming platforms like Farmville or virtual branches in CityVille.
- Customer Reward Programs
- Credit card companies are offering customer reward programs through social media platforms, such as the Citi group Facebook app that allows customers to pool rewards for gifts or donations.
Where This Applies
- Credit Card Companies
- Credit card companies have the potential to disrupt the social media and gaming industries by integrating their services, gamifying their rewards programs and offering incentives on social media platforms.
- Social Media Platforms
- Social media platforms have an opportunity to partner with credit card companies, creating a mutually beneficial environment, where customers can enjoy streamlined services and receive rewards.
- Gaming Platforms
- Gaming platforms stand to increase activity and revenue by partnering with credit card companies and offering incentivized virtual experiences to attract customers.
