This leading bank leveraged spend data to promote relevant offers in new categories to existing cardholders. On the cardholder account page, this bank displayed personalized recommendations to encourage spending across a wide range of categories. For example, if a customer was spending heavily in fashion, but not food, this bank promoted grocery-related offers to increase spend in this category. As a result, this bank saw an uplift in spend across the promoted new categories.
Awareness is key when driving spend in new categories. By delivering relevant offers to customers in these new categories, banks can drive this awareness and see an uplift in spend across all new categories being promoted to customers.