Merchant Funded Discounts have seen extraordinary uptake in Cardlytics’ loyalty program for card issuers. The solution embeds targeted merchant offers within the financial institution’s online banking portal based on consumers’ past purchase history. In a meeting with Cardlytics’ SVP of Product Management and Marketing, Rod Witmond, at the National Retail Federation’s Big Show in New York, Mr. Witmond indicated that they are live or have agreements with a number of domestic debit and credit card issuers, and are ready for prepaid if the opportunity presents itself. Aggregated results are presented in the press release (below).
Cardlytics today released performance results based on 2010 transaction marketing campaigns it managed for all advertisers across multiple industries. The company has seen its transaction marketing campaigns consistently generate activation (activating an offer by clicking on it) and conversion (an actual purchase following activation) rates that are 20 – 50 times higher than other marketing channels. Specific performance data includes:
• New customers
o A $1.00 investment in new customers generated $6.25 in revenue.
o For every $1.00 new customers spent on the trial trip, they have spent $0.77 since.
o New customers’ category share was 35-45 percent (i.e., quick serve restaurant) during active campaigns, and maintained an average of 20 percent category share up to 5 months later.
• Current Customers
o Advertisers experienced a 90 percent revenue lift from existing customers who redeemed offers.
o A $1.00 invested in current customers generated $5.49 in revenue lift.
o Current customers’ average order size increased by 18 percent versus prior periods.
Read the Original Press Release: http://www.businesswire.com/news/home/20110110005326/en/Cardlytics-Releases-Latest-Transaction-Driven-Marketing-Results-NRF
