already boasting one of the highest

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					5 February 2009 Retail Banker International
                                                                                                                                                 mARKETINg: CARD PERSONALISATION                                                    17

Wells Fargo gets personal
Wells fargo has launched a card personalisation tool for its customers, allowing them to customise the design
of their credit and debit cards. the bank argues the new service will strengthen its brand differentiation in
the us, increase card usage and boost its already industry-leading cross-sell ratio, reports Douglas Blakey

          lready boasting one of the highest                                                                                                                                potential by allowing its clients to offer their
          debit and credit card penetration                                                                                                                                 own customers a way to share the excite-
          rates among its retail banking cus-                                                                                                                               ment and pride of personal card creation
          tomer base (92 percent and 38 per-                                                                                                                                in many ways, including online design con-
cent, respectively), Wells Fargo has added                                                                                                                                  tests, share-a-design e-mail offerings, blog
another string to its marketing bow with the                                                                                                                                and banner communications and advertise-
introduction of a card personalisation serv-                                                                                                                                ments, and unique image content and man-
ice.                                                                                                                                                                        agement.”
   Its Card Design Studio, launched at the                                                                                                                                    Lee at Wells Fargo also expects the bank
end of January, enables cardholders to put a                                                                                                                                to benefit from business owners opting to
photo of a friend or family member, a picture                                                                                                                               showcase their company’s by adding to the
of a pet, an image of a special hobby or a                                        Business card: your company name here                                                     logo to their cards.
snap of the customer themselves onto their                                                                                                                                    “Business owners have three options in
cards.                                                                            AllAboutMe web-based application repre-                                                   creating their card design,” he said. “They
   Customers can also customise the card                                          sents its biggest contract wins to date.                                                  can customise the card background with
background with an image of their choice or                                         Since its establishment in 2003, Serverside                                             an image of their choice or one from Wells
one from Wells Fargo’s image library.                                             has built a strong position in the industry run-                                          Fargo’s Image Library.
   “The reason we launched Wells Fargo Card                                       ning more than 700 card programmes via its                                                  “They can add a logo to their cards with
Design Studio is two-fold,” the bank’s card                                       network of approximately 200 card issuers in                                              their business name and tagline. Or they can
product manager, Jesse Lee, told RBI. “First,                                     23 countries and a client list including ING,                                             add a personal headshot to the top left corner
our cardholders told us they want to be able to                                   Banco Sabadell, ANZ, KBC and Fortis.                                                      of the card.” <
personalise their cards. Second, by giving our
cardholders the ability to design their cards                                     A trend towards personalisation                                                               n INNOVATION
with their favourite images, we hope our cards                                    The growing trend towards card personali-
become their payment form of choice.”                                             sation has been boosted by banks’ desire to                                                   Industry-leading focus
   And unlike a number of smaller banks and                                       differentiate themselves in the market place –                                                on cross-selling
credit unions which have already rolled out                                       and banks opting for personalised cards have
card personalisation, Wells Fargo is not charg-                                   noted increased card usage from customers                                                     Wells Fargo’s hugely successful focus on
ing its customers for the service.                                                who opt for the customised cards.                                                             cross-selling has for the past decade been
   For the software vendor, UK-based Server-                                         “We hope by giving customer choice and                                                     among its best-known business princi-
side, the deal to supply Wells Fargo with its                                     personalisation, it builds customer loyalty and                                               ples.
                                                                                  our cards become top of wallet,” added Lee.                                                      In 2008, the bank’s retail arm report-
 n AT A gLANCE                                                                       Wells Fargo has flagged-up the product                                                     ed core product sales of 5.3 million in
 Wells Fargo – fiscal 2008 retail highlights                                      launch with an online campaign, web ban-                                                      the fourth quarter, up 12 percent from
                                                                                  ners and a demonstration of the service on                                                    the fourth quarter in 2007, boosted
 core product sales                                     5.3 million
                                                                                  its website, together with links that provide                                                 by the success of its Packages product,
 Branch-based sales (1)                                      up 23%               details of the bank’s card design studio. Fur-                                                which includes a current account and at
 net new retail banking households                          410,000               ther online marketing tools, including a viral                                                least three other products such as a debit
 retail household cross-sell ratio (2)                            5.73
                                                                                  campaign may follow.                                                                          card, credit card and savings account.
                                                                                     According to the vendor, a number of the                                                      Package sales were up 33 percent
 credit cards – penetration rate       (3)
                                                                                  first banks to sign up for AllAboutMe have                                                    from the fourth quarter in 2007, pur-
 Debit cards – penetration rate (3)                               92%             found online viral marketing to be much more                                                  chased by 75 percent of all new checking
 credit card outstanding balances –                               13.7            effective than traditional marketing routes of                                                account customers, up from 70 percent
 Wells fargo ($bn)                                                                the personalisation offering.                                                                 a year ago.
 credit card outstanding balances –                                 7.8              In an interview with RBI’s sister title Cards                                                The bank’s retail cross-sell ratio hit a
 Wachovia ($bn)                                                                   International last year, Serverside’s CEO,                                                    record, at 5.73 products per household,
 market share – mortgages                                         12%             Adam Elgar, said: “Viral marketing allows                                                     up from 5.53 a year ago, while 24 per-
                                                                                  users to become individual brand advocates                                                    cent of the bank’s retail households had
 market share – retail deposits                              11.20%
                                                                                  themselves and extend the marketing message                                                   eight or more products, the bank’s long-
 (1) compared with 2007; (2) 5.53 products per household
 in 2007; (3) as a percentage of Wells fargo banking
                                                                                  by their own choice to friends and family.                                                    term goal. <
 households.                               source: Wells fargo                       “Serverside capitalises on this marketing

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