No. 34

cbsi Exchange
For more than 35 years, cbsi has provided thousands of financial institutions with products and services designed to increase loyalty, reduce attrition and create overall value for the customer.

Throughout that time, cbsi has met and worked with hundreds of industry leaders, driving policy, creating new opportunities and expanding the role of benefits in several industries.

During the past 18 months,  we've gained a greater appreciation for Programmatic Marketing - considered by some of us marketing veterans as Direct Marketing with hyper-fast tools and resources.

Combining the speed of the digital world with the benefits provided to your customers, Programmatic Marketing is the perfect recipe for better relationships with your customers.

You can learn more by reading below.


For transaction account marketers reaching customers to encourage summer travel spend on their cards is a never ending challenge.  One key to success is to be visible on the digital devices customers are using as they plan their trips and enjoy time away from home. cbsi Benefits can provide the perfect Programmatic Marketing messaging that connects customer activity and interest with compelling, useful account benefits.  


For example, a widely offered cbsi benefit is Auto Rental Collision Damage Waiver. Finding a way to promote this product in concert with your marketing strategy can be an excellent opportunity for you to encourage usage.  


Another product worth offering programmatically is Travel and Emergency Assistance Services which provides access to support for travel planning, finding a doctor or lawyer, translation service and lost luggage assistance.  For more serious travel situations, Emergency Evacuation & Transportation Coverage can be provided. This covers emergency transportation or medical evacuation required due to an injury or illness experienced on a trip paid by the covered account. In either case, consider promoting these benefits in conjunction with your marketing communication and offer strategy.     


As with all benefits, make sure you and your customers understand the benefit requirements and restrictions prior to travel. 

To learn more about the ways in which cbsi can help you reach your business goals, contact us at info@cbsiservices.com.


What is Programmatic Advertising?

Programmatic advertising, impact of smart-phones, customer data reciprocity, impact potential of loyalty programs, and the uniqueness of "Cultivated Wit" to influence people were key topics discussed at the Direct Marketing Association's Integrated marketing Week conference held in New York City in June.


Author, Comic, social critic Baratunde Thurston got the #IMWeek program off to a fast start advocating brand listening skills, by advising marketers to "Shut up and Listen."  The columnist for Fast Company magazine described the influence gained by using "Cultivated Wit" to defuse sometimes tense situations.


"Smart-phones are changing consumer behavior," commented Ashu Garg, partner at Menlo Park, CA based FoundationCapital.com, an example, "Chewing gum sales are down 10%" because people are busy using phone in checkout lanes instead of making impulse purchases.  The former Microsoft and McKinsey exec forecasts that "Technology spend by marketing organizations will grow ten fold over decade from $12 to $100 billion.  Showing his direct marketing background, Ashu  encouraged hiring of "Math People" into brand organizations, calculating Return on Investment for marketing expenditures, and the value of programmatic advertising.


Bob Henderson, Loyalty & Relationship Marketing Manager at TGI Fridays spoke of "Reciprocity of Value," what a "Trusted Brand"  provides customers in exchange for right to contact them and establish account.  "Give Me More Stripes" is the chain's successful loyalty program, generating "$550 more revenue per year" than average customers.  The Dallas based executive suggested four guidelines for building customer loyalty:

  1. Do what you promised
  2. Treat me fairly
  3. Protect my information
  4. Improve my experience

Perhaps Henderson summed up best saying the goal for their loyalty program is, "To turn Members into friends."


In a session devoted to company culture in an era gearing more towards those with technical skills, Aiwa Shirako of Google commented, "Culture is what ties company together."  Jenny Harding of Wedding Wire described the goal of her firm to "Delight Customers."


Larry Jenkins from the Arizona office of Ethology spoke of charting "Journey Maps," the communication points with a customer from first contact, nurturing leads across channels they may use, through the complete process of making a sale.  In the same session, Margot Vaughan of Mastercard recommended "Trigger Campaigns" which send a series of related messages after a customer has indicated an interest or activity area. 


High energy Mathew Sweezey of Paradot, described the need to be "A relationship company, with relationships greater than campaigns."  He advised looking at how customers are using the internet with "28% of all on-line usage being social media" and that 66% of all email is opened on smartphones."


David Gilboa of Warby Parker described while in graduate school his team started a direct to consumer eyeglass company that Fast Company magazine designated its "Most Innovative Company of 2015."  Gilboa described the keys as providing lower prices than retail, provide many fashion choices and make it easy for the customer.


The Direct Marketing Association is working to remodel its signature fall conference to meet the needs and interests of multichannel conscious brands.  The conference will be known as "@Then" and held Oct. 4-6th in Boston. http://dma15.org/  


Two CFPB items that may be of interest ...


CFPB Publishes Over 7,700 Consumer Complaint Narratives About Financial Companies  

The Consumer Financial Protection Bureau (CFPB) now manages an enhanced public-facing consumer complaint database, which includes for the first time over 7,700 consumer accounts of problems they are facing with financial companies concerning mortgages, bank accounts, credit cards, debt collection, and more.


To learn more, click HERE 


CFPB Semi-Annual Report Spring 2015

The Semi- Annual CFPB report contains insight into activity from the first half of 2015 in every, major financial services category, from banks and credits cards to student loans and mortgages.

To read the CFPB Semi Annual Report for 2015, click HERE.

To visit the CFPB website, click HERE.
SPOTLIGHT: cbsi Conversations  


cbsi Vice President, Ken Kraetzer, has spent more than 25 years cultivating relationships within Marketing, Financial Services and Card Benefit Products.


To share his knowledge and experience, Ken has spent the past year interviewing several Executives in several industries with the result being information you can review and use.

Click HERE to watch Ken's interview with CBS - Bloomberg Reporter, Joe Connolly and stay to watch even more videos from industry leaders.