The Secret to Attracting Customers of Every Generation with Cashback and More
In the world of credit cards, one size does not fit all. Each generation has unique preferences and priorities when it comes to choosing a credit card. With so many options available, credit card issuers are now looking for innovative ways to attract new customers, especially from Gen Z, Millennials, Gen X, and Boomers.
Our latest US financial consumer report shows that cashback is the most popular reward across all generations. However, there are other factors that can influence a consumer’s decision to switch to a new card, such as interest rates, sign-up bonuses, and annual fees. Partnering with the right publishers who specialize in the incentives your consumers want can help you attract customers across the board, but especially in affiliate marketing.
How does your affiliate strategy stack up?
Capturing the curious consumer can be tough, with a wide variety of loyalty and reward offerings and different sign-up offers, finding that sweet spot to convert can be tough. Our latest US Financial Affiliate & Consumer Trends Report provides you with the information you need to know about where your offerings fall within the matrix of strategies.
We found the following parings the most impactful:
- Better interest rates paired with cashback ranked #1
- Signup bonuses and cashback ranked #2
- Reduced annual feels or lower annual fees and cashback ranked #3
Cashback is still powerful
Our research proves that cashback still reigns in terms of credit card reward options across gender, age and income status.
Americans claim that cash back is the most sought-after reward when looking for a new credit card. People considering switching to a new card are more interested in cashback, point options, and a welcome bonus.
The sweet spot – reward offerings & loyalty sites
Partnering with a reward or loyalty site can really boost your ability to find a new customer. Consumers who stated they were most interested in cashback and points ranked above average for being active members of loyalty or reward sites. In fact, 57% of consumers are already members of these sites.
If you’re looking to expand your customer base and offer these types of credit card rewards, you should consider partnering with loyalty and reward sites to get your name in front of the right consumer.
For more insights on what credit card rewards consumers are looking for, where they’re researching their options, and how they plan to make their decisions, access our US 2023 Financial Affiliate & Consumer Trends Report now.