SHAZAM Debit Rewards Case Study

Challenge

Develop a way to increase debit card usage, increase spend and build cardholder loyalty.

SHAZAM Debit Rewards is a convenient, easy-to-enroll debit card rewards program available to SHAZAM participants. Every time cardholders use their debit card for point-of-sale (POS) purchases, their name is automatically entered for a chance to win great prizes.

Solution

To build awareness, educate and drive increased debit card usage from cardholders, SHAZAM creates a professionally designed multichannel marketing kit each quarter that includes a variety of signage, statement inserts, web and print ads, newsletter articles, statement messaging and radio scripts.

The program enrollment, campaign marketing kit, prizes, and drawings are all administered by SHAZAM. Plus, when cardholders win, the financial institution gets to award the prizes.

Results

Across all participating SHAZAM financial institutions, those enrolled in SHAZAM Debit Rewards see an average increase of 4 more transactions per month, per cardholder — compared to those institutions not participating in the program. And, the average monthly dollar amount spent per cardholder is also $127 higher, which means more revenue for your institution.

Additional analysis shows the active card portfolio of participating institutions increases 22% compared to non-participants. These results can be tied to the program’s incentive to use the card more frequently and increase the chances to win prizes.

To further demonstrate the effectiveness of the SHAZAM Debit Rewards program, we performed a deeper analysis on a participating financial institution to show individual results.

Before Enrollment

Prior to enrolling in the SHAZAM Debit Rewards program, ABC Institution’s* average monthly POS transactions per card was 8. This was almost 5 transactions lower than other institutions of similar class size and region not enrolled in the program.

After Enrollment

After enrolling in the program, training staff and consistently promoting SHAZAM Debit Rewards, ABC Institution saw a measurable increase in their POS transactions. Transactions per card not only grew to meet volumes of the other like-institutions, but it exceeded their average by more than 4 additional transactions. This reflects a 176% transaction growth for ABC Institution.

Conclusion

SHAZAM Debit Rewards is the right tool to help you increase debit card usage and build cardholder loyalty.

The program promotes and increases awareness of your debit card program by providing an incentive to cardholders for their debit card usage. The more cardholders use their debit cards, the more chances they have to win valuable prizes while generating additional revenue for you.