Midwest Bank Strategies For Acquiring New Customers 1) Credit card aimed at women. We team up with Revlon and we start the collection of demographical data, which is put into database. From there we select all females between 17 and 55 years old. First series of phone calls should be made to selected individuals, asking them if they would like to try some Revlon products. When they agree we send them the samples. Second round of phone calls follows. This time we ask how they liked it. All positive responding people are informed about personalized mail coming to their households, which should interest them- it is the material about new Revlon visa credit card. In packages we include few samples of products, info about the card and the application with 800 toll free number so customers have an option of either mailing it or calling in. The benefits of the card should be outlined as follows: Free gift for joining, no annual fee, 24 hrs customer support, low intro APR- 6.6%, monthly Revlon magazine sent out with info and samples of new products, every purchase earns Revlon Points, which can be exchanged for 5, 10 and 20 and then used everywhere Revlon is sold.After sometime another round of phone calls this time divided into two categories:a) Simple “thank You” to the customers who joined and information that their free gift is on the way.b) Remainder to others , trying to persuade them to join.2) Retention of existing customers. The main idea is to expend of the credit card market base by trying to reach our loan customers. When loan term is about to end, we will contact them thru direct mail, thank them for their business and offer them excellent terms if they decide to continue their relationship with our bank. The phone calls should follow. We ask them if they would be interested in some information about our new low intro APR credit card with 2 % cash back at the end of each year. The money can be used as part of loan...
