| Managing a card program requires a large investment in people and technology. Pursuant to this, many firms choose to place these functions and other operational tasks into i2c’s capable hands. Rather than offering a one-size-fits-all package, i2c provides customized card program management that allows our clients to conduct their business according to their needs and business model. |
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| There are five main areas that we focus on in card program management. |
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- Knowledge and understanding of your card holder’s requirements
- Tailoring your program to suit your card holder’s requirements
- Defining a clear set of KPIs that will enable you to manage and control your card program effectively
- Creating a world class Customer Service organization.
- Controlling Costs
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| By concentrating on these main areas, i2c provides you with the competitive edge needed in the dynamic and lucrative stored value market. |
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| KPIs |
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We monitor and control your card program by ensuring that simple, workable Key Performance Indicators (KPIs) are in place. We build these indicators into a performance measurement system that allows you to see how your business and marketing initiatives are working.
The KPIs we use for the Stored Value industry are; Average Revenue per Card (ARPU), Churn, card base, customer acquisition costs (CPGA) and cash cost of service (CCPU).
Success rests on a fine balance of CPGA, ARPU, and churn, and if one or more of these factors is uncontrolled, the profitability of your card program will deteriorate rapidly. We manage these KPIs so that we can react proactively, in our efforts to increase revenues and reduce costs. |
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| ARPU |
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| Average Revenue per Card is a self evident KPI. We add multiple services and products to the card, which increases and diversifies your revenue stream, grows the number of transactions and increases the gross margin per transaction. |
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| Churn |
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| Churn measures the turnover rate of the card base. A high rate of customer churn impairs the ability to increase revenues, depresses operating cash flow and causes deterioration in operating margins. Churn directly impacts profitability. We add “sticky” services such as voice mail, bill pay, long distance, rewards, etc. Making the card easy to manage and use, reduces churn. |
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| Card Base |
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| We develop a clear value proposition and identify the marketing and branding required for your targeted demographic. Producing a card that is tailored to suit your card holder needs is the only way to increase the card base and reduce churn. |
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| Cost Control |
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| CPGA and CCPU quantify the average cost of adding and servicing a card holder, which includes sales and marketing activities. By focusing on customer acquisition costs, breakeven months, processing, pricing and other operating costs, i2c reduces CPGA and CCPU. |
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| Branding/Marketing |
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| The brand is typically the key element that attracts and retains card holders, so it is important that CPGA and CCPU activities are brand-centric. We develop Value Added Services (VAS) with unique features, as purchase decisions by card holders are mainly based on the features of the product, functionality, and price. We improve profit margins, create greater product awareness and increase overall sales. |
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| Customer Service |
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We know that not one product or solution meets every need. By assessing the unique requirements and circumstances of each client we are able to determine the solution that best suits your needs and offers the highest return on your technology investment.
Customer Service, more than any other customer interaction, offers the best opportunity to enhance customer loyalty and satisfaction. By quickly and effectively resolving customers’ card issues, we demonstrate a strong commitment to the customer, reducing churn and increasing revenues. Customer service is extremely expensive, so we make sure that your card program is simple and clear to understand and the value added services are easy to use. |
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| Business Benefits of Card Program Management |
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Reduce overheads, free up resources |
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Minimize capital expenditure |
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Eliminate investment in fixed infrastructure |
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Offload non-core functions |
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Redirect energy and personnel into the core business |
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Free your executive team from day-to-day process problems |
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Focus scarce resources on mission-critical projects |
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Get access to specialized skills |
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Save on manpower and training costs |
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Control operating costs |
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Improve efficiencies through economies of scale |
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Provide value-added services |
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Increase customer satisfaction |
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Establish long-term, strategic relationships with world-class service providers to gain a competitive edge |
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Avoid the cost of chasing technology |
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Leverage i2c’s extensive investments in technology, methodologies and people |
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| We manage card programs with several common characteristics – a strong brand, an established customer base, and excellent card holder care, that sets the course for a lucrative card program. |
