Define the best strategies to acquire new customers for your business card
Small and medium enterprises (SMEs) vary by size, sector, financial sophistication and business maturity. That's why a one-size-fits-all approach doesn't work. For SME issuers, acquisition is the first step towards a superior customer engagement strategy – one that increases account profitability and motivates brand preference. Acquisition works best when issuers promote specific features of business cards that address the needs of SMEs by industry.
Define. Identify. Engage. Measure.
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Offering SMEs the right product boosts an issuer’s acquisition opportunities
* Source: Mastercard for Small Business – Quantitative Research Findings, 2022
** Source: Mastercard Economic Institute, Recovery Insights: Small Business Reset, 2021
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Partner with our consulting experts to optimize how you serve SMEs.
A European bank was lagging behind its competition when it came to SME card offerings. Mastercard helped the bank identify hidden SMEs in its consumer credit cardholder base by building a set of propensity models to identify consumer cardholders exhibiting SME behavior. This engagement resulted in a 10% increase in monthly spend of both consumer and SME credit cards, and a 17% increase in overall average customer profitability.
