Performance marketing is the key to success in the ever-changing financial landscape. From economic changes to interest rate increases, consumers are looking for new credit cards and bank accounts as they adapt to the changing tides of the financial market.
To give financial advertisers in affiliate marketing a competitive edge, we surveyed 15,000 U.S. consumers in late 2022 and early 2023 to uncover what matters most to them when searching for new credit cards and banks. Below you’ll find key highlights that we discovered. To view the full report, access here.
We all know that there is a multitude of rewards available for credit card customers, but what do they really want? Our survey proves that cashback and points are king, 71% of consumers rank cashback #1 when asked what they look for when selecting a new card.
In fact:
- 71% of consumers rank cashback as their most wanted reward
- 56% of consumers rank points as their most wanted reward
- 46% of consumers want a welcome bonus when signing up for a new card
Those who are interested in cash back and points are far more likely to be active members of a loyalty or reward site. For those of you looking for new customers, consider partnering with one of these sites to get your name in front of the audience you want.
Reaching the banking client.
Service consistently ranks as the most important factor when selecting a bank, but the rise in neo-banks for younger demographics is only growing. As the market continues to fluctuate with the economic tides, successful strategies for finding the right consumer, at the right time, with the right offer only get more complex.
49% of consumers rank good customer service as their top criteria when selecting a new bank or payment provider, followed by a mobile app at 44%. In contrast, last year our survey showed that mobile apps were tied for first along with service.
For the full report featuring more insights on how consumers find and choose financial services, access our 2023 Financial Affiliate & Consumer Trends Report.
