CANADIAN AIRPORTS CREDIT CARD MARKETING CASE STUDY: CIBC
This top Financial Institution was the first to create a credit card which allowed consumers to earn miles or points towards redemption on a major airline. This card was also one of the the first premium ($120 annual fee) cobranded travel credit cards in the market.
Challenge:The product manager responsible for new customer acquisitions advised SPP Marketing Services that the CIBC Aerogold Visa product had flat lined in terms of sales and he needed a way to increase sales.
The Plan:We identified that airports would be a perfect venue for this travel co-brand credit card. Airports would offer the motivated traveler with the higher than average disposable income needed to meet the approval requirements of such a prestigious product.
Airport Negotiation & Kiosk Design:We were faced with a challenge of persuading the airports that this would be a product and service that their travelers would benefit from. SPP Marketing Services worked diligently with the Airport Authorities and our CIBC account team in delivering mobile kiosks that satisfied the airports need for small size and portability and still provided storage and writing space for the reps. SPP Marketing Services also created Rules of Conduct to ensure the airports that conduct would be professional and that the SPP Marketing Services personnel would work within the regulations of the airport.
Image & Branding:Carefully selected representatives were outfitted in uniforms which supported the brand and advertising of CIBC Aerogold. The uniform included scarves for the women and ties for the men. This provided a professional appearance to the staff and allowed them to fit seamlessly into the airport environment.
Sales & Customer Service:SPP Marketing Services worked with the product information provided by CIBC to develop a comprehensive sales training manual and developed a classroom and field sales rep training program. This ensured that the sales representatives not only knew the full benefits of the product and how to overcome objections but also understood the competitive credit card landscape and the required approach in the airport environment.
Execution:On site field approach models were tested to determine the best way to attract potential customers to the kiosk while respecting the strict guidelines of the Airport Authority regarding solicitation or aggressive sales. Once the ideal approach/sales script was developed it became institutionalized and used in a uniform manner in airports across the country
RESULTS:The program was a resounding success with hundreds of thousands of travelers signed up for premium and super premium CIBC credit cards directly by SPP Marketing Services personnel in its 7 airport kiosk locations.
LOCATION:Across Canada in all major airports.
TESTIMONIAL:“One such longstanding partnership is the one we have with SPP Marketing Services which helped us build our Aeroplan portfolio by developing a successful business model for marketing credit cards in airports. I had the pleasure recently of sitting down with Elen Steinberg, President & CEO of SPP Marketing Services, to thank her for our 17-year relationship and congratulate her on being named one of Canada’s Top 100 Women by the Women’s Executive Network and a CIBC Entreprenur. It is through successful partnerships like the one we have with Elen and her team that we are able to develop competitive products like Aerogold and our line-up of other first-class travel and everyday rewards cards that meet the diverse needs of out clients.” JF – EVP Products and Payments
CIBC’s Aerogold Visa Infinite card was best in class for the fifth consecutive year in the airline miles category, beating out Capital One’s Delta SkyMiles World MasterCard. – Toronto Star