thirdly, a series of co-branded cards and business travel service measures are launched for business travelers to enhance the contribution of business travel customers. In March 26, our bank and China International Airlines, the largest air passenger company in China, jointly launched the "Air China Companion" CITIC Credit Card, and launched the first domestic Air China Companion Platinum Credit Card. In just eight months, the number of cards issued reached 1,. In addition, CITIC Bank and Ctrip.com (C-TRIP), the largest business travel service company in China, launched the "CITIC Ctrip Business Travel Line" to provide customers with one-stop service for business travel, and pioneered the "flight delay guarantee" service in China. At present, the number of air tickets booked by CITIC Bank's credit card has ranked second in the sales channel of Ctrip.com, which has been well received by customers. Due to the excellent service system and market performance of our corporate card products, JP JPMorgan Chase Bank selected our bank as a strategic partner to provide global service corporate card products for its customers in more than 2 large multinational companies in China. In November 26, our bank and JP JPMorgan Chase Bank formally signed the "Business Card Alliance Agreement", which further expanded the development space of our business card.
fourthly, by strengthening the construction of merchant system and the innovation of co-branded card products, we will vigorously expand the mass consumption field. Since 26, the Bank has continued to carry out the "Preferential Day" of CITIC's credit card installment business nationwide, and cooperated with GOME, the largest home appliance retailer in China, and many brand merchants in major cities to carry out the closing sales activities of cardholders, so as to create the special service of the Bank's installment business and significantly increase the consumption of credit cards. At the same time, in September 26, our bank cooperated with Shanghai McCawlin Company, the largest mail order company in China, to launch "CITIC McCawlin Co-branded Credit Card", which became the first credit card product in China that closely combined e-commerce with flexible and convenient payment methods of credit cards, and was well received by customers. At the same time, the Bank has carried out in-depth cooperation with well-known department stores in major cities in China. In the second half of 26, it successively launched the first platinum department store co-branded credit card-CITIC Yansha Mall Credit Card with Beijing Yansha Friendship Mall, a top department store in China, and successfully launched CITIC Xindaxin Co-branded Credit Card with Guangzhou Xindaxin Company, which locked in a large number of high-quality customers of department stores and gained the first-Mover advantage in the field of department store co-branded credit cards in China.
tapping customer value
successful marketing: which does citic pay more attention to, between increasing circulation and ensuring user level (obtaining interest rate)? Create a brand image first, or expand the user scale first? What do you think of the relationship among brand, scale and function?
Chen Jin: In the rapidly developing credit card market in China, brand and market share are a dialectical and unified relationship, and there is no question of which is more important. Market share is the foundation and key symbol of brand, and brand promotes the promotion of market share to a great extent.
In recent two years, the development of CITIC Credit Card has embodied the principles of "efficiency, quality and scale" and "customer acquisition, customer management and customer value-added". In terms of benefits, the first thing is to be in an invincible position, strictly control costs and risks, and some businesses can not develop, forming zero costs and not being negative, and then pursue profits on this basis and find ways to increase income. In the third stage, you can enter the growth stage, and you can gain one by adding one customer, instead of blindly pursuing scale expansion first. It can be seen that there are light and heavy benefits, quality and scale, and they are dialectical integration.
Successful Marketing: While expanding the user base, how to retain existing users, improve their loyalty and lifelong value? How does CITIC manage the customer relationship? How to quickly and effectively accept users' feedback and make appropriate responses?
Chen Jin: CITIC Bank took the lead in setting up the Business Intelligence Group (BIU) in China's credit card industry, providing support for credit card marketing and risk management through data mining and modeling. In 26, the Bank and the Chinese University of Hong Kong jointly carried out the research on the application project of customer relationship management in commercial banks, and began to establish a scorecard system, actively using customer relationship management and data mining technology to analyze customer consumption behavior and risk behavior, so as to improve the effectiveness of market segmentation and risk management. For example, by subdividing customer groups for precise marketing, we can achieve better activity results at low cost. From September to November, 26, the Bank launched the "Magic Anniversary Celebration" for female cardholders, and launched a number of marketing measures, such as preferential medical examination for women, insurance upgrade, cash withdrawal and installment payment, to continue the operation of magic credit card holders and boost the consumption of female cards by 45% within two months.
1 million cards were issued in p>21
Successful Marketing: What problems did CITIC encounter in marketing and what are the problems that need to be solved and improved at present?
Chen Jin: The Regulations on the Administration of Foreign-funded Banks, which came into effect in December 26, stipulates that foreign-funded banks can be fully qualified for RMB retail business and allowed to engage in bank card issuance business after being registered as "corporate banks" locally. As an emerging market with the greatest development potential in the world, China's credit card market is bound to attract more card-issuing banks to join the competition. In 27, the credit card industry will present a higher level of competition: First, the market competition will enter the stage of "market segmentation" from "popularization", and the innovation ability of card-issuing banks will face greater challenges. Banks will expand the market from "casting a wide net" and start to enter the stage of market segmentation. They must cultivate the market according to different standards and entry points and attract customers through innovative models and unique services.
At present, the key customers of CITIC Bank's credit card focus on high-end people and young people, and the market we will explore also includes investment and wealth management people. With the popularization of wealth management concepts and the increase of investment demand, credit cards can be upgraded from consumption function to wealth management function, and more wealth management services can be arranged to attract customers. Second, foreign banks may concentrate on high-end customers and key areas, and the customer management ability of domestic banks will face greater challenges. Driven by the restriction of outlets and the maximization of profits, concentrating resources to provide services for high-end customers in key areas will still be the key strategy for foreign banks to operate credit card business, which is a major test for the localization operation ability of Chinese banks.
Successful Marketing: What is the goal of CITIC Bank's credit card in the next three years? For example, what is the market share and the card opening rate? Among domestic credit card institutions, has it been set that the credit card institution of CITIC Bank should rank first?
Chen Jin: In the next three years, the cumulative number of credit cards issued by CITIC will reach 1 million, striving for a first-class credit card brand, becoming a credit card center with considerable business scale and profitability with respect from customers and satisfaction from employees, and striving to be at the forefront of competition between Chinese and foreign commercial banks.