Press Releases

September 23, 2004

Online Customer Acquisition for Credit Card Companies is Essential to Expanding Customer Base

Williamstown, MA - Sept. 23, 2004 - In the latest research from Change Sciences Group, Inc. the importance of online customer acquisition is addressed. Credit card companies need to get a piece of the online card market to increase their number of cards sold. The average cost of obtaining a new customer online is approximately $120, and with customer acquisition costs down this is a great sector to utilize.

Sites with the best practices in design are well positioned to help the consumer move comfortably from browsing to committing to a card. Change Sciences Group selected 14 of the largest credit card companies to analyze. The focus of the research is on the experience the customers have while interacting with a particular website. The research examines 3 customer scenarios: the 'First Time Buyer', the 'Credit Revolver' (one who switches card companies to retain the low introductory APR) and the 'Monthly Payer' (the user who uses the card extensively, but pays it off in full each month).

Change Sciences has expanded its research coverage to include multiple customer profiles and new customer goals. Several new companies have also been added to the rankings for this quarter. Previously, the online application process was the sole focus. This quarter, the report looks at several entry points to the site (driven from the home page, email ads, or mailings) and presentation of product details in addition to the application.

For more information about purchasing this report from Change Sciences visit the MindBranch page at: http://www.mindbranch.com/catalog/product.jsp?code=R612-0016. Be sure to also check out the research reports from over 350 publishers and 50,000+ reports. Our friendly sales staff is looking forward to talking with you! Call 1-800-774-4410 or find us on the web at www.mindbranch.com

About Change Sciences: Change Sciences was founded in January 2000 with the idea that companies can optimize key business processes by basing decisions about technological change on how people use technology while they live, work, and play.

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