Accelerating Revenue Generation
One of the world’s largest financial services company successfully increased revenues
of merchants enrolling with their private label credit card program.
Challenges:
- After three months, only half of new merchants actually used the program
Solution
Our client’s profitability was directly related to how soon and how often the merchants
used the program. CDS trained and developed these new merchants into valuable business
partners:
- Train and coach the appropriate merchant’s staff
- Develop relationships with these merchants
- Share best practices
- Serve as an on-going business partner
Results:
- The number of merchants that used the program in their first three months increased
from 50% to 76%
- Revenue from merchants targeted by CDS were 17% greater than
merchants not included in this program
FACT:
$150 million incremental revenue annually was generated by accelerating revenue
generation of new accounts