When Co-Operative Financial Services were looking to develop a compelling credit card proposition, and discover the perfect credit customer, they came to Turquoise for the market research.
To develop a compelling credit card proposition which encourages the optimum credit card behaviour amongst both existing and potential Co-operative bank credit card customers
We decided upon a qualitative approach consisting of developmental workshops and with both customers and competitors. Customers were segmented on the basis of their attitude towards credit cards and debt, and we also incorporated our unique profiling tool, System DNA.
The research highlighted perceptions of both credit card customers and also providers within the current marketplace and the impact that the economic climate was having on usage. We were able gain valuable insights for the Co-Op into the management of consumer levels of debt and credit card use. The Co-operative was seen as a very favorable choice of credit card provider with high customer confidence in the perceived ‘ethical’ brand. Click here for more information on our clients, products and services within the financial services industry