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Personalization matters- especially to Gen Y and Gen Z consumers | BLOG

Personalization matters

October 10, 2017

In developed economies, more than 70% of people over the age of 18 carry at least one financial card. In fact, most of those consumers carry an average of 3.7 credit and debit cards. As the focus shifts to winning over new generations — Boomers, Gen X, Gen Y (Millennials) and Gen Z — personalization becomes even more important. Card marketers will find that the key to brand engagement will be to deliver customization and personalized brand experiences.

FINANCIAL CARD PROGRAMS CAN TAP INTO THE POWER OF PERSONALIZATION

From the beginning, Entrust Datacard worked closely with financial institutions to develop technologies for elevating the personalization of cards. The latest on-demand printing technology— the ability to print completely customized full-color cards, images, labels and carriers as part of the inline card personalization process — creates endless possibilities.

For marketers, incredible differentiation awaits. The technology allows card marketers to give their customers the ability to choose their card design from a gallery of images or a truly custom-uploaded image. Impact on issuance operations is negligible in terms of both speed and cost, which is critical for large-scale adoption. For many operations teams, it’s a simple upgrade to existing hardware.

In other words, without significantly adding cost or slowing the issuance process, card marketers can now offer prospective customers the ability to make each credit and debit card truly theirs. They can capitalize on a growing demand for personalized offerings that reflect the lifestyle, values, interests or preferences of the individual consumer. This personalization tactic achieves product differentiation that attracts new cardholders and deepens loyalty.

Success with new generations of cardholders will require perfect alignment of technology and strategic objectives. The most recent innovations in Entrust Datacard’s complete card-to-envelope solutions give marketers more flexibility than ever to deliver an individualized, immersive experience for cardholders — without impacting operational efficiency. Learn more about the latest print-on-demand technology solutions here.

By Dan Good, Vice President, Payment and Identity Solutions