The FINANCIAL — Visa Inc. on October 21 announced the launch of Visa Integrated Marketing Solutions (VIMS), a card marketing platform designed to help small to medium-sized issuers optimize their marketing efforts.
The VIMS platform enables the development and execution of key marketing services across the customer lifecycle – from acquiring new customers to cardholder retention. VIMS is a service offered by Visa Performance Solutions which provides a range of advisory services to issuers, merchants, and acquirers, according to Visa Inc..
“This new offering leverages the power of the Visa network to enable our issuing partners to more effectively target and market to customers, members and prospects,” said Doug Leighton, head of community accounts at Visa. “With unique insights that only Visa can provide, we can help our clients identify the best customers, drive higher levels of engagement, drive loyalty with cardholders, and deploy their marketing dollars more efficiently.”
VIMS aligns many of Visa’s existing card marketing capabilities to offer an end-to-end platform that can be customized to meet clients’ individual needs. Card issuers and partners can combine information about their own customers with powerful insights from more than 100 billion transactions that flow through the Visa network each year, as well as other third-party demographic, lifestyle and economic data to inform their programs. This combination increases the effectiveness of customer marketing strategies and leads to more impactful, creative work. Once the campaign is complete, issuers will receive detailed reporting and analysis that highlights their return on investment – including access to benchmark data and business intelligence only available through VIMS.
VIMS is designed to help card issuers at every stage of the lifecycle from new customer acquisition to existing customer management, including:
Campaign Design and Strategy: Leverage market-proven strategies and tactics to create winning acquisition and marketing campaigns.
Targeting, Segmentation and List Development: Draw on best-in-class analytics and modeling capabilities to better identify customers and prospects.
Offers and Creative Design: Develop more effective offers and creative designs, with templates that can be customized with issuers’ branding, card art, and product specifications.
Campaign execution across channels: Execute campaigns across multiple channels, including traditional direct mail and new digital and social streams.
Tracking and reporting of campaign results: Receive timely analysis with benchmarks and insights to make future campaigns even more effective.
VIMS is currently available to any Visa issuer in the United States interested in increasing the performance of their Visa consumer credit or debit portfolios, and the platform is expected to expand globally in the coming months.
“Visa is committed to helping improve performance and profitability of each of its financial institution partners,” said Hasan A. Malik, the global head of Visa Performance Solutions. “Our team draws upon Visa’s extensive payments industry experience and the latest marketing best practices to come up with solutions tailored to clients’ needs.”
VIMS launched its first campaign in late September. The platform will include expanded digital and social media marketing capabilities, and other new features including multi-lingual marketing in 2016.