Summary: Every year, millions of people brave the crowds on Black Friday. Whether they are searching for a deal or hoping to get a jump start on their holiday shopping Black Friday has turned into the busiest shopping day of the year. Financial institutions can take advantage of the Black Friday hype by offering some seasonal promotions.
As the holidays approach, people are beginning to gear up for one of the biggest shopping days of the year, Black Friday. Last year retailers in the United States earned $7.9 billion. This popular holiday is not just for stores though; credit unions can take advantage of this day as well.
Holiday loans, credit cards, and gift cards are all marketing promotions credit unions can use to help capture the Black Friday crowd.
Loans
The holidays bring the season of giving. The average person in the U.S. spends over $1,000 on holiday-related shopping. Holiday loans are a useful promotion for members looking for assistance with their funding their shopping. However, this type of promotion will take some planning to ensure the loan funds are dispersed in time for Black Friday shopping. Consider starting this promotion a month or two in advance to provide your members ample time to apply for the loan and the application to be processed.
Credit Cards
Encourage your members to use your credit union’s credit cards for their holiday shopping by promoting a rewards program. MAP’s Loyalty Rewards program allows your members to earn points for every purchase made with their Visa credit card. These points can then be redeemed for everything from gift cards to merchandise.
Visa Gift Cards
Shopping for the person who has everything can be difficult. That is why Visa gift cards are the perfect gift solution. MAP offers both custom and turnkey gift card programs for credit unions. The Visa-branded gift cards are accepted at any location that accepts Visa cards and can be loaded in balances ranging from $10 to $2,000. The cards also come with design themes like holiday making it the perfect addition to your Black Friday marketing plan.
Final Thoughts
Whether you are considering offering a loan promotion or adding a product like gift cards, Black Friday promotions take planning. To ensure a successful campaign make sure you begin planning early and allow your members enough time to take advantage of the promotion.
Are you interested in learning more about MAP’s credit card or Visa gift card programs? Contact us today.
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