- Briefing Room
- Consumer Engagement
- Commerce 3.0
With the addition of Bank of America’s BankAmeriDeals program, Cardlytics announced today that its nationwide Transaction-Driven MarketingTM system now incorporates more than 320 financial institutions reaching more than 75 million U.S. households. Marketers are using Cardlytics to deliver relevant rewards and advertising based on individual consumer shopping behavior, resulting in substantial and measurable increases in retail store sales nationally.
Transaction-Driven Marketing delivers significantly greater “Engaged Scale” than traditional online and off-line media. The impact of Cardlytics’ system now reaches:
“Cardlytics markets to consumers in places they frequently visit -- mobile banking, online banking, email and social media -- at times when they are managing their budgets or out shopping,” said Lynne Laube, President of Cardlytics. “On average, consumers access our channels more than nine times per month. With more than 12M households using our mobile solutions monthly, engagement will continue to accelerate given consumers’ almost daily use of mobile banking.”
Through Cardlytics, consumers can ‘accept’ offers by activating them online or through their mobile devices. This acceptance enhances program ROI by ensuring that retailers are only paying for visits generated by their Transaction-Driven Marketing campaign. Average activation rates are currently between 15% and 20%, with activation rates for individual campaigns reaching as high as 50%. This engagement reflects the broad consumer acceptance of Cardlytics’ programs. By deploying technology within its partner financial institutions, Cardlytics leverages all of a household’s purchases to target and measure marketing in a way that fully protects consumer privacy and financial institutions’ data.
Additionally, Transaction-Driven Marketing allows marketers to more precisely measure the return on their marketing investment. “We utilize actual purchase data in combination with rigorous test and control group methodologies to measure ROI down to the penny, and Cardlytics provides marketers with a closed-loop direct marketing solution with no up-front costs,” explained Pat Venker, SVP of Merchant Analytics and formerly of Catalina Marketing and Nielsen. “We frequently report incremental ROI over 600% and demonstrate multiples of the campaign ROI to the retailer 12 months after the first campaign.”
Cardlytics is aggressively expanding its network to local retailers as well as international markets. In the U.S., local sales teams work with leading retailers in the top 43 metropolitan statistical areas (MSAs). Through its previously announced partnership with Aimia, the global leader in consumer loyalty, Cardlytics is bringing Transaction-Driven Marketing to retailers globally.
“Marketers around the world share the common challenge of how to grow revenues with less marketing investment,” said Scott Grimes, CEO of Cardlytics. “Transaction-Driven Marketing gives CMOs a new tool to drive growth far more effectively than traditional media with measurability that even excites the CFO. Our proprietary big data technology unleashes the data assets of billions of transactions, positioning us at the forefront of defining how retailers and financial institutions can partner to best meet the needs of consumers.”
Cardlytics is the pioneer and leader of the cutting edge field of Transaction-Driven MarketingTM, expected to grow into a multi-billion industry in the US over the next four years, according to the Aite Group. The company's unique advertising platform enables banks to deliver rich, relevant rewards to its customers based on purchasing history while fully protecting their privacy. Since its founding in 2008, Cardlytics has been a leader of innovation with recent accolades including being named one of the 100 most innovative private companies in the world by Red Herring. The company has also over $60MM in venture capital from leading investors in both Silicon Valley and Boston, and a strategic investment from the world’s leading loyalty company, Aimia. For more information about Cardlytics, visit http://www.cardlytics.com.