Dr Profitable

Knowing which industry presents your best prospects often helps when pinpointing which of your customers are most profitable. Credit card marketer MBNA (Maryland Bank of North America) is a good example. Profitable customers in the credit card business have three characteristics in common: they charge a lot on the card, carry the occasional bal-

  • 67% Physicians
  • 47% Lawyers
  • 67% Dentists
  • 67% Physicians

Figure 1.4 Percentage of Target Carrying MBNA Credit Cards

Source: MBNA Annual Report.

ance, and rarely default on their loans. MBNA discovered that this profile happens to be consistent with that of certain professionals such as dentists, lawyers, and doctors.

Well-known for its affinity-marketing prowess, MBNA built cards to appeal to these three vertical markets. They got cozy with the necessary professional organizations and built dominant market share in the incredibly saturated small business credit card market; today, 47 percent of lawyers and 67 percent of all dentists and physicians in the United States carry an MBNA card (see Figure 1.4).

Was this article helpful?

0 0
Guide To Internet Entrepreneurship

Guide To Internet Entrepreneurship

Discover What It Really Takes To Succeed And Profit From Your Online Business And Find Out The Little Discussed Facts That People Ignore - Or Choose To Ignore - That Makes You Either An Internet Entrepreneur Or Simply, Plain Broke! The Ultimate Factors That Decide Your Internet Business Journey And Success Has LITTLER To Do With The Techniques You Use Or The Programs You Join Than You Expected!

Get My Free Ebook

Post a comment