ATLANTA -- If credit unions want to offer their entrepreneurial members a competitive small business credit card, they should consider one with a cash back and/or gasoline discount reward structure.
That is one of the conclusions that could be drawn from a study of small business card rewards conducted by Synergistics, a leading market research firm. The Tailoring Card Services For Small Businesses report found what the firm called a "gap" between the card rewards that small businesses said they want from their cards and the rewards that they actually have available, according to an announcement of the survey's findings.
"Rewards marketing has become an increasingly important aspect of small business card programs," said Genie Driskill, chief operating officer for Syergistics. "Results from the study reveal that, while many small businesses have cards with rewards, these rewards are not necessarily those that are valuable or needed. There is a real opportunity for a small business credit card issuer to differentiate themselves from their competition through emphasizing rewards that are highly valued by small business owners and executives," she said.
That is one of the conclusions that could be drawn from a study of small business card rewards conducted by Synergistics, a leading market research firm. The Tailoring Card Services For Small Businesses report found what the firm called a "gap" between the card rewards that small businesses said they want from their cards and the rewards that they actually have available, according to an announcement of the survey's findings.
"Rewards marketing has become an increasingly important aspect of small business card programs," said Genie Driskill, chief operating officer for Syergistics. "Results from the study reveal that, while many small businesses have cards with rewards, these rewards are not necessarily those that are valuable or needed. There is a real opportunity for a small business credit card issuer to differentiate themselves from their competition through emphasizing rewards that are highly valued by small business owners and executives," she said.
