Have you figured out how to hand onto customers who can’t spend? You aren’t the only one facing this issue, so is American Express.
“American Express Co. customers are still paying $550 a year for a premium travel card during the pandemic, they’re just not using it as much while stuck at home. Revenue and spending on cards each fell roughly 30% in the second quarter despite the firm’s efforts in the early days of the Covid-19 outbreak to rework some of its most popular products, adding benefits such as credits for streaming services. Profit tumbled 85%.”Jennifer Surane of Bloomberg
At E6 Solutions, we can help you create new automated processes to maintain those customer relationships through hard economic times.