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Product Backgrounder
Product Name: SmartCredit
Product Description
SmartCredit is a credit card risk management service that uses a customer’s or applicant’s
credit history and transaction history to set the optimum credit line and interest rate that
will encourage the customer to build a profitable credit balance but reduce the risk of
delinquency and default.

Target Markets / Segments
Small to Medium Size Credit Card Issuers

Market Needs / Challenges
Must profitably compete against the top 10 card issuers for new cardholders. As credit
issuing requirements have tightened, the potential number of prospects has reduced, so it
is more difficult to acquire new cardholders.

Buyer Profiles / Needs / Challenges / Goals
VP of Cards – must grow total outstanding balances from a reduced number of prospects.
VP of Risk – must keep delinquencies under industry averages but still support VP of
cards in growth of balances.
VP of Technologies – needs solutions that offer comparable capabilities of top 10 card
issuers but at much lower cost.

Positioning Statement
For [small to medium size credit card issuers], Who wants/needs [must gain market share
from the top 10 card issuers], The [SmartCredit service] is a [credit card risk management
service], That provides [cost effective risk management].
Unlike [Big Vendor], The [SmartCredit service] [can be implemented in less than three
months and requires no capital investment]

Key Messages
Achieves the same risk management power that the large competitors have.
Delivered as a service with no custom development and capital investment.
Allows you to quickly adapt new risk management strategies as market conditions
change.

Key Benefits/Value Proposition
Compete cost effectively and take market share from top 10 competitors
Profitably grow outstanding balances without increasing delinquencies and write-offs




Copyright © 2010 Lûcrum Marketing                                                           1
Sales Questioning Guide
Market Segment:
Small to Medium Size Credit Card Issuers

Market Challenges:
Must compete against top 10 credit card issuers who have more marketing budget and more sophisticated
risk management capabilities.

Buyer:
VP of Cards – must grow total outstanding balance by acquiring new customers and building balances but
doesn’t have the right tools to do this

         Challenge                           Impact                     Capability                      Benefit

Current system does not             Can’t create a robust risk   SmartCredit is already        Able to create a robust
integrate with more                 profile which means they     integrated into the richest   risk profile and make
detailed credit history             must be more                 and most detailed credit      more profitable decisions
                                    conservative on              data. You just provide the    on each new applicant or
                                    assigning credit lines       name and SSN.                 current cardholder.
                                    which reduces balance                                      Results in up to 6%
                                    build.                                                     increase in balance build.

Does not have budget to             Unable to aggressively       SmartCredit is a hosted       You avoid any capital
upgrade current system              compete for new              service that you pay only     expense and can pay for
to same levels at top 10            accounts, which means        for each applicant /          this from your
issuers.                            they can’t achieve           customer that is rated.       operational budget,
                                    growth goals.                                              meaning that you can
                                                                                               implement now and
                                                                                               receive immediate
                                                                                               benefits.


Can’t quickly change                Offered rates that are too   SmartCredit offers a          You can quickly (3 to 6
interest rates as their             high may cause account       simulation capability that    months faster) adapt to
cost of capital changes.            closures. Offered rates      allows you to plug in new     market changes and
                                    that are too low result in   parameters and evaluate       optimize your credit
                                    reduced profits or too       the impact of adjusting of    portfolio for the best
                                    much risk.                   interest rates on balance     profitability based upon
                                                                 build and risk of             new market conditions.
                                                                 delinquencies and write-
                                                                 offs.




Copyright © 2010 Lûcrum Marketing                                                                                    1

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Your Sales People Do The Darndest Things Worksheet Example

  • 1. Product Backgrounder Product Name: SmartCredit Product Description SmartCredit is a credit card risk management service that uses a customer’s or applicant’s credit history and transaction history to set the optimum credit line and interest rate that will encourage the customer to build a profitable credit balance but reduce the risk of delinquency and default. Target Markets / Segments Small to Medium Size Credit Card Issuers Market Needs / Challenges Must profitably compete against the top 10 card issuers for new cardholders. As credit issuing requirements have tightened, the potential number of prospects has reduced, so it is more difficult to acquire new cardholders. Buyer Profiles / Needs / Challenges / Goals VP of Cards – must grow total outstanding balances from a reduced number of prospects. VP of Risk – must keep delinquencies under industry averages but still support VP of cards in growth of balances. VP of Technologies – needs solutions that offer comparable capabilities of top 10 card issuers but at much lower cost. Positioning Statement For [small to medium size credit card issuers], Who wants/needs [must gain market share from the top 10 card issuers], The [SmartCredit service] is a [credit card risk management service], That provides [cost effective risk management]. Unlike [Big Vendor], The [SmartCredit service] [can be implemented in less than three months and requires no capital investment] Key Messages Achieves the same risk management power that the large competitors have. Delivered as a service with no custom development and capital investment. Allows you to quickly adapt new risk management strategies as market conditions change. Key Benefits/Value Proposition Compete cost effectively and take market share from top 10 competitors Profitably grow outstanding balances without increasing delinquencies and write-offs Copyright © 2010 Lûcrum Marketing 1
  • 2. Sales Questioning Guide Market Segment: Small to Medium Size Credit Card Issuers Market Challenges: Must compete against top 10 credit card issuers who have more marketing budget and more sophisticated risk management capabilities. Buyer: VP of Cards – must grow total outstanding balance by acquiring new customers and building balances but doesn’t have the right tools to do this Challenge Impact Capability Benefit Current system does not Can’t create a robust risk SmartCredit is already Able to create a robust integrate with more profile which means they integrated into the richest risk profile and make detailed credit history must be more and most detailed credit more profitable decisions conservative on data. You just provide the on each new applicant or assigning credit lines name and SSN. current cardholder. which reduces balance Results in up to 6% build. increase in balance build. Does not have budget to Unable to aggressively SmartCredit is a hosted You avoid any capital upgrade current system compete for new service that you pay only expense and can pay for to same levels at top 10 accounts, which means for each applicant / this from your issuers. they can’t achieve customer that is rated. operational budget, growth goals. meaning that you can implement now and receive immediate benefits. Can’t quickly change Offered rates that are too SmartCredit offers a You can quickly (3 to 6 interest rates as their high may cause account simulation capability that months faster) adapt to cost of capital changes. closures. Offered rates allows you to plug in new market changes and that are too low result in parameters and evaluate optimize your credit reduced profits or too the impact of adjusting of portfolio for the best much risk. interest rates on balance profitability based upon build and risk of new market conditions. delinquencies and write- offs. Copyright © 2010 Lûcrum Marketing 1