Guest blogger: Bob Daly, Senior Vice President of Marketing, U.S. Bank
There are crowded markets, jam-packed markets and just-about-ready to overflow markets. And then there’s the reward credit card space, which continues to pack in more and more highly competitive offers, boosted by increasingly rich new account incentives. Welcome to my world. At U.S. Bank, I have responsibility for affluent credit cards and loyalty operations. It’s my daily challenge to make sure our voice is getting heard above the roar of our competition by ensuring we offer products consumers want and provide the best service when they need it.
Building success and trust using data-driven strategies
Just take a trip to your physical mailbox or make a few clicks in your virtual one, and you’ll see what I mean. There is a proliferation of offers in the marketplace, and they’re becoming richer every day. Consumers’ expectations are rising, and once they catch hold of a robust deal, ones of lesser value are less likely to grab their attention.
Even with these challenges, U.S. Bank still maintains successful reward card portfolios in our tough-as-nails world. How do we stay on top? Using data, of course. Our FlexPerks Reward cards – born out of the second-largest Visa airline co-branded product in the world – is an example of how we collect pertinent data to stay successful and maintain trust. The data we gather helps us understand how to inform the value proposition of almost every aspect of the FlexPerks Rewards program. Without it, our program would end up at the bottom of the reward offerings pile.
Ignite 2107: What you need to know today – If you’d like to learn more about how we’re mining dining to drive loyalty in an increasingly fickle world, I hope you’ll come to my presentation at the Ignite 2017 Marketing Conference https://carlsonschool.umn.edu/conferences/ignite-conference on October 19 in Minneapolis, Minnesota.