Chase Sapphire's Contributions Program Analysis
By focusing on experiential events and not just appearing affluent, Chase and Ketchum developed a plan to take their value proposition to a whole new level for card members. The Chase Sapphire’s approach entailed rewarding card members with unique experience, dining, travel and entertainment. This new rewards program was developed by Chase and the public relations firm, Ketchum, in order to differentiate Chase Sapphire from other cards reward programs. The idea of Chase Sapphire’s rewards program was to concentrate on key pillars revolving around travel, film, entertainment and dining that was unlike any of the competing card’s rewards programs. Chase and Ketchum chose college educated, engaging, affluent card member for their once-in-a-lifetime
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The business objective to increase national awareness exceeded more than their expectations by more than 50 percent and surpassing their original goal by 400 percent. Chase received positive feedback from their communications objective by primarily focusing on their card members experiences instead of offering them more “stuff”. Chase Sapphire’s communications objective resulted in Chase Sapphire’s unique experiences being mention in nearly 90 percent of all coverage, including two being featured in two positive article in The Wall Street Journal. The media objective to secure more than 150 million media impression also exceeded expectations by receiving more than 185 million media …show more content…
Currently, Chase Sapphire’s target audience is affluent consumers. More specifically, the top 15 percept of U.S. households based on income who value “their tome” over “their money”. However, instead of strictly focusing on the wealthy, I believe Chase and Ketchum should make their target audience the cardholders who’ve remained with Chase the longest. Switching the target audience to members who’ve been with Chase the longest allows Chase to hold a considerable reputation by rewarding those who have always remained loyal to the Chase company. The most affluent members of Chase’s program are probably those who have successful jobs, run companies, and have responsibilities. Therefore, it could make it harder for the Chase members to create time to experience the Chase Sapphire rewards program. However, those members that have remained loyal to Chase are probably older; therefore, card holders have more time on their hands, have their affairs set in order, and are looking for more experiences instead of tangible rewards. By focusing on the customers whose have remained with Chase the longest, it shows that Chase recognizes and rewards their members, and also gives the older members an opportunity to bring their friends and family to these unique events allowing them to bond with their loved ones all thanks to the Chase Sapphire rewards
The business objective to increase national awareness exceeded more than their expectations by more than 50 percent and surpassing their original goal by 400 percent. Chase received positive feedback from their communications objective by primarily focusing on their card members experiences instead of offering them more “stuff”. Chase Sapphire’s communications objective resulted in Chase Sapphire’s unique experiences being mention in nearly 90 percent of all coverage, including two being featured in two positive article in The Wall Street Journal. The media objective to secure more than 150 million media impression also exceeded expectations by receiving more than 185 million media …show more content…
Currently, Chase Sapphire’s target audience is affluent consumers. More specifically, the top 15 percept of U.S. households based on income who value “their tome” over “their money”. However, instead of strictly focusing on the wealthy, I believe Chase and Ketchum should make their target audience the cardholders who’ve remained with Chase the longest. Switching the target audience to members who’ve been with Chase the longest allows Chase to hold a considerable reputation by rewarding those who have always remained loyal to the Chase company. The most affluent members of Chase’s program are probably those who have successful jobs, run companies, and have responsibilities. Therefore, it could make it harder for the Chase members to create time to experience the Chase Sapphire rewards program. However, those members that have remained loyal to Chase are probably older; therefore, card holders have more time on their hands, have their affairs set in order, and are looking for more experiences instead of tangible rewards. By focusing on the customers whose have remained with Chase the longest, it shows that Chase recognizes and rewards their members, and also gives the older members an opportunity to bring their friends and family to these unique events allowing them to bond with their loved ones all thanks to the Chase Sapphire rewards