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Co-brand with Confidence


Reaping the Rewards of your Rewards Program

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Co-brand with Confidence


Reaping the Rewards of your Rewards Program


How to effectively communicate the value of your Co-Brand Card’s value proposition.


One of the main reasons consumers apply for and use a Co-Brand Card is to access or accelerate the rewards associated with that Co-Brand. However, many rewards programs are complicated, with earning tiers and complex redemption parameters.  While you can’t change the way a complicated value proposition is structured, you can impact how it is communicated. In fact, being able to effectively communicate these programs is the key to increased acquisition and long-term engagement.

Media Logic has worked with several Co-Brand marketers to develop rewards communications that are clear and compelling. Here are some time-tested guidelines that can help maximize the effectiveness of Co-Brand Card rewards messaging.

Strategy 1


K.I.S.S. – Keep it Simple Stupid

Strategy 1


K.I.S.S. – Keep it Simple Stupid

Most consumers spend very little time reading marketing materials, so it’s important that a card’s value proposition is presented in a way that can be quickly scanned and understood. To help do this, you should first break down the value proposition and benefit set, then present the program highlights (i.e., key earning structure, top rewards, etc.).

 

Instead of focusing solely on the earn structure, L.L.Bean showcases how easy it is to enjoy rewards.

 

Because the earn structure of the Marriott Rewards® Premier Credit Card from Chase is complicated, the earn tiers are broken out into separate sections to make it easier to scan and understand.

Strategy 2


Make it tangible

Strategy 2


Make it tangible

A Co-Brand Card’s value proposition is only as good as the rewards it offers. While the ability to earn points or credits is part of that story, it’s also imperative to communicate what the cardholder can get with those points or credits. This should be done in as straightforward a way as possible, making sure to communicate how achievable those rewards can be.  

 

Because Elan’s reward program offers multiple rewards, icons help bring the categories to life.

 

Elan also calls out the minimum number of points needed to redeem a reward.

Strategy 3


Show the math

Strategy 3


Show the math

An effective way to communicate the earn structure and tiers of a Co-Brand Card — and also encourage world spend — is to include examples of how many points or credits can be earned over time. These spend-and-earn conversion charts not only help explain how the earn structure works, but they quickly illustrate how easy it is to earn enough points or credits for redemption.

 

To help educate cardholders on the earning potential of their Kroger 1-2-3 REWARDS® Visa® Card, we incorporated a spend/earn chart on the front of a DM letter.

L.L.Bean features a chart on many communications to help illustrate how easy it is to earn L.L.Bean Coupons fast.

Strategy 4


Boost the bonus

Strategy 4


Boost the bonus

A bonus offer is a great way to drive acquisition, but it’s important the bonus offer is communicated in a way that is easily understood and tied directly to a tangible reward. In our instant gratification world, a bonus offer is only compelling if it can be instantly redeemed for a reward — or at least make a significant contribution toward reward redemption.

 

To promote a bonus offer for the Southwest Airlines Rapid Rewards® Credit Card, we not only made it the focus of our messaging, but we linked it to a Free Roundtrip Award to make it even more enticing. 

Strategy 5


Be repetitive

Strategy 5


Be repetitive

Don’t be afraid to repeat your value proposition every chance you get. Rewards are not only a great incentive for acquisition, but they are also a way to build card loyalty. Successful Co-Brand marketers will regularly communicate their card’s value proposition to keep their cardholders engaged and provide an incentive to use the card for purchases beyond the brand.

 
 

From postcard to catalog bind-ins to online banner ads, L.L.Bean® Visa® cardholders receive regular communications that reinforce the card’s value proposition.

Conclusion


Conclusion



Effectively communicating a Co-Brand Card’s value proposition requires marketers to focus on what is most relevant to prospects and cardholders, and present it in the simplest, most straightforward way possible. When done right, this approach can help increase acquisition, boost loyalty and drive long-term engagement.


 
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The Agency


Who is
Media Logic?

The Agency


Who is
Media Logic?


We are a financial services marketing agency with extensive experience developing marketing strategies and creative executions for Co-Brands across a wide range of vertical businesses and brands.


 

We go BIG on partnership.

 

Financial


sponsorship


hospitality


Retail


Airline/Cruise lines


Automotive

 

We make things happen.

 
 

We are the perfect mash-up of
STRATEGY and CREATIVE.

 
 
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Contact


Get to know us.

Contact


Get to know us.

Jim McDonald, Director of Business Development

If you have a specific Co-Brand need or just want to learn more about Media Logic, email Jim McDonald or call 866.353.3011 x274.