Sunday, February 9, 2014

The Card That Actually Cares

Discover Card has a reputation as an innovator in the credit card industry.  They were the first to offer no annual fee cards and the first to offer cash back rewards, both of which have been widely adopted by the rest of the industry.  These benefits, among numerous others, served as excellent points of differentiation between Discover and its competitors, helping to position the brand as the most consumer-friendly credit card in your wallet.    

Although Discover's competitors adopt its innovations with the hopes of keeping up, Discover keeps finding new ways to live out its strategy as card that cares most about it's cardholders - its latest is offering free monthly FICO credit scores to their "it" cardholders, printed right on the statement.  This is an absolutely brilliant idea that will further reinforce Discover's position as the consumer-friendly brand.  Additionally, it's a great example of how a brand purpose should drive the actions of a company.  They live up to their own billing instead of tossing around empty slogans and promises and hoping for the best.

It's no surprise then that Discover, while only the forth biggest credit card brand, has ranked #1 in consumer loyalty 17 years in a row among credit card brands base upon Brand Keys Consumer Loyalty Engagement Index report.

Just an example of truly great marketing worthy of shout out.

As always, thank you for reading a sharing. 

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