Professional Documents
Culture Documents
Chase Sapphire
Chase Sapphire
by JP Morgan Chase
Market Response
• The Points guy quoted ‘it sounded way too good to be true’
• Fueled by social media and online forums, news about the card
spread quickly to ‘points junkies’
• The annual acquisition goal was reached in just 2 weeks
6 Social Media Strategy
• Rather than investing in traditional advertising, they turned to media
platforms and influencers that were more pertinent to the affluent
The Launch of the millennial consumers
Chase Sapphire • Engaged relevant influencers spreading the word within their communities
Reserve Card • Partnering with TV personalities, producer/directors, comedians,
photographers, food & travel creator
• The celebrities shared their experience through 20 unique, highly
engaging social content delivered to millions of followers
• Hosted media events, advertised with online video content (VOX media)
• Created the sense of limited availability, to give a feel of exclusiveness
PREFERENCE
The target audience • “An AMEX says you are rich, but this
comprises of young says you are interesting”
successful millennials, in • Millennials who are considered not
the age bracket of 25- pay a high fee for anything, would
44 years prefer to pay for value
ACTION
Challenges
Creating value from
Chase Sapphire Reserve • Dip in net revenue rate for card services
customers • Will Reserve customers renew their accounts?
• Low barriers to switching credit cards
Objective
• Provide superior value to consumers along with managing
the economics of the program
Solution
• Rewards are enough to generate loyalty – Lorraine
Hansen, Head of Ultimate Rewards
Promotions
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• “So You Can” campaign on Facebook
-- Reinforce card’s value proposition
-- Driving small-ticket transactions eg. Bike rentals, food
truck purchases
Use of social media by • Instagram - #SapphireOnLocation and #SapphireSix to showcase
Chase Sapphire meal and travel experiences
• Highlight special offers only available to top of the line card
holders by working with celebrity model Chrissy Teigan
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Assessing Performance
at Chase Sapphire Key •Business driven via social media
•Customer engagement score based on responses
Performance received
•Grievances resolved via social media channel
Indicators •Number of renewals
Alignment to brand’s •Income Distribution
business objectives •Overall vs Target Segment Growth
ROI
Operational ROI Productivity ROI Strategic ROI
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Way Forward
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