The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking
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Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking
#2What a fluff piece. Strong sign ups driven by 100,000 bonus points doesn't prove anything much regarding the card's ability to retain its users. They gloss over the actual outcomes of the bank's efforts to reduce attrition, then provide very little in the way of what they're actual going to do differently with their retail banking division.
Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking
#3What a fluff piece. Strong sign ups driven by 100,000 bonus points doesn't prove anything much regarding the card's ability to retain its users. They gloss over the actual outcomes of the bank's efforts to reduce attrition, then provide very little in the way of what they're actual going to do differently with their retail banking division.
Especially since, last I heard, they are still trying to figure out how to make money from the Sapphire Reserve.
http://www.foxbusiness.com/features/2017/07/28/sapphire-rese...
Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking
#4So she’s a marketing genius for selling $2300 of rewards for $450?
(100k points at around $0.02 per point [0] plus $300 of travel credit)
Also, you had to go on a “listening tour” to discover that wealthy young professionals enjoy traveling and eating at restaurants?
[0]: https://thepointsguy.com/2015/03/redeeming-chase-ultimate-re...
Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking
#5So she’s a marketing genius for selling $2300 of rewards for $450? (100k points at around $0.02 per point [0] plus $300 of travel credit) Also, you had to go on a “listening tour” to discover that wealthy young professionals enjoy traveling and eating at restaurants? [0]: https://thepointsguy.com/2015/03/redeeming-chase-ultimate-re...
The whole reason why credit cards provide benefits is because "points" cost less to them than the nominal dollar value. I'm pretty sure that Chase has done the math on that.
Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking
#6So she’s a marketing genius for selling $2300 of rewards for $450? (100k points at around $0.02 per point [0] plus $300 of travel credit) Also, you had to go on a “listening tour” to discover that wealthy young professionals enjoy traveling and eating at restaurants? [0]: https://thepointsguy.com/2015/03/redeeming-chase-ultimate-re...
The whole reason why credit cards provide benefits is because "points" cost less to them than the nominal dollar value. I'm pretty sure that Chase has done the math on that.
It’s irrelevant that it’s marginally profitable. The problem is that the article makes it sound like nobody ever thought of giving away free money before. It’s not genius marketing by any stretch of the imagination.
Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking
#7[flagged]
Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking
#8"Mastermind" - giving away a ton of points for a card that is doing it's best to be an Amex Platinum?
I don't see how "copy the most successful prestige card" and "Give a huge point bonus higher in value to the consumer than the cost of the card to the consumer" is a mastermind strategy.
Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking
#9Earlier quoted context omitted.
The whole reason why credit cards provide benefits is because "points" cost less to them than the nominal dollar value. I'm pretty sure that Chase has done the math on that.
It’s irrelevant that it’s marginally profitable. The problem is that the article makes it sound like nobody ever thought of giving away free money before. It’s not genius marketing by any stretch of the imagination.
If it was simply a matter of giving away benefits and points for free, why is it (as alleged by the OP) that Chase/JP Morgan managed to such a major encroachment into the premium market due to the Sapphire? Sure, “anyone” can brainstorm a benefits package and viral branding and yet Chase seems to have dominated this phase at the particular moment.
Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking
#10Earlier quoted context omitted.
It’s irrelevant that it’s marginally profitable. The problem is that the article makes it sound like nobody ever thought of giving away free money before. It’s not genius marketing by any stretch of the imagination.
If it was simply a matter of giving away benefits and points for free, why is it (as alleged by the OP) that Chase/JP Morgan managed to such a major encroachment into the premium market due to the Sapphire? Sure, “anyone” can brainstorm a benefits package and viral branding and yet Chase seems to have dominated this phase at the particular moment.
Because they were giving people $1500 to sign up for their card effectively. I am one of those people that signed up. I signed up for no reason other than I am getting a tremendous amount more than what I am paying for. Last December Chase announced that they lost about 2-300 million off their profits due to the generous promotion. If I taped a dollar bill to every can of Coke and sold them for 50 cents and the sales of Coke exploded, would you say I put a marketing coup on Pepsi? Chase still has extremely generous benefits even without the promo I am wondering how long it will last. As long as it does I will keep the card.