Visa Signature targets 'new affluent' consumer group
A new advertising campaign launched by Visa USA targets a growing consumer segment, 'new affluents', with promises of unique experiences and new reward opportunities with a Visa Signature card.
The Visa Signature Living campaign made its first appearance in selected print and online media, aiming to drive awareness, preference and loyalty for the Visa Signature card, the company's flagship product for new affluent consumers.
The specific group targeted by the campaign - Visa Signature's core target audience - is defined by Visa as being US households with annual income of US$125,000 or more.
Defying tradition According to Susanne Lyons, executive vice president and chief marketing officer for Visa USA, new affluent consumers defy the traditional notions of affluence and want to get more for their money: "Time is the new currency for this consumer and, as such, they seek more opportunities and easier access to rewarding and distinctive experiences. The Visa Signature Living campaign speaks to this consumer's desire for experiential opportunities rather than material possessions."
Appearing throughout the US until September 2007, the campaign aims to illustrate how the card helps cardholders do what they want to do but had never thought possible. Initial print ads will appear in national publications with the highest concentration of new affluent consumers in their readership, as well as targeted categories where Visa Signature cardholders report the highest usage such as restaurants, travel, food and home electronics.
Aspirational partnerships "The aspirational connections consumers forge with media such as Condé Nast Traveler, Wine Spectator, Golf Magazine, Vanity Fair, and Smithsonian is exponentially greater than traditional mass media targets. These associations are the building blocks of Visa Signature's marketing and reflect the type of insights into the new affluent demographic that have made this product a success," said Lyons.
The first of several print ads features an list of aspirational activities, ranging from drinking a mint julep at the Kentucky Derby to skiing fresh tracks at Deer Valley. The list of things to do in life is set against a background image of an individual relaxing in an infinity pool overlooking a mountainside and gulf, with the tag line "do everything on your life's list of things to do".
The online campaign includes targeted travel, food and dining, sports and leisure, and lifestyle Web sites. Additionally, content from selected web sites, such as National Geographic, Epicurious, The New Yorker, and Concierge.com, will also be integrated into the card's web site and campaign.
Card benefits In addition to access to a range of airline, hotel and other reward partners, cardholders have access to round-the-clock free concierge services through the Visa Signature Concierge, reservations at some of the best-known restaurants, special merchant offers, and access to events such as the Kentucky Derby, the Super Bowl, and the Tony Awards.
Visa cardholders have an average annual spend (per active card) of approximately US$25,000, which is higher than Visa's ordinary consumer credit averages. In the quarter ending September 30, 2006, volume on Visa Signature grew by 16.8% to US$34 billion in a year-on-year comparison.
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