Credit Card Program Development-Leading Cosmetics Retailer
Background
Our client had been managing a highly successful customer loyalty program for many years
The company was seeking to create a credit card program that would be integrated with its existing loyalty program
The company was seeking guidance in the design of the card reward program, understanding the revenue costs aspects of the card program and building a relationship with a card issuer and payment network
Engagement Objectives
Create the card concept
Evaluate card product options
Build the program business case and related P&Ls
Design and manage an RFP process to evaluate and select program partners
Maximize financial contributions and other alliance commitments
Launch the program within 18 months
Results
Established the currency for the card program and the integration with loyalty program currency
To maximize penetration of the card program, Advantage created a dual card strategy (private label and co-brand)
Created long term financial model and gained approval to proceed to RFP
Managed the RFP process and secured a card issuer offering exceptional experience in marketing retail card programs
Secured highly competitive financial and non-monetary program commitments
Ensured program launch within clients desired timeline
