Various companies offer credit cards, so the competition in this niche is increasingly fierce. To have an attractive differential, they are investing in loyalty programs.
See how one of the largest companies today is focusing on loyalty. Nubank has invested heavily in its points program. In addition, it has worked hard to ensure exclusive benefits for its customers.
The Points Program
The name of the points program is Nubank Rewards, in which for every R$1 spent with the card, the customer receives 1 point that accumulates. Every 100 points is equivalent to R$1 that the customer will earn.
The points do not expire. They can be used to pay the bill or be spent in establishments such as supermarkets, pharmacies, restaurants, and other partners. If a bill has already been paid, the points remain as credits for the next bill.
All of this is done through the App. Thus, the use of the program becomes easy and simple for the customer. All points are visible to the customer, who schedules how they wish to use them.
Even though the program is offered to all customers, it is optional. Therefore, customers will only participate if they choose to, and a monthly or annual payment will be required.
In this way, Nubank ensures that the customers who participate in the program are those who will actually use the benefits. This prevents underutilization.
Nubank Marketing
The announcement of the points program is directed directly to the customers. Thus, the marketing for people who are not yet customers is done by referral, which ensures the quality of the customers.
All good marketing needs to understand and solve the customer's pain. Nubank did this very well! The company realized that the pain for people using credit cards is the lack of control over their finances, so it focused on strategies to return that control.
Additionally, it built an emotional bond between the credit card and the public, calling it “your little purple one.” Thus building a relationship of attachment and affection.