Fontainebleau Miami Beach
4441 Collins Avenue
Miami Beach, FL 33140
Thursday, April 28, 2011
THE HYATT CARD: A RADICALLY SIMPLE APPROACH TO WINNING LOYALTY
When Hyatt Hotels and Resorts decided to launch its first co-branded credit card with Chase, the two heavy hitters didn't merely go to market researchers – they queried loyal Cubs fans. Such was the innovative approach of building their card, which offers immediate Hyatt Gold Passport Platinum status perks, no foreign transaction fees and two free nights at any Hyatt in the world with no blackout dates on when those awards can be used. After months of surveying customers, foreign exchange experts, financial planners and even loyal baseball fans, Hyatt and Chase knew one element was essential to their new card’s success: clarity. They call it Radically Simple Generosity.
And the card, launched September 2010, is delivering rather radical results. Within its first few months, the Hyatt Card became a hot topic everywhere from the frequent flyer site FlyerTalk to New York Times.com to Reuters and Forbes.TV.
In this panel, executives from Hyatt and Chase will answer questions from COLLOQUY’s Stephanie Cohen about the complexities of creating a new-concept card, and their decision to turn to an innovation house – not a market researcher – to blueprint it. Designed to enhance the existing Hyatt Gold Passport loyalty program, the Hyatt Card’s main objective is to improve loyalty.
- How extensive interviews revealed even popular rewards do not distinguish a program
- The benefits of using an innovation house and how their process guided the creation of the product
- Identifying the kinds of rewards that truly sets your card apart – it’s not always high-touch
- Why no foreign transaction fees beat a mobile concierge