Wells Fargo: What’s the Point of Points?

Front

Normally my comments are limited to marketing communications shared directly with consumers via direct mail or email, but this in-bank pamphlet merits a potential Fail for Creative.

Inside

Wells Fargo uses its retail branches as an opportunity to cross-sell products and services. Every bank teller window has a brochure holder for a customer to read while transacting with the teller. The brochures appear to rotate about once a month. This month, the brochures are for the Wells Fargo Propel 365 American Express Card.

The two-page, two-panel brochure touts the card as one that “earns you accelerated rewards and so much more.” More what? The brochure describes the accrual rate of points but gives no indication of the value. The only suggestion is on the cover -- in the form of a lifestyle photo of someone driving an expensive convertible. Now, that would be a nice “so much more,” but the brochure doesn’t mention that as an option.

Back, Disclosures

Also, as I write this, the URL listed inside the brochure, wellsfargo.com/getpropel, does not appear to work. After a search through the website, I found this mention of redemption options such as gift cards, unique travel experiences and exclusive offers, and credit to qualifying Wells Fargo credit product.  

Credit card rewards benefits range from the practical to the aspirational. Wells Fargo’s credit card appears to have both -- if you can find information about them.

Lessons:

1. Marketing communications should communicate a benefit.  Points are not a benefit.  They are a vehicle of earnings toward a benefit.
2. Ensure all your website match the URLs listed in your marketing communications and are properly functioning.

Edit: As of this evening 5/28/14, the landing page wellsfargo.com/getpropel appears to be functional.

Five days is not enough

The Sitecore Symposium offers users of their platform the opportunity to learn about product features as well as share success stories and best practices. A recent email from them communicated that fact fairly well.

The email arrived on May 6 with a call to action to register for the symposium by May 11. The registration site was not live until May 6, giving only a five-day window for a business customer to commit to an $895 registration fee and travel plans four months ahead. This earns the email a Fail for Offer. Business customers need time to make arrangements, commit to dates, and obtain management approval.

In fact, the landing page includes a link to a boilerplate justification letter for registrants to send to their managers to get approval. A nice touch, because any employee going to the boss on his or her own and saying, “I’m going to Las Vegas for three days, staying at a high-end hotel on the strip, and paying 900 bucks to register” needs more than a bit of back-up.

As of May 7, the landing-page grid mentions the ‘Super Early Bird’ price with a deadline of May 11; however, the landing-page body copy (just above the Terms and Conditions) and the justification letter cite the deadline as May 18. That’s a Fail for Creative for having inconsistent deadlines.

Lessons:

1)      Give your business customers an adequate response window to your offer, especially if there is a substantial commitment in cost and time involved.

2)      Be consistent with your respond-by dates.