In 2022, consumer spending was on the rise. More in-person activities combined with higher comfort levels led to consumers everywhere opening their wallets more often. As a result, U.S. Bank saw this as the perfect time to launch their new Shopper Cash Rewards Card. This card was designed to give more back to shoppers with up to 6% cash back on their choice of two of the 24 largest retailers in the world, up to 3% cash back at wholesale clubs, gas stations, or home utilities, and 1.5% cash back on everything else, with an option to change where they’re rewarded each quarter. The main goal was to acquire new customers to U.S. Bank and have current customers add the Shopper Cash Rewards card to their personal portfolio.
A shopping rewards credit card isn't a new concept, as more than 6 in 10 U.S. adults have applied for at least one retail credit card, and about two-thirds have done so impulsively.* But instead of saving more, they end up with a wallet full of retailer-specific cards to keep track of and pay annual fees on — leading to more headaches than rewards. Instead of a stack of cards, we wanted customers to switch to one card, out of habit and loyalty, but mostly, rewards. Consumers needed to get the most out of where they shop, but no major issuer offered a competitive, retail-based rewards card.
This gave U.S. Bank an opportunity to combine all benefits into one Shopper Cash Rewards Card, which led to the "Your One Card For Everywhere" campaign – positioning and celebrating it as the one card you need for home improvement purchases, electronics, clothes and everything in between.
When ONE card meets all your shopping needs, it puts the joy back into spending and earning – so much joy in fact, you’ll feel like dancing. The campaign featured a video that brought to life both the functional aspects of the card, like the ability to earn at a variety of stores, and the emotional aspects, that stress-free, joy-filled feeling of earning easily. Campaign media focused on digital display, social media, DOOH and email.
Within the first 6 weeks of launch, U.S. Bank received 37,000+ new card applications, which more than quadrupled their new account forecast. The campaign saw over 300k impressions, with a 45% higher programmatic and social CTR than other bank products. Nearly half (46%) of new card accounts were customers new to U.S. Bank. Press features highlighting the launch of the new card positively spoke to its competitive earn rate and elevated the consumer choice element when selecting rewards.
