By the mid-2000s, Visa had become synonymous with credit cards in consumers’ minds, with accompanying associations with the fast-spending, ‘have what you want’ credit economy of the 80s and 90s and the spectre of unmanageable debt.
The business needed to strengthen its position against its traditional enemies of cash and cheques, as well as claim ground in the burgeoning debit card and online payment markets, so they called The Value Engineers.
WHAT WE DID:
Our vision for Visa was to make the use of payment cards more permissible. We created a brand repositioning strategy that redefined VISA in consumers’ minds, shifting the emphasis from encouraging spend on credit towards helping people control their finances to their advantage.
Alongside this, we conducted a pan-European segmentation of consumers to inform a compelling growth strategy to engage member banks, and facilitated proposition creation against different audiences.
The most forward-looking and influential of these became the targets for the highly effective Visa Flow communications activity, shaped and guided by our quantitative and qualitative research.
The results of the repositioning have been impressive. Supported by new propositions such as Visa Contactless, Visa has seen the business gain a 14% share of all European PCE by 2012, with €1 in every €7 of consumer spending being on a Visa card, up from just €1 in every €18 in 2000.
GOT A SIMILAR CHALLENGE