It is well documented that, from the point of view of customer behavior, Generation Y appreciates the reports.The ability to expand relationships with a logo through reporting is a key facet of attracting experiential marketing systems to young customers. JPMorgan Chase, a longtime sponsor of the US Open tennis tournament, has been providing opportunities for experience around the tournament in recent years. However, the COVID-19 and social estrangement needs have led the company’s credit card unit to provide virtual reports to enthusiasts along with the occasion in 2020..
Special virtual occasions and reports to the general public on the Chase US Open’s online page include a virtual concert presented through Serena Williams with music by Khalid, Chloe x Halle and Kane Brown, and a daily “warm-up show” with a preview of the day Matches.Another offer is a raffle that offers the possibility of winning a USO/Chase hat or a bottle of water, as well as gifts from 3 small Chase companies: Nikki’s Popcorn, The Good Batch and Greyston Bakery.On the site, Chase also promotes its charitable partnership with the United States Tennis Association, called the Return the Serve program.This year, the program will provide a grant to 12 chapters of the National Tennis and Youth Learning Network for socially remote tennis lessons, good fortune systems in schools activities for youth in under-neglected communities in the United States.
It also offers exclusive virtual lounges for Chase cardholders, adding a monetary fitness “Chase Chat” with Serena Williams and former NBA player Jay Williams, as well as 30 virtual events featuring tennis pros and legends.The exhibition will also feature a number of content with Andy Roddick and Brooklyn Decker, on-form advances with Tracy Austin and Lindsay Vonn, and virtual cooking demonstrations with celebrity chefs such as Carla Hall, Josh Capon and Gregory Gourdet.
Will Chase’s virtual reports be an effective promotion for the company?There are 4 main reasons why the program is a timely idea:
1) The experiential side of the promotion is likely to generate the greatest engagement and enthusiasm among key consumers and succeed in a wide audience.
As the advertising and promotion manuals point out, one of the main benefits of a well-targeted sponsorship is the ability to create the best degrees of interaction around an occasion.As the main sporting occasion, the US Open is related to enthusiasm and enthusiasm. Wonderful Interest The virtual facet of the Chase experience also contributes to the ability to engage consumers through a medium that is neither temporal nor spatial. As a result, Chase is likely to gain many cardholders and even some members. of the network. general public to spend a lot of time on the site watching videos, participating in chats when entering the contest or learning more about their products in general.
Frank Nakano, head of sports marketing and entertainment at JPMorgan Chase, points out that having interaction is a key detail of the purpose of those virtual experiences, noting that “our purpose is to continue interacting with consumers, consumers and enthusiasts at a time when they can’t have interaction in person.”It also suggests that in addition to a deep interaction with consumers, the program may attract new buyers, saying, “While we try to offer consumers and consumers exclusive virtual experiences, we hope to attract new consumers who express a hobby for the Open and see the opportunities we offer to make the most of the experience.”
2) The chance of succeeding in more viewers.
Chase’s Nakano says the company will use various mechanisms to get consumers to the site.”We direct consumers, consumers and enthusiasts to chase.com/usopen our retained assets, such as social media, ATM screens and virtual signage at branches,” he says., “We also rely on the success of US Open social and virtual platforms to increase awareness and commitment to our virtual experiences.To complete, we have partnerships with Conde Nast and ESPN to provide content and drive users to our virtual center.
With this kind of push, chances are that this crusade will succeed in great success compared to what you would have imagined during the live occasion itself.In fact, the ability to succeed in a wider audience through a virtual occasion can make virtual delight more elaborate on more desirable sites even after the disappearance of COVID.
Nakano notes that Chase is well aware of the merit of achieving more enthusiasts and said: “Given the inability of enthusiasts to attend and the social estrangement restrictions in place, we are very pleased that our activation helps keep consumers, consumers and enthusiasts engaged in the Open….not to participate in person. For example, last week, more than 700 visitors participated in a mid-afternoon preview of the US Open with tournament director Stacey Allaster.»
3) The ability to offer “exclusives” that are important to cardholders
High-end credit cards have long been used to offer more benefits/benefits to consumers, which makes sense in a market where it is difficult to differentiate, except through the interest rate or credit card limit.However, it was noted that many cardholders do not get much price from some of the “benefits” presented through credit cards (e.g. travel insurance, extended warranties, concierge services, early access to concert tickets).Celebrities are likely to make some cardholders feel special whenever Chase offers an exclusive offer.In addition, customers who don’t already have a card would possibly be influenced by exposure to exclusive benefits.
4) “Appropriate” sponsorship of a cause can lead to perceptions of corporate citizenship
An ancient article in the Journal of Advertising through Nora Rifon, Marina Choi, Carrie Trimble and Hairong Li found that when the perceived compatibility of a sponsorship with a similar cause is higher, consumers are more likely to think that the sponsor’s reason is altruistic, resulting in greater sponsor credibility and more favorable attitudes toward the sponsor.As a prestigious credit card, Chase has a higher point of compatibility with the US Open as an occasion and the USTA as a spouse in a charitable effort that encourages participation in safe tennis for children.Disadvantaged. Especially since some consumers have traditionally been skeptical about the motivations of monetary facilities companies, the ability to definitively provide a meaningful charitable initiative in a position involving consumers is likely to be a big advantage for Chase.
The company’s highlights in 3 of its small business customers are also timely.Some consumers are sensitive to the difficulties these companies face as a result of COVID and this reminder that the company supports small businesses is likely to be welcome.
Conclusion
There are several smart reasons why Chase’s virtual site is more likely to succeed: the more the company can focus on exclusive occasions where cardholders actually provide exclusive value, the more the program will resonate.that the occasions are not so wonderful that “exclusivity” is lost.In addition, Chase is asked to stick to the general public and what really arouses interest in the portions of exclusive and general access to the site.In any case, investing in virtual site acceleration makes a lot of sense because such systems will be valuable in expanding the “event” audience even after the removal of COVID-like restrictions.
Charles R.” Ray” Taylor is a marketing professor John A.Murphy at the Villanova School of Business and principal investigator at the Center for Marketing and
Charles R. “Ray” Taylor is the John A. Murphy Professor of Marketing at the Villanova School of Business and a Principal Investigator for the Center for Marketing and Consumer Insights. Most recently, he is editor-in-chief of the International Journal of Advertising. is past president to the president of the American Academy of Advertising and received the Ivan L. Preston Award for Outstanding Contribution to Advertising Studies at the American Academy of Advertising and the Flemming Hansen Award for Outstanding Contribution to Advertising at the Advertising Academy. Professor Taylor is an active representative and conducts regular interviews with major television networks and newspapers.