How Logica® helped a client measure the impact of a branded credit card

Product feature optimization is a market research approach that helps brands identify the optimal combination of product or service features to maximize sales, market share, and product success. Logica works closely with financial, technology and growing organizations to gain the insights and intelligence they need to drive their go-to-market (GTM) strategy and launch successful products.

Case Study: Product Feature Optimization Study

The credit card space is competitive, and to capture attention and gain crucial customer loyalty , the features of the credit card must resonate with target audiences. Branded credit cards with appealing rewards are an established way of deepening customer engagement and loyalty. Logica worked with a major credit card company to develop a co-branded card—with a compelling loyalty program to increase customer usage and engagement—using a product feature optimization study.

Case Study: Product Feature Optimization Study

As consumers, many of our attitudes towards the products we use every day are shaped by unconscious visual triggers. Design matters. When a major credit card company wanted to introduce a redesign of its global card, they recognized the importance of consumer insights to ensure engagement with the new look. The company turned to Logica® to explore consumers’ connections to the new design options for the credit card through a custom, multi-layered concept testing study.

Credit Card Feature Optimization Solution

Logica® conducted a product feature design test of multiple card types and used TURF (Total Unduplicated Reach and Frequency) analysis—a statistical method employed to gauge market potential and develop effective communication and placement strategies. This was used to validate the structure of the proposed credit card reward program and to measure the uptake of each credit card based on the reward program. By using this approach to understand the consumer behavior, the best and most appealing features of the branding and rewards program were able to be implemented.

Impact of Product Feature Optimization Research

As a result of the product feature optimization study for the credit card features, Logica’s client partner was able to not only understand the best product features, but also measure the financial impact of the card offering. Using insights from the study, they were able to determine a go or no-go decision, ultimately saving time, resources, and hundreds of thousands of investment dollars prior to in-market testing.

Making Product Optimization Research Work For You

Logica loves to collaborate with financial, technology, and other growing organizations to unlock the perfect blend of product and service features. To discover how product feature optimization can revolutionize your business strategy, and save time and money, reach out to us!