Annual Independent Research on Top Brands Confirms Emotional
Engagement is the Dominant Driver of Purchase Decisions and Brand Loyalty
RIVERWOODS, Ill.--(BUSINESS WIRE)--Apr. 15, 2013--
Discover card leads the credit card industry in customer brand loyalty
for the 17th consecutive year, according to an annual study
by the independent research firm Brand Keys, Inc.
The 2013 Brand Keys Customer Loyalty Engagement Index® surveyed 39,000
consumers, 18 to 65 years of age, and examined 400 brands in 54
categories to determine the degrees of loyalty that consumers exhibited
toward their favorite brands.
“When we first introduced our credit card in 1986, we committed
ourselves to meeting the needs of our cardmembers with the best possible
customer service. We still stand by that commitment today, resulting in
our recognition for customer loyalty by Brand Keys,” said Carlos
Minetti, president of consumer banking and operations for Discover. “We
are focused on being the leading direct bank and payments partner which
is paving the way for great opportunities for our company.”
“This honor proves that prioritizing our customers’ needs and giving
them what they deserve is working. They connect with the Discover brand
in a way that is unique and engaging which allows us to strengthen our
relationships and provide distinctive product features consumers want,”
said Harit Talwar, president of U.S. cards for Discover. “We will
continue to focus on making sure we exceed our customers’ expectations
with each interaction.”
The Brand Keys research found that emotional engagement is the dominant
driver of purchase decisions and brand loyalty. Increasing amounts of
advertisements via internet, price promotions and discounting have
triggered a tipping point in the brand world where consumers have began
to use their emotional connection with a brand as a key factor in their
buying decisions.
"Discover has managed to create the highest levels of loyalty by
leveraging real, emotional category values," noted Robert Passikoff,
President of Brand Keys, Inc. "Consumers are actively looking to engage
with brands that understand what they expect – and then go ahead and
deliver on those expectations. It doesn't matter if the category is
thought to be "rational," as long as a brand can make human and
emotional connections with their customers that are both differentiating
and believable. That's what resonates for them and that's what creates
loyalty. Discover has managed to do that year-after-year, and, again, we
congratulate them."
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company
operates the Discover card, America's cash rewards pioneer, and offers
home loans, private student loans, personal loans, checking and savings
accounts, certificates of deposit and money market accounts through its
direct banking business. Its payment businesses consist of Discover
Network, with millions of merchant and cash access locations; PULSE, one
of the nation's leading ATM/debit networks; and Diners Club
International, a global payments network with acceptance in more than
185 countries and territories. For more information, visit www.discoverfinancial.com.
Source: Discover Financial Services
Discover
Susan J. Diaz de Leon
224-405-5344
susandiazdeleon@discover.com