Tuesday, April 14, 2009

The Visa Black Card: Exclusivity for the Masses

"And the black card don't got no max." - Jay Z

Years ago, American Express launched the Centurion Card The prestigious card carries a $2500 annual fee and is awarded to American Express users who spend $250,000 annually. The card essentially has "got no max."

New Bentley? No Problem.

New Yacht? No Problem.

Invitation for your cousin to attend a sleep over at Hannah Montana's home? Well, that may be a problem.

American Express' Centurion Card paved the way for the recent launch of Visa's Black Card. Similar to the Centurion Card, Visa's Black Card is awarded to the top percentage of Visa Card users. However Visa Black Card users only pay a $500 annual fee and there is no exorbitant annual spending requirement.

A Visa advertisement claims that the card is "the world's most prestigious and versatile card." It may be versatile. However, with Visa's goal to have 3 million users carry the card, is the Black really the most prestigious?

In today's turbulent economy, rebranding extremely exclusive services is becoming the new mantra. Massclusivity or the offering or exclusivity to the masses, allows brands to reach a larger audience with the mystic of being perceived as being exclusive.

As your brand or company is looking to remain steady throughout the recession, consider repositioning a product or service with more exclusivity. It may seem like a step backward, but the ability to appeal to a consumer's desires, not only needs, may be the real answer forward.

1 comment:

Anonymous said...

Visa Black exlusivity is based on 300,000 cards in America - not 3 million. So, while it is not "the" most exclusive, it would still be in the 99th percentile.