Discover Financial Services | Source: Business Wire | April 25, 2011 – Discover card leads the credit card industry in customer brand loyalty for the 15th consecutive year, according to an annual study by the independent research firm Brand Keys, Inc.
The 2011 Brand Keys Customer Loyalty Engagement Index(SM) examined 528 brands in 79 categories to determine the degrees of loyalty that consumers exhibit toward their favorite brands.
“Receiving independent recognition of our leading customer service is a great honor,” said Carlos Minetti, president of consumer banking and operations for Discover. “Our card members remain loyal to Discover because we commit ourselves every day to making sure they get their needs met on their first call.” “Discover focuses on continually delivering new ways for our customers to be rewarded, giving them added value on their purchases and making it easier to redeem rewards in convenient ways,” said Harit Talwar, president of U.S. cards for Discover. “We listen to our card members and deliver a great customer experience in all interactions and through integrated, relevant offers.” The most recent Brand Keys research found that the attributes of “experience” and “authentic innovation” in products and services are exerting the strongest impact on customer decision-making, category expectations and brand engagement.
“Brand value has increasingly been defined not through the narrow lens of price, but in terms of the total experience that consumers have when they interact w given brand. This year’s results demonstrate that concept has truly taken hold, with virtually every category (93%) showing its greatest increase in expectations in the purchase drivers centered on attributes that most strongly impact the customers’ overall experience,” said Robert Passikoff, Brand Keys founder and president.
“Consumers are looking for their favorite brands to make a real difference — to delight them — in their lives. Consumers know the brands, know what they do, and know what they’re willing to pay for them,” said Passikoff. “They’re looking for delight and the category purchase drivers are very clear in this regard.”
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 personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. 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.