Skin in the Game

Today at a Glance:

• It's easier to convert attention into dollars; than dollars into attention
• Influencers/celebrities are the new VCs
• Capital One knows Taylor Swift's impact "All Too Well"
• Citi doubles down on Travel
• Today's Winning Roster- Standout Brands: Acorns, Capital One, American Express, Citi

My biggest takeaway from 2023 is that it is easier to monetize attention than pay dollars to get attention. Once you internalize this, your approach to marketing and business will likely change drastically. Celebrity influencers have been gaining prominence for almost a decade now, and while this "new" trend was exploratory and nobody had proven success with it, now there are few doubters of its potential. And yet, we are just starting to see some executions of this new marketing using influencers who have skin in the game. The best example to prove this point is Messi who walked away from $1B over 2 years to come to Miami instead and accepted:

- Total guaranteed compensation: $20 million per year

- Signing bonus: Included in the $60 million per year

-?Equity stake in Inter Miami

- Profit-sharing agreement: Includes?a cut of revenue from new subscribers to Apple TV's MLS Season Pass

He felt having skin in the game was better for him than a one-time pay-off.?This deal is estimated to earn Messi $1.6 billion by the end of 2025.

I walk us down this path for 3 reasons:

1.?The Mighty Oak Debit Card:?This new debit card was launched last week and is the perfect?example of this Messi-like execution in our industry. Acorns has tapped into the rock's celebrity and being more than "just a paid endorser" he's got skin in the game since he owns a portion of Acorns.

As part of the launch, The Rock?visited the FAO Schwarz toy store with Jimmy Fallon in New York City and paid for everyone’s holiday gifts on his Acorns debit card. The whole visit was captured by the talk show’s team and aired as part of the show’s programming and interview with Johnson.

With the FAO Schwarz visit, Acorns is also tapping into the holiday spirit and has put Johnson into the field, so that he can be widely and actively seen using the Mighty Oak card.

The campaign shows that while financial wellness is a serious business, it doesn't mean that marketing financial products has to be a boring and somber affair. With new savings accounts launching left, right, and center, Acorns had to find a way to stand head and shoulders above everyone else.

I love?this?ad more than that?Jimmy Fallon?one.

"Dwayne Johnson is an investor in Acorns Grow Incorporated, is a director of its affiliate Acorns Labs, LLC, is an Acorns customer, and together with his creative agency receives substantial compensation from Acorns and its affiliates to promote Acorns and therefore has a conflict of interest that can be expected to bias his views."

You can view all of Acorns' marketing on Comperemedia Omni?here.

2. Taylor Swift & Capital One:?While Taylor Swift's engagement with Capital One has been a lot more traditional, I think it could evolve into something even bigger if a stake/ownership of sorts was on the table.

We all know enough about the impact Taylor Swift's Eras tour has had. From causing earthquakes (swift quake) to becoming the highest-grossing concert tour ever (over $1B). And projections suggest close to $5 billion in consumer spending as a result of this tour. Each city that gets the concert, gets a bigger boost than the Super Bowl for local businesses and their GDP.?The presale for the "Eras" tour was exclusively for Cap One cardholders. Cap One hasn't disclosed anything that I know of, but CardRatings estimated that over 100,000 people had applied for a Capital One card in the week following the announcement of the Taylor Swift Eras presale.

In addition, a survey by NerdWallet found that 16% of respondents said they were considering opening a Capital One card to get access to the Taylor Swift Eras presale.?Based on this information, it is reasonable to estimate that?at least tens of thousands of Capital One cards were opened?to avail of the Taylor Swift Eras presale.

3.?Nicole Bond's latest report:?Bolstering Credit Card Perks with Concert Incentives

We've recently done a ton of work on Sports Marketing and Sponsorship, you can view this work?here.

Honorable Mention: American Express

To share my 13-year-old's world,?I've cultivated a growing interest in F1, and I am truly impressed how Amex has picked this sport after a decade of no new sports sponsorships knowing that Millennials and Gen Z are increasingly following F1.

Saturday's F1 in Las Vegas is estimated to have generated $1.3 billion as an event, making it the most lucrative sporting event in Las Vegas history. And Amex was front and center with the recent partnership with an Amex Lounge (a 3-story experience for Amex cardholders and up to 3 guests) and Amex Radios for folks to follow the race along with some Amex light-up cups.

Taking a hard left and switching to our Financial Proiles?report in which we focus on Direct Mail Acquisitions cut by FICO scores.

Emily Pardo has done a great job with this report monitoring activity for Q3 2023:

1. Chase ramped up the volume of the Disney Premier Visa

2. In a sea of cashback cards, Amex's focus on points helps their offers stand out. Also, the new experience of logging in and being pre-approved is exceptional.

(Let me know if you're interested, we're doing a ton of mystery shopping to help you get a better understanding of the competitive journey).

And lastly, Citi is doubling down on Travel. The now-assumed-usual 5% earned for using Citi Travel is being?accompanied by a lavish $100 off each $500 hotel stay. This bonus is being sent to Citi ThankYou Preferred, Rewards+, DoubleCash, and Custom Cash customers.

Wishing you a Thanksgiving full of warmth, laughter, and all the happiness in the world. Enjoy the feast and the moments shared with those who matter most! Happy Thanksgiving!

As ever - Anuj