Whether it’s a Costco Anywhere Visa® Card by Citi, an Amazon Prime Signature Rewards Visa Card, or a Visa Star Trek Credit Card (yes there is such a thing), chances are you have a co-branded credit card in your wallet.
The concept of a co-branded card is pretty simple. It’s a credit card that’s sponsored by two parties. Typically one of them is a financial institution or credit card issuer like Visa, Mastercard or Chase. The other can be just about anything, a store, an organization, or even just a run-of-the-mill business.
Co-branded Card Holders Get Discounts, Rewards, and Cashback.
With co-branded store credit cards, card holders might pay an annual fee and in return discounts on merchandise, rewards points, or cash back when they buy from the sponsoring business. But unlike something like a Macy’s credit card that you can only use when you buy things from their store, you can use co-branded cards at any retailer that takes cards from the bank or card network.
The FunnelDash AdCard by MasterCard is a co-branded card that gives cardholders -- primarily agencies who spend $10K a month or more on Facebook or Google ads -- a pretty impressive array of benefits, including:
Pretty rich rewards that can pay off big time if you’re dropping major coin -- $50K, $100K, $500k, $1M or more -- on ads. But you don’t have to stop there.
FunnelDash Co-Brand Credit Card Partners Can Cash in Even Bigger.
How big? Let me tell you about a conversation I recently had with Depesh Mandelia, one the world’s most prominent Facebook marketing experts helping businesses scale-up fast through savvy marketing execution in the online world.
Between his students and his partners, Depesh’s community easily runs $500M to $1B in ad spend. Yes you read that right -- a BILLION dollars. I talked about how our FunnelDash AdCard co-branded card program would allow him to monetize that spend by issuing a card in partnership with MasterCard that they would put on file with Facebook or Google. But that’s just the beginning of the opportunities. Others include:
A successful AdCard co-brand credit card partnership has to be
a win-win for you -- and your cardholders.
Of course, in order to get all that ad spend, people have to want to get and use the card. So why would somebody want a Depesh card versus the other cards out there? The answer is relevancy.
For instance the AMEX Black Card is this status symbol for a lot of marketers and entrepreneurs. They spend a half million dollars on cards and all you really get is a Tom Ford wallet, a Saks Fifth Avenue credit, and an Equinox gym membership, and then, your membership at the airport.
Somebody like Depesh could bring way more relevant benefits that will actually help them get better performance and get a better return on their investment in the advertising than an AMEX Black Card by offering rewards like giving away a course, Mastermind, or exclusive access to a Slack community. Other possibilities would be to give away creative or ad audits.With the right financial and rewards structure becoming a FunnelDash co-brand partner can be a big win-win for you and your card holders.