Capital One 2008 Annual Report Download - page 12

We Have Built A Valuable Customer Franchise
With over 35 million customers, Capital One is one of the largest customer franchises in the United
States. And we have one of the nation’s most recognizable brands, with 99% total brand awareness. We
have invested in building our brand and delivering industry-leading television ads and marketing creative
for many years. Our brand investments are paying off. Our brand is a significant differentiator for us
against the other big banks, and well beyond the reach of the thousands of smaller banks in the country.
While we often feature credit cards in our signature national advertising, our brand is not limited to
national lending. The power of the Capital One brand extends directly to local banking. Brand awareness
and brand consideration in the New York market increased significantly when we re-branded North
Fork Bank branches as Capital One Bank, and bumped even higher when we introduced Capital One
Bank television advertising and other trade area marketing in the New York area.
Brand is not simply about television advertising. Ultimately, our brand is only as good as the underlying
reality when customers experience our products and service. Our customers expect great value and
convenience every time they transact with Capital One on any product, anytime, anywhere. Whether
a credit card or a savings account. Online or in a branch. We are committed to delivering a convenient
experience that meets our customers’ high expectations.
We invested in improving our customer infrastructure in 2008,
including our online servicing capabilities with the introduction
of mobile banking, transaction and fraud alerts, secure email,
and rewards improvements. We also integrated our national
lending products into our branches, enabling sales and
servicing of these products for our banking customers.
We continued to make enhancements to Capital One CardLab – a
new interactive, online marketplace for credit cards which puts
choice and control in the hands of our customers. CardLab empowers
our customers to select the combination of features most important
to them, including interest rates, annual fees, and rewards options.
CardLab also enables our customers to personalize their plastics by uploading an image or photo to
be displayed on the front of the credit card – whether a favorite family photo or a picture of a
beloved pet. CardLab is a hit with our customers. They love the exceptional value, transparency,
convenience, and control.
In 2008, we introduced innovative travel rewards with the new No Hassle Rewards Card, which
offers double miles and maximum flexibility since rewards can be redeemed for any travel-related
expenses, such as airlines, hotels, cruise lines, and rental cars. We did the same for our Small
Business customers, launching a Preferred No Hassle Miles Card that offers business owners double
rewards on travel and entertainment services.
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