What Are the Three Things You Think Are Most Likely to Go Wrong in Year 2 for Chase Sapphire Reserve?

What are the three things you think are most likely to go wrong in Year 2 for Chase Sapphire Reserve?  

Based on the success of the Chase Sapphire Reserve card due to the initial 100,000 point rewards offer and savvy marketing focused on acquiring AFF/HNF millennials, sales profitability, market confusion both internally and externally, and customer retention are most likely to go wrong in Year 2.

1. Type of Acquired Customers
   The initial 100,000 point bonus offer was wildly successful for Chase Sapphire even allowing them to meet their sales goals in 2 weeks however, this also caused the company to spend more money acquiring millennials who typically pay off their credit card debt instead of maintaining revolving debt. Chase acquired many people who are not very profitable for their business because of their spending behaviour and are not likely to yield an ROI in Year 2.
2. Differentiation among Sub-brands
   Chase Sapphire sub-brands are not clearly differentiated, it is likely there will be some confusion internally about how to position Sapphire Preferred vs. Sapphire Reserve to acquire the most attractive target segment for Chase. This confusion could also have a significant impact on consumers who chose Chase Sapphire Reserve because the brand matched their lifestyle and they felt like they were interesting instead of braggy like Amex once they see consumers from Chase Sapphire Preferred getting the card. An exclusive group.
3. Customer Retention
   Customer retention is likely to be a problem because of competitors shifting their reward offers and those who only signed up for the 100,000 point offer. So Chase will need to come up with a way to keep engaging them so they will stay as active / habitual users of the card.

What tactics would you employ to course-correct those issues?

#1. Type of Acquired Customers

1. Create a mix of reward offers and fees that provide value to millennials and push them toward being transactors or attract transactors to the Chase Sapphire Reserve.
2. Targeted marketing campaigns to each segment based on spending psychographics
3. Sales promotions during renewal period and throughout the year (e.g. working with strategic partners from millennial-friendly brands) 

#2. Differentiation among Sub-brands

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