Nagad is using innovative digital marketing tools to bring unbanked users in the peripheries within the banking net
Nagad – the fastest-growing mobile financial service provider in Bangladesh ushered in a new era, one which has been dubbed by industry observers as the second age for the mobile money industry. This new innovation has opened the door for anyone to easily activate a wallet account and enter the digital world where they are free to pursue their whims through the convenience of their smart devices. Nagad sets itself apart by ensuring meticulous customer service. Through its facilities, the company contributes to the financial inclusivity and socio-economic development of the country.
As the country’s leading MFS service provider, Nagad prioritizes digital marketing/marketing to reach out to unbanked users. They are able to bring those living on the peripheries into the banking net very easily by efficiently employing their existing resources. With significant growth in mobile internet users, urban poor and remote areas in the country are now enjoying different social media platforms such as YouTube and Tiktok and apps like IMO. Nagad utilizes the means of digital marketing to reach out to them.
THE AGE OF DIGITAL TRANSFORMATION
Grameenphone is the recent telco to partner with Nagad along with Robi Axiata and Teletalk. These partnerships are ideal examples of brand convergence during this age of digital transformation. This helps Nagad to deliver the super app experience. Users can recharge to any number from their Nagad wallet which in time leads customers to a more advanced user experience of Nagad. In coming days, Nagad has set their sights on collaborating more with telecom operators beyond mobile recharge facilities.
THE DIGITAL MARKETING TRENDS SHAPING THE MFS SECTOR
The MFS sector has readily adopted digital marketing tools to better streamline their services. The use of AdTech such as BOT, data analysis and segmentation tools such as SDK attribution are increasing. Utilization of CLM practices and segmented campaigns delivered through digital channels are also on the rise. To engage customers with newer initiatives such as social media influencers and affiliate marketing are becoming more and more popular everyday.
A CAMPAIGN WITH A CONSCIENCE
Nagad launched a campaign titled ‘Bibeker Aina’ to educate people about various aspects of the mobile money service. Interestingly ‘Bibeker Ayna’ was not a stand-alone BTL campaign/activation. It was inspired by an umbrella campaign called ‘Acquisition’ which was inspired by a basic human behavior called ‘self-questioning’ in a form of soliloquy. In the ad we see the protagonist being challenged by himself on whether he is using the right brand or to gauge if he is aware that Nagad is offering the country’s best possible services and features. This particular style of storytelling was creative and impactful because the brand is not questioning the consumer directly rather the consumer was questioned by his own conscience. And we all know that human conscience is never irrational.
Hence, ‘Bibeker Ayna’- a moving three wheeler cart was designed with a mirror and an interactive digital touch screen where a person answered a few questions on his MFS experience/usage pattern. After completing the answers, participants have their answers compared to other MFS service providers and learn that Nagad offers the best services/features in the industry. While receiving this eye opening information, the person looks at his reflection in the mirror with ‘ask yourself’ written on the top.
The experience is meant to give the participant a clear idea that using Nagad for his own financial benefit is the sensible thing to do. Alongside, the Brand Promoters were there to guide them through the Nagad account opening process and their first transaction leading to an excellent brand experience. Therefore, the takeaways from this campaign were 1. Questioned by their consciences 2. Knowing the best benefits Nagad offers 3. Acquisition (Account Opening) 4. Trial of the product and service. It also enabled a lot of people coming together, having fun, trying Nagad and spreading the word on how they were surprised and entertained
TAILORING AN IMPACTFUL MARKETING MESSAGE
Last February, Nagad successfully launched one of the ground breaking campaigns in the recent times. The central expectation was to generate high degree of interest and trial. This campaign was inspired by a basic human behavior called ‘self-questioning’ in the form of a soliloquy. Now it is broadly identified by the masses as “Na te Nagad e ashlam”. It is definitely unique in approach and stylization. The campaign had three strong elements 1. Direct communication focusing on the brand’s benefits/reason to believe 2. Fresh humor with competitive attitude 3. Diverse characterization with 6 TV commercials. Backed by BTL and digital marketing activities, the campaign covered the basic norms of the modern day 360 degree marketing communication ideologies. The campaigned ran for 3 months and the result was 5-6 times higher than the forecast.
There are some challenges in structuring a successful message and those include: 1. Explaining the diverse technological aspects of the new form of transaction/financial service. 2. Due to the digital/device dependency, a lot of contents/ messages need to be customized accordingly. 3. A major part of the population do not use smart devices. 4. Need to fabricate the brand’s tone-of-voice due to a segmented diverse audience. 5. Keeping pace with the fastest evolving market behavior, purchase habit, and other usage.
INNOVATIVELY KEEPING USERS INFORMED
Mobile financial services have already updated users’ lifestyles over digital platforms. It has also the opportunity to pinpoint consumers and can run target-based campaigns, which can be a fruitful way to promote the MFS products and services. Keeping that in mind they should also prepare the marketing strategy where digital platforms can be a tool being employed.
Digital marketing channels are now playing a major role in informing consumers about different services, new innovations, and benefits of this kind of payment procedure. It is imperative to emphasize upon digital campaigns now and especially for the future.
INNOVATING INTO THE FUTURE
As one of the leading tech companies in Bangladesh, Nagad pioneered bringing digital innovations that made user’s lives easy. They introduced ‘Digital Know Your Customer’ in the country, which was adapted by other service providers later on. Nagad app is the most user friendly and the fastest MFS app. They use the latest technology available across the world to bring amazing innovations to users. Nagad’s numerous innovations allowed them to digitally enhance the lives of Bangladeshi consumers. Nagad will continue to innovate. They vow to bring groundbreaking features and brand new experiences to their users in the coming days. Nagad will go on to be one of the leading tech brands of Bangladesh.