Hello, OptiMIST People!
Back at it again with KaMIST! Your weekly dose of insights into the latest marketing trends. In this week’s KaMIST we’ll dive into Allo Bank Indonesia’s clever marketing strategy.
Have you ever been to, or even heard of, a festival with the ticket price of Rp1.000,00? Is that even possible? That sounds like crap, doesn’t it?
Actually, something like that already happened recently! It is something that is possible and Allo Bank has succeeded in granting it. They promoted the festival, which they named Allo Bank Festival 2022, vigorously.
At the beginning of April 2022, the public was shocked by the presence of a new bank that offers easy transactions in the future. Starting with their rebranding that occurred in June 2021, Allo Bank keeps on promoting one of their facilities called “All in One Transaction” with various innovative digital product services that offer a solution, Seamless Customer Experience.
Several months later, Indonesia is in the middle of hustle and bustle regarding the drastic decrease in the spread of COVID-19, which has made many music festivals back to operate. During that moment, Allo Bank cleverly found an opportunity to build their brand by also carrying out a music festival that will be held on 20–22 May 2022. Allo Bank Festival has become a promotional event for the company to be known by a wider community, especially youngsters like Gen Zs. This can be seen from the event they hold to promote Allo Bank. They invited artists from within the country and even from abroad, girl and boy bands from South Korea as guest stars of the music festival.
At Allo Bank’s grand launching event, they sold tickets starting from Rp1.000,00 to Rp100.000,00 for K-Pop bands performance such as Red Velvet and NCT Dream. K-Popers’ dream of seeing their idols at a meager price has come true through Allo Bank Music Festival 2022.
Though it may seem trivial, If we pay more attention, Allo Bank has ulterior motives in holding this music festival — to promote their application features. To buy this ticket, viewers must have an Allo Bank account. This will undoubtedly increase the number of Allo Bank customers significantly. In addition, to enjoy their special shows, which cost Rp100.000,00, viewers must upgrade their account to Allo Prime, which offers savings for unlimited transactions, attractive interest, and free admin fees. That way, not just to create an account, with this festival, many people would be interested in using the Allo Bank features to the fullest.
With the Allo Bank Festival, the company does not need to try very hard to invite customers to use their features like competitor companies, where they offer account opening through sales promoters. Not to mention there are people who feel disturbed by this method. The Allo Bank Festival 2022 certainly attracts many customers who take the initiative to use the Allo Bank features to the fullest. Of course, many of these bank customers comply with the Allo Bank Festival 2022 target market because young people today like instant and practical things. These facilities are available on Allo Bank.
Furthermore, Allo Bank uses a transactional marketing strategy. They do not force customers to open accounts at Allo Bank. They take advantage of integrating their group ecosystem, namely CT Corp. Allo Bank customers benefit, as incentives can be felt across their entire ecosystem. The incentive, for example, is in the form of a 50% discount when shopping at Transmart. Thus, this marketing strategy can maintain consumer loyalty in the long term.
So, how was it? Did you guys win the Allo Bank Festival 2022 ticket war?
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