Today there is a constant growth of competition in retail banking. The client is offered an increasing range of services: cashback, benefits, promotions, partner discounts, loans, installments, loyalty programs and more. People are more and more lost in the variations of the insane set of proposals and the decision is often taken impulsively, on a wave of emotions or under the influence of bright advertising.
The struggle for the client grows, flows from Bank offices and traditional media to new communication channels. Banking cards compete for a place in the purse, and mobile applications– for a leading position on the smartphone screen. The abundance of various marketing campaigns and special offers is disorienting the consumer who wants simplicity and hassle-free payments.
The client simply cannot physically cover the entire list of services offered to him. Over the past three years, he has changed the card products three times. First, I used a card with a magnetic stripe, then with a contact chip, today – with a contactless one. But do we need all the complex and incomprehensible services to the consumer? Often, he faces unfavorable conditions hidden under an asterisk and written in small print on a hard-to-reach page of the site, and loses confidence in the banking system completely.
The classic marketing technique for creating unique competitive advantages is detuning from competitors and creating a unique competitive advantage. Today, the main need of the Client is a feeling of comfort and ease of use. Providing convenience and 6sproblemnost, the Bank brings the retail business to a new level and becomes a leader in the perception of consumers.
In the area of contactless payments, the RFID keyfob AIRTAG® Pay
has become a product that creates unique competitive advantages. It differs from traditional payment devices in compact size (1/3 of a Bank card) and is always at hand. RFID-keychain allows you to integrate all kinds of accesses at the same time, contactless payments and digital services of the metropolis.
The product developer, ISBC Group, used modern technologies of consumer motivation. A subconscious connection is formed between tactile sensations, the convenience of using the key fob and a positive motivator in the form of buying a favorite thing, dinner in your favorite restaurant and other services. And every new touch to AIRTAG® Pay
, fixed on the keys to the apartment or car, reminds of the convenience and ease of use.
This type of keychain has already been purchased more than a million times in various projects for access and identification, which has already shown that the product has become popular.
Banking Technology Magazine, №8, 2018