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(Youthlab Indo) Indonesian youth marketing trends for banks
 

(Youthlab Indo) Indonesian youth marketing trends for banks

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In a society so custom with cash how bank will prevail doing marketing for youth. A youth marketing insight for Indonesian Youth market ...

In a society so custom with cash how bank will prevail doing marketing for youth. A youth marketing insight for Indonesian Youth market
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    (Youthlab Indo) Indonesian youth marketing trends for banks (Youthlab Indo) Indonesian youth marketing trends for banks Presentation Transcript

    • http://ruangpamerima.blogspot.com/2009/07/year-books-parade.htmlToward Cashless youth?:Indonesian Youth Marketing Trends for Banks Insights report by Youth Laboratory Indonesiawww.enterthelab.com
    • http://www.flickr.com/photos/tiganolapan/2533794401/sizes/l/in/photostream/ Bank sees youth as the new target of market Giant banks; BCA, Mandiri, Permata, BNI and BRI are competitively doing the marketing program; from event sponsoring to customized card designThey called all those kind of strategies: the “youth” marketing Page 1
    • How is it working to youth? What youth really need? And did they aware of all those strategies? http://www.flickr.com/photos/tiganolapan/2534598760/
    • BCA & “Tahapan Xpresi”BCA launches the “Tahapan Xpresi” program to attract youth segment. Youth could use their own photo as their card display. A “Jones Soda”ism marketing attempt to trigger youth sense of ‘feeling important’ and ‘Exist’. But then again, to be a ‘Media’ of expression Brands need to be consistent to put their youth customer upfront. In the end these cards are put in a wallet, while Jones Soda bottle are displayed in a glass fridge to be seen Page 2
    • http://snowboardr.deviantart.com/art/Jones-Soda-Wallpaper-78268864There’s a big difference between trying to be a “Youthful” media and Being actually a Youth Media
    • Similar concept of trying to be youthful are also used by other Bank brands. Page 3
    • Danamon & MU CardDanamon had special edition of ManchesterUnited (MU) Card Design. They targeted theloyal fans of MU which is huge in Indonesia.The brand try to stimulate youth passion tocommunity and identity as football fans.Do the young people get the message?Does card picture really matters, orIs it a problem of mindset in a cashoriented society? Page 4
    • http://fauzianurawaliah.blogspot.com/2012/04/jersey.html This the fact: True Fans will only be Friends with other true Fans
    • BNI & Java JazzBNI is one of the main sponsor in Java Jazz, thebiggest music event in Jakarta.They offer the“Buy 1 get 2” Java Jazz ticket using the BNICredit Card. But have brands ever questionwhy youth came to an event, came home anddoesn’t even remember what the big bannersaid during the event Page 5
    • Photo of #kekeun event in BandungIt is the intimate interaction that are storedIn youths mind, not the cold and rigid symbol of Brands http://www.keukenbdg.com/blog/
    • “Bank is colder than our Math Teacher”http://www.flickr.com/photos/68062868@N02/6351996298/sizes/l/in/photostream/
    • Bank & [Youth] EventMarketing Strategy SponsorshipWhen it comes to youth marketing, Indonesian Banks mostly use these 4 elements marketing strategy: Facility & Bank & Customized Access Card Design Youth Promo & Discount Page 6
    • Most Youth, SES: AB, do the bank saving. Some of them are aware that Youth on Bank they should save for their future, but mostly youth save only to short termconsideration such as for daily expenses Saving (hangout, buy prepaid voucher, etc) Simplicity Daily (not too Expenses much cash) Future Security Consideration Consideration Bank Saving Page 9
    • How Is The Interaction Between Bank & Youth?
    • • In her teenage year, she already has a bank account. Her reason to do saving is that she can use it for Ruth, 17 F emergency needed. It’s like an anticipation act for something that might be happened in her future. • She decided to made an account in BRI (Bank Rakyat Indonesia) because there’s a BRI’s ATM near her house. • Surprisingly, another reason was because the bank offered a superman edition card. She was also happy that she got a superman notes as a bonus when opening the account. •Youth on Bank Preferences From her routine saving (200K-300K IDR each month), she usually use it to buy a trendy new clothes. • She haven’t had a credit card yet and not interested to have one recently. • Java jazz is one of the event that she knows which is sponsored by a bank company. And based on her observation, Mandiri and BCA is the most often bank company in sponsoring events. Insight Report YouthLab Indonesia Page 12
    • Lunardi, 21 M • He has 2 accounts in one bank, one of it was a committee’s account where he was the president of the committee. He haven’t decided to close the account yet. • Actually he’s not really concern in savings, during his college life, he got his monthly pocket money from his parents which he used it for his daily needs. So his savings come from the residue of his pocket money. •Youth on Bank Preferences He has a side card credit card. He use the promotions which the credit card offers, especially the culinary offerings. • He never recommend the credit card that he use to his friends, even his friends didn’t know that he got one, because he rarely use it. • The sponsors of an event is not a consideration for him in deciding to come or not to the event, but somehow he sees that BRI often endorse an event in Jakarta. Insight Report YouthLab Indonesia Page 14
    • • She has 3 bank accounts in 2 different bank. One of it is used for her college Astri, 22 F payment(some institution doing partnership with some banks). She’s planning to close the non-active accounts soon. • In her opinion, saving money in banks is for her safety. She don’t need to bring lots of cash everywhere because when the money is needed, she can simply raise the nearest ATM to get the cash. • Recently, she is working on her thesis whileYouth on Bank Preferences doing freelance jobs sometimes. Besides from her own earnings, her saving comes from her dad and brother. • She don’t have any credit card yet, but she believed by using cc she will learn to control her expenses in life. So as soon as she have a steady revenue from her salary, she will apply for a credit card. • She found that credit cards also helps the owner in purchasing things abroad because Insight Report of the visa, etc. YouthLab Indonesia Page 13
    • Riyani, 26 F • Riyani works in a tax consultant office • She has 12 credit cards in her wallet from various bank • She use each credit card wisely, use it for each card’s discount / promo. Ex: she uses BCA credit card to “buy 1 getYouth on Bank Preferences 1” promo on 21 Cineplex. • Things she purchase with credit card: online hotel reservation, and air-ticket booking, due to her hobby as a traveler. Insight Report YouthLab Indonesia Page 15
    • The Insights General Insight – Younger Youth Below Above Some of first- • Younger youth concern about the card design. Some of 20’s Haven’t considered 20’s jobber are having 1 characters that been suggested are elmo, cookie monster about having credit or 2 credit cards. (sesame street), and the simpsons. BNI also gave a nice card Usage: online interesting strategy by using singers photographs in their purchase, discount prepaid cards (Java Jazz edition). • College year students are more concern in the use of the savings/credit cards itself. They consider about the access Source of income: Source of income: of the ATM, the promotions that they offers, etc. parents job salary, side job • Those who don’t have salary yet rarely have a credit card because. Some of them have a side card from their parent’s credit card, it means their parents are those who are taking charge of their side cards. Starting to consider Short-term purpose about long-term of saving purpose of saving General Insight – Adult Youth • As for the adult youth, above 20’s, they preference on bank mostly are BCA, Mandiri and BNI. Card Adoption • Some of them, having an extra account for their job’s salary transferred by their offices. Parents School • they don’t take door prize or promos seriously, only for granted. Basic pull factor is the bank credibility • Some of them aware on the events sponsored by Bank, but the impact is not significantly big to them.YouthLab Indonesia Page 20
    • Research Report By Youth Laboratory Indonesia Youthlab is the first factory and repository of Indonesian youth insight, compromised of multi-talented youths of various background, the research and consulting company helps corporations and organizations create precious connection with the fickle yet precious market segment. Through etnographic research, online tracking, creative focus group discussion, and other means, we help you create a dialogue with the youths of Indonesia in the most efficient manner. We Here to Make that happen to you Find more about Indonesian Youth trends, data, & insights: www.enterthelab.com Contact us Tara.talita@gmail.com faisal_sii@yahoo.com