Kasikorn Bank in Thailand has recently launched a series of Angry Birds ATM cards, in order to target the younger generation of customers. ...
Kasikorn Bank in Thailand has recently launched a series of Angry Birds ATM cards, in order to target the younger generation of customers. This is an excellent idea.
By Karn G. Bulsuk
Kasikorn Bank is one of Thailand's more creative and modern banks. In addition to moving past the Thai bank legacy of terrible service, inconvenient opening hours and plain old stuffiness (something which some banks haven't and probably will never get past), K-Bank has been attempting to capture the younger market with a series of promotional tie-ins with things young people would appreciate.
Their latest marketing scheme is a tie-up with the ever popular Angry Birds. They're offering ATM cards printed with a choice of Angry Bird, or their arch nemesis, the pigs.
The tie-in also involves the ATM machine itself. All users have been offered the option to select themed ATM screens, with brands such as Paul Frank and now the birds being offered.
This is an excellent strategy. The problem with some of the legacy banks in Thailand is that some of them are still geared towards serving the rich old man with big business segment. Their customer service is generally terrible (except to the rich old men), while product offerings seem to be stuck in the early 1990s.
With K-Bank, they've come to realize that they've been alienating their future rich customers with legacy marketing strategies - young people today are tomorrow's rich big business owners, while today's rich old people will one day, pass on. For several years now the bank has making a concerted effort to fix this oversight and it seems to be paying off.
Businesses need to move with the times and with their clients. People age, change and eventually will die, and if you haven't made an effort to make sure you've attracted the next generation of customers, you may die with them.