The Innovative Marketing Strategy of Bkash

bKash, launched in 2011, is one of the top companies in Bangladesh’s mobile financial services (MFS) market. It is contributing significantly to the nation’s increased financial inclusion. Despite the presence of numerous other MFS companies in the industry, bKash has established a reputation for trust among the populace due to its unique marketing strategies and the efforts of BRAC Bank Limited. The well-thought-out and successful marketing approach of bKash is the driving force behind its success, and this is covered in-depth in this essay.

1. Raising Branding and Awareness 

By emphasizing the advantages of its services and fostering consumer trust, bkash is dedicated to its branding approach. By educating the public about their offerings through public awareness campaigns, social media campaigns, and media ads, they boost consumer confidence in bkash. bkash’s popularity among the general people has grown as a result of the government’s efforts to offer quick financial aid during the COVID-19 outbreak. For instance, BRAC gave 7,250 foreign employees 3 crore taka in emergency aid via bkash.

Bkash’s effective strategy for branding and increasing awareness. | Photo collected.

2. The diversification of services

bkash is constantly adding new services to its portfolio. Originally offering mainly money transfer services, it now also offers bill payment, online shopping payment, savings and lending services, and mobile recharge. bKash’s position in the market is strengthened by this diversity of services, which also helps to satisfy the different needs of clients.

Furthermore, people increasingly trust the name bkash. because they can now access the whole banking industry thanks to bKash. Money can now be transferred straight from the majority of the nation’s banks to bKash. You can also keep money in the bank from bkash if you want. Most importantly, bKash allows you to accomplish as much as you can at the bank, including making monthly installment deposits. With the introduction of the “bkash Mini Loan” service in 2023, consumers can now conveniently obtain a loan ranging from 500 to 20,000 Taka.

3. Innovative Technology

bkash has frequently upgraded its services and applications with new technology. It guarantees client satisfaction by offering quick transaction times, security features, and easy-to-use interfaces. bkash has also given careful consideration to digital branding. It has used this marketing alone to reach most people in Bangladesh. Many well-known faces have appeared in its TV ads. People now regard bkash as their own. Furthermore, bkash added “Double Factor Authentication” in 2022, which has boosted consumer confidence in the company.

Bkash’s technological innovations have made digital transactions easier and more secure. | Photo collected.

4. Partnership and Expansion

Together, Facebook and bKash started a campaign in 2023 to let small companies accept bKash payments. Transactions for such small enterprises have become simpler as a result. Many organizations, including banks, e-commerce sites, and utility service providers, have joined with bKash. Customers can save time and money by receiving many services on a single platform.

On the other hand, more than twenty banks nationwide, including bKash Eastern Bank Limited, Sonali Bank PLC, BRAC Bank, and City Bank, allow direct bKash transactions.

5. Customer-centric campaigns

As part of its marketing strategy, bkash prioritizes the demands and habits of its clients. Through various promos, cashbacks, and offers, it draws clients and boosts transaction volume. For instance, incentives such as 20% cashback on bill payments made with bkash have raised consumer interest. Due to its educational subsidies for youngsters, bkash has gained greater confidence among rural Bengalis. Furthermore, bkash is another way that the government distributes educational scholarships to the most vulnerable villagers. As a result, bkash has steadily gained their favor.

Bkash’s customer-centric campaigns encourage users to adopt their services. | Photo collected.

6. Activities for Social Responsibility

Every corporate entity has some social obligations. which all businesses refer to as CSR or corporate social responsibility. The nation’s other organizations are unaware of their social obligations. In this instance, bKash is an exception, as they adhere to social responsibility standards.

It has been engaging in many social development initiatives. In the fields of education and medicine, bKash has stood out. In 2022, The Daily Star and CSR Window Bangladesh presented bKash with the ‘Best CSR in Education’ award in appreciation of its contributions. Additionally, in collaboration with the Ministry of Social Welfare, bKash has helped distribute allowances to the poor under the Social Security Program. To further enhance their brand image, bKash also takes part in a number of additional social responsibility initiatives. The general public now accepts them more because of their contributions to health, education, and disaster relief. For instance, in the 2024 flood-affected areas, bKash offered relief aid.

The secret to bKash’s success is its carefully thought-out marketing strategy, client-focused campaigns, technology advancements, partnerships, and social responsibility initiatives. These tactics have allowed bKash to keep its dominant position in Bangladesh’s mobile financial services market.

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