growth engine for Mastercard Israel in 2021
increase in business goals
of users used platform twice
of own media investment leveraged through media partners own media
The local payments market consists of many players with mutual interests but competing against each other: Payment companies, card issuers, credit companies, banks & loyalty programs. All players face the same challenge: How to capture consumers' attention and remain top-of-mind in order to be "Top-of-Wallet" (the Card will be pulled first from the wallet). In the absence of differentiation in the market, Israeli consumers are completely apathetic towards the cards in their wallets: It is difficult for them to understand why choosing a card from one brand over another is beneficial, and their disappointment comes from the considerable effort involved in gaining the benefits of the card.
Until 2020 Mastercard's differentiation and communication strategy was based on "Global Experience" and cross border payments. But then the COVID-19 hit... The skies closed and the global tourism stopped entirely. Mastercard's main growth engine had crashed.
Therefore the challenge was to create a new business and communication engine at a time when consumers were adopting new habits leading to:
- A significant decrease in usage of Mastercard cards abroad (due to no more tourism or travel)
- A radical change in consumer behavior as e-commerce became the (almost) only channel available to consumers
- High demand for digital experiences and online purchases in times of this global crisis & lockdowns
The challenge was turned into an opportunity:
There was a need for quick action to convert the "global experience" from the tourism industry into a local e-commerce industry, which became the new way of life for Israelis during this time.
Develop and leverage a new value proposition in order to differentiate Mastercard from the competition based on 3 pillars:
- Differentiating and establishing Mastercard as the most relevant payment brand for the Israelis
- Developing and communicating real added value for consumers, not another complex benefit program that they'll ignore
- Compensating for the loss of cross-border payments by developing a business growth engine (revenue-based)
- Establishing “Mastercard Day” as a new consumer-centric digital offer platform
- A wide variety of digital platforms and tools were used to promote Mastercard Day throughout the yearDespite a limited budget, we maximized exposure for Mastercard Day through sponsorships
- Additionally, we effectively leveraged our partners' owned media assets, which created a huge power multiplier for us (8X over our actual media investment!)
Mastercard Day Became the Growth Engine of Mastercard Israel in 2021:
- The 10th of the month has become a mini-Black Friday, helping the country cope with an economy in crisis.
- A 100% increase in business goals in just a year.
- More than 80% of those who experience the platform use it more than twice.
- Compared to its main competitor in the payments category, the Mastercard made significant strides.
- Mastercard global's management decided in 2022 to replicate the successful move to many more global markets following the extraordinary success.
In a short time and during a dramatically changing market, Mastercard Day paved the way for business growth, brand leadership, and strengthening Mastercard's position as the most relevant credit card for the everyday use!
KIA Israel: Full-funnel digital approach
Tackling a shortage-shaken market with efficiency
Launch of Mastercard Day
Developing a new growth engine to counteract the effects of the global COVID-19 crisis and leveraging the Mastercard brand in Israel to new heights.
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