Visa
Client: Visa
Product: Visa Small Business Hub & Visa Solutions
Title: 9X16 Stores
Media: Vertical Videos
Country: Singapore
Date Of Campaign: 01/08/2020 to 31/12/2020
Background: Small businesses were hit the hardestWith the inability to continue business during government mandated lockdown periods and the over-reliance on physical transactions, local businesses were hit particularly hard during COVID-19.Since Small and Medium Businesses (SMBs) account for 99% of all business in Singapore, their recovery will be crucial to the recovery of Singapore’s economy. Accelerated preference for digital payment Since COVID, 70% of Singaporeans have increased online purchases and mobile shoppers have also increased from 41% pre-COVID to an astounding 93% during COVID.Visa needed to help small businesses go onlineWe recognized that for small businesses – it was digitizing or perish. A fundamental tenet of going from bricks-to-clicks is acceptance of digital payments. That’s where we can help.
Idea: ‘9x16 Stores’ – a vertical videos campaign showing the limitless potential a 9x16 mobile screen can unlock, when they bring their small shops online with Visa.Since COVID, Singapore consumers’ preference for eCommerce over physical payments has grown significantly – 70% said their online payment had gone up in 2020. This shift was particularly profound on mobile – with the flourishing mobile shopping apps like Lazada and Shopee, mobile shoppers have increased from 41% pre-COVID to an astounding 93% during COVID.However, Singapore small businesses are still heavily reliant on its physical stores – less than $2 per $100 of goods sold by local brands were transacted online, which is 92% lower than the retail average.Although more small businesses have started to see the value of moving business online amidst COVID disruptions, many of them consider it as a short-term fix during social distancing, and don’t see the value in investing in establishing a long-term online presence. For those who do see the importance of eCommerce, only very few have the resources or know-how to make the transformation.As a leading payment innovation brand, Visa understood that for these small businesses to thrive and grow their businesses in the new normal, going online is inevitable.To help Singapore small business owners to understand the values of eCommerce, particularly mobile commerce, Visa must show the transformative impact of bringing small businesses online and provide the resources/tools they need to do so.We knew digital videos would be the core of this campaign but with countless branded videos in the market and limited budget, how can we cut through and get the attention and actions of our audience?While most branded videos are designed for horizontal screens, 94% of our mobile usage is vertical.1 In fact, major social/video platforms like Facebook, YouTube and LinkedIn all have introduced vertical video format in the past two years to provide a more intuitive content experience.With that, instead of using an awareness-driven cinematic approach, we’ve decided to hone in on the small but highly impactful format – vertical videos that is mobile-by-design. Re-create familiar small shops inside a small 9x16 mobile screenTo show small business owners the value of moving business online, we created a vertical video idea that smartly uses the narrow mobile screen to dramatize the small and cramped physical space of common local shops. In just a second, with the support from Visa, these 9x16 small shops instantly transformed into an online business with limitless growth opportunities.We created different versions according to the most common types of small shops in Singapore – mamak shop, plant shop and tailor store. We then serve these three versions on rotation, targeting small business owners in Singapore on different social and digital platforms. Each vertical video ends with a strong call-to-action to visit Visa Small Business Hub to learn more about how Visa can help bring their business online.Provide practical tools and resources on Visa Small Business Hub To enable small businesses to transform their business digitally, all audience would be directed to Visa Small Business Hub where Visa provides tips and tools that could equip small businesses with the resources and advice they need to start bringing their business online.Another goal for the Hub is to generate leads for the Visa sales team. To motivate small business owners to share their data for follow-up, we designed an eCommerce Starter Kit for them to sign-up and download easily on the Hub. Supported by sustaining content from #WhereYouShopMatters While the vertical videos are the key assets, the campaign was supported by sustaining social content and small business testimonial videos created for #WhereYouShopMatters phase 1.
Results: Overall, we’ve achieved big success in reaching our objectives, all mainly through 9x16 small videos:1. Build awareness of Visa Small business Solutions • On Instagram Stories, the ‘9x16 Stores’ vertical videos garnered 10,132,513 impressions in totality with 578,727 Thruplays.• Whereas on the programmatic advertising platform, the videos achieved 65.62% View-Through-Rate and 0.15% Click-Through-Rate which is 60.62% and 0.13% higher than the industry average respectively.2. Trigger interest in Visa Small Business solutions• With just a fraction of the media budget of Phase 1 and with a niche small business owner audience segment, we expected a much lower volume of website visit versus the previous phase. It surprised us when we saw we garnered more than 80K of visits to Visa Small Business Hub, which equals to 70% of the total visits in Phase 1 of the campaign.• There was a total of 138 small businesses sign-up to redeem Visa eCommerce Starter which means we exceeded the target of 100 new leads.3. Increased Visa solutions uptake and usage• During the campaign period, Visa successfully got 106.9K new small businesses to start using Visa solutions.
