Quantified self and wearable technologies are efficient tools for marketing in healthcare and fitness. Russian Alfa Bank proves that also bank marketing can fit to wearable tech and quantified self.
Alfa Activity is a new service created by Alfa Bank together with local 42 Agency. With Alfa Activity, customers of retail branch of Alfa Bank can connect their online accounts with tracker devices. Alfa Activity supports Fitbit, Jawbone Up and RunKeeper. Every step is now an opportunity to not only improve your health but also to generate higher interest from your savings. Alfa Bank has created special saving accounts with interest higher than other options available to customers. Making steps is the only way to transfer money into this account.
Alfa Bank customers who have used Alfa Activity gain twice. They save more than those who not participate in the program, and they make more steps than before.
Alfa Activity is a great example of innovative approach to bank marketing. The quantified self and wearable technologies are increasingly popular in the groups that are the most important for retail banking.
According to the latest global market study by International Data Corporation (IDC) shipment volumes of wearable devices will exceed 19 million units in 2014 — that’s more than triple of last year sales. Nielsen’s recent Connected Life Report found that young adults lead the charge in adopting wearable tech, with consumers between ages 18-34 making up half of owners of fitness bands (49%). Accenture’s Digital Consumer Tech Survey shows the interest in fitness trackers is the highest in 14-17 (69%) and 18-34 (61%) age groups.
Alfa Activity targets important and growing segment, shows innovation spirit within marketing team of the bank and, last but not least, positively impacts both lifestyle and accounts of the consumers. It is bank marketing at its best.