Secret Lives of Singaporeans issue #30: MrBeast, Blooboxes and business payments

SECRET LIVES OF SINGAPOREANS

Issue #30 – Week commencing 15 May 2023

Authored with pride by Jochebel Khong and WeiXiong Yeo

Secret Lives of Singaporeans is an ongoing collection of marketer-friendly briefs on the fascinating people of the little red dot, by planners and PR consultants from the big red agency. It’s not “thought leadership”, it’s “inspiration to DO”.

Each issue comprises

• One thing people in Singapore are talking about

• One thing people in Singapore are searching for

• One thing that’s in the news in Singapore Image Credits:

One thing people in Singapore are talking about :

MRBEAST $100,000 GIVEAWAY: LUCKY SINGAPOREAN WINS

Image Credits: Sportskeeda

Jimmy Donaldson, more famously known as MrBeast, is a content creator, philanthropist and entrepreneur. He is currently one of the most popular and successful creators on YouTube, best known for elaborate stunts, robust charity efforts, and giving away large sums of money in his videos. Recently, he had a birthday giveaway on Instagram, which promised 10 random winners US$10,000 each. Local interest surged when a Singaporean visual artist won more than S$13,000 from this giveaway.

Many have questioned MrBeast’s philanthropic acts and his actual intentions. While it is without a doubt that he donates to charity and support the needy, some critics find his gift-giving often misguided.

It has become customary for brands to announce their philanthropic acts to enhance their brand image and gain consumer support. But overtly publicised good deeds often invite criticism, prompting the question – how does one share without coming across as inauthentic and insincere?

Some basic dos and don’ts for any brand looking to do a spot of good:

• Do make the benefit meaningful.

• Do make the actions on-brand.

• Don’t make the act about themselves first.

Because not every brand is Sheng Siong, now known for years of donating at funerals while actively shunning publicity; but any brand can do good with class.

One thing people in Singapore are searching for :

IS WHATSAPP’S IN-CHAT PAYMENT A NEW CHAPTER FOR DIGITAL BANKS?

Following its successful launch in India and Brazil, WhatsApp is now introducing its feature allowing users to pay businesses directly within a chat in Singapore. This strategic rollout is particularly noteworthy given that WhatsApp has a massive user base of 4.6 million individuals in Singapore, equivalent to approximately 78% of Singapore’s total population.

But Singapore already has no shortage of digital payment services.

The introduction of WhatsApp’s in-chat payment in Singapore can provide valuable lessons for digital banks looking to gain widespread adoption.

These are three ways digital banks can continue to value-add to the Singapore market.

1) Keep it simple: One of the reasons why WhatsApp’s in -chat payment may be successful is due to the integration into the messaging app that users are already familiar with. Digital banks can learn from this and strive to make their own payment services as easy and seamless as possible. This could include instant transfer, automated payments and integration with other apps.

2) Leverage partnerships: WhatsApp has partnered with several major banks in Singapore to enable in-app payments. Digital banks can learn from this approach and actively seek out partnership with payment processors, fintech companies, and other organisations to enhance their own payment options and customer experience.

3) Provide value-added services: In addition to payments, WhatsApp has expanded its offerings to include features like transaction history, payment requests and customer support within the app. Digital banks can provide these services including personalised financial insights, spending categorisation, and budgeting tools, to enhance the overall banking experience and drive take-up.

Sources: Google Trends, CNA, The Straits Times.

Picture Credits. https://www.channelnewsasia.com/commentary/meta-whatsappdigital-payment-cybersecurity-cybersafety-3481026

One thing in the news in Singapore:

BLOOBOX: HOW CAN BRANDS INFLUENCE

POSITIVE BEHAVIOURAL CHANGE?

Image Credits: ChannelNewsAsia

The Bloobox, a free household recycling box, was distributed across Singapore until 30th April 2023, as part of National Environment Agency (NEA)’s recycling initiative announced in November 2022. Almost 93% (530,000) Blooboxes were distributed, with the remaining boxes used to support the Recycle Right campaign.

To effectively promote sustainable habits and encourage behavioural change, it is crucial to go beyond mere communications efforts and provide an extra nudge for consumers to take action.

There are several key factors brands should take into consideration to influence behavioural change:

1) Make it desirable: It is essential to align the desired behavioural change with consumers’ self-image and how they wish to be perceived by others. By associating sustainable habits with positive attributes, individuals are more likely to embrace them.

2) Make it easy: While most consumers already have the intentions of adopting such behaviors, what they need is an extra nudge to take the first step. The Bloobox is an example of providing a physical solution instead of an idea or suggestion, making it easier for them to adopt the change.

3) Make it a habit: While taking the initial step is commendable, the goal is to transform it into a consistent habit. This requires reinforcing and reminding individuals, creating a system that encourages repetition, and ultimately making the behaviour unconscious and automatic.