What goes into creating a 'Priceless' experience, MasterCard shows how

India accounts for the largest number of visitors to Sri Lanka. According to official estimates, approximately 425,000 Indian tourists were expected to visit the country in 2019. MasterCard brings their global experiential campaign – ‘Priceless Cities’ – for the first time in South Asia. 

Through this campaign, MasterCard cardholders around the globe will be able to access six, one of a kind, experiences in Sri Lanka. The Priceless Cities campaign was first launched in New York in 2011 and now covers 50 cities worldwide. 

"Mastercard has identified 10 areas or passion points that people care about. Travel is one of them. The ‘once in a lifetime’ experiences will let them live their passions, something that money cannot buy. This will help Indians who are increasingly aspiring to enjoy offbeat and unique activities, vacation closer to home in Sri Lanka,” said Manasi Narasimhan, Vice President, Marketing and Communications, South Asia, Mastercard. 

Global tourism is on the rise and MasterCard is deeply committed in enabling it. First time travellers can opt for traditional tour packages, but MasterCard has observed an increase in the trend where travellers want more local experiences. 

Tourists are often concerned about safety and security when they travel abroad and often stick to the trodden paths. The Priceless Cities initiative fits MasterCard's positioning as the safest payments network across 200 countries and 45 million merchant outlets. 

The dynamics of travel have changed. Earlier, families used to be the main travellers, but there has been an increase in solo women travellers, empty nesters, and groups of millennials. Indians are now willing to travel throughout the year, according to Narasimhan. 

International tourists also tend to be more discerning as to where they choose to spend their money. Offering them priceless experiences has to be more than lip service. 

A lot of research goes into planning an international trip. What route to travel, what to wear, cuisine, where to visit, etc. Time is usually a constraint so you try to get the best bang for your buck. 

Through ‘Priceless Cities’, MasterCard eliminates friction in one’s journey. They have set up a microsite which customers can visit to learn more about the experiences and attractions curated by MasterCard. The same information is available via their partner banks in each country. 

The real heavy lifting happens in the thought process. How to deliver a truly local experience? MasterCard approaches tourism boards and travel partners in these cities and share their idea of 'Priceless Cities’. “It is not about throwing money around,” maintains Narasimhan. "We are committed to refreshing these experiences in perpetuity.” 

A personalised experience could be a private Safari tour where your guide is a professional photographer or a wine tasting accompanied by an actual gourmet. 

Because of the hyperlocal nature of the campaign, MasterCard only offers it in countries where they have a very strong presence. 

The communications for the initiative is relayed via the B2B and B2C route. MasterCard via its partner banks brings the information to their customers. 

Narasimhan adds, "Being a global payments gateway we have to activate this in many countries simultaneously." The decibel levels of the campaign are increased during peak vacation months. 

International tourism is important to a global payments gateway like MasterCard because it starts at the affluent level and keeps percolating down. When currency issued in one country is used in another country the entire network including MasterCard and their bank partners stand to gain significantly.

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