VISA BUSINESS HUB – EMPOWERING SMBs WITH DIGITAL PAYMENT SOLUTIONS

SITUATION

The demand for digital payments among large companies in Bulgaria continues to grow, with 79% already using business cards. Against this backdrop, small and medium-sized enterprises (SMEs) which account for 76% of total employment and 65% of the country’s added value—still lag behind. According to a study commissioned by Visa, on average only 23% of monthly SMEs payments are digital. Some of the reasons include concerns about the security of financial resources, the complexities of accounting, and the financial management challenges of switching to business card payments.

To address this situation, Visa Bulgaria launched the Visa Business Hub, a dedicated digital platform designed to educate SMEs about digitalization while simultaneously supporting their business development with practical information, insights, and exclusive offers. This initiative is in line with Visa’s global commitment to support SMBs in their digital transformation and contribute to the digitalization of the economy.

GOALS

• Enhance Digital Payment Awareness: Elevate awareness among SMEs regarding the benefits of adopting digital payments.
• Empower Business Owners: Educate and equip business owners with essential tools and resources to enhance operational efficiency and financial management.
• Reinforce Visa’s Strategic Role: Solidify Visa’s position as an important partner in facilitating the digital transformation of SMEs in Bulgaria.

STRATEGY

• Combine media outreach and direct engagement to effectively communicate the platform’s benefits.
• Address specific challenges faced by Bulgarian SMEs, via tailored content based on research-driven insights.
• Collaborate with key Bulgarian business organizations to extend the reach and impact of the program to the targeted audience.
• Communicate regularly on national and regional level to reaffirm Visa Business Hub as useful first-choice tool for SMEs.

TACTICS

Filling the information Gap

• Study commissioned by Visa to identify the SMEs sentiments concerning digitalization of their payments.
• Expressed by SMEs concerns have been directly addressed through tailored content on Visa Business Hub and in media publications.

Visa Business Hub digital platform featuring:

• Educational resources about digital payments addressing the SMEs concerns
• Useful information about the Visa Business cards benefits.
• Exclusive discounts and offers for Visa Business cardholders.
• Macroeconomic data and insights
• Tax calendar for SMEs
• Analyses of consumer groups and different generations sentiments towards digital payments

Media communication

• Media event for presenting the Visa Business Hub platform and Visa-commissioned study results. Attended by 65 representatives of Tier 1 media, banks and NGOs.
• 1 press release distributed to national and regional media
• 2 interviews of Visa Country Manager in most popular general daily 24 Hours and in Bglobal business magazine
• 5 bylined journalists articles representing the platform
• 31 dedicated publications across national Tier 1 and regional media

Content Marketing

• Direct mailing with information about Visa Business Hub and invitation for monthly newsletter subscription to database of SMBs.
• Monthly newsletter with selected exclusive offers for Visa Business cardholders distributed to SMEs subscribers.
• Testimonial video featuring Visa Business cardholders, highlighting their positive experiences. Shared in media publications and on Visa Bulgaria’s Facebook page.

Business Organisations Partnerships

Collaboration with Bulgarian Industrial Association (BIA) and Bulgarian Industrial Capital Association (BICA)

• Distribution of the monthly newsletters to their SMEs databases
• Publications with information about Visa Business Hub on their websites
• Posts about the platform in their social media channels
• Publication of exclusive offers in their magazines and newsletters

RESULTS

• 11 publications of the press release, 2 interviews and 5 bylined articles with a total daily media reach of 1.1 million
• 31 dedicated articles with 3.4 million daily reach
• +1800 SMEs reached via direct mailing with information about Visa Business Hub
• 1368 SMEs subscribers for the monthly newsletter
• 12 issues of the monthly newsletter distributed via partnering business associations with a reach of +800 SMEs per issue

The increased awareness and engagement established Visa Business Hub as a valuable tool and Visa as a key partner in the digital transformation of SMEs in Bulgaria.