Competitors to Netflix join forces with Visa to bring new customers to the company’s Online video playground. A company known to primarily overseas audiences, ICFlix, was established in 2012 and offers a vast array of titles from Hollywood to Bollywood and even Jazwood, which are Arab releases. According to an August 31, 2014 press release, the company has announced that the offer would begin the following day, which would be September 1, 2014.
The offer is very simple, and it is set up to benefit both Visa and ICFlix in assuring that a customer will use a Visa check, debit or credit card to make a subscription purchase with ICFlix. Through their purchase, they will receive two months of service for the price of one. Each subscription fee is similar to that of Netflix, set at $7.99 USD, and appears to offer a larger variety of titles for the International viewer. Even greater the value, consumers are allowed to test drive the platform for free for seven days before making a decision, or while awaiting the arrival of their new Visa card.
In making services more convenient for consumers, ICFlix has created cross platform delivery in that movies can be viewed on tablets, PCs, gaming platforms, smart TVs and mobile devices. Is this perhaps a way that Visa is taking advantage of Internet and Mobile Marketing without “in-your-face” marketing? Customers may seek to apply for a new Visa card if they do not currently hold one in that they will see benefits of just that. Likewise, those that hold a Visa may search for other perks and offers available to them. ICFlix will benefit from new consumers that will take advantage of the offer, spread the news to friends and will convert to long term customers. This will build brand loyalty amongst the audiences, who feel they are getting something "extra" for choosing to do business with these brands, as opposed to their competition.
On the cross promotional merger, Karim Beg, Head of Marketing at Visa MENA said: "Visa is pleased to partner with ICFLIX to allow Visa cardholders in the MENA region a special incentive when they purchase a month's subscription on the popular online streaming website. We are delighted to be able to offer avid Hollywood, Bollywood and Jazwood fans in the region the opportunity to stream their favourite films, while enjoying the safety and convenience of transacting with Visa."
We have seen cross promotions between major companies time and time again. This isn’t the first, and it surely isn’t the last. But, it is great to see older, more established businesses teaming up with much newer, expanding businesses and bringing new innovations, offers and brand loyalty to the table.