Singha partners with WisePass for a trial campaign
Since July 2019, Singha has started to partner with WisePass to roll out a trial campaign across Ho Chi Minh City and Ha Noi. This partnership is unusual as WisePass is known to working in the premium segment and focuses on spirits and wines. Why has the company changed its mind?
In this interview, the founder and CEO of WisePass, Lam Tran answers 3 questions
Why did you partner with a beer company suddenly?
Our company is focused on bringing the widest selection to our consumers and beer is no exception to that. For us it’s a natural evolution to offer a wide spectrum from an expensive whisky bottle to a beer, the market shows that there’s some demand for such products. What we do is to adapt and adjust to the demand as we’re primarily market-driven and focus solely our mission, which is to make sure people can have a good time.
As WisePass is growing over the years, our mission is not to be premium lifestyle app where people need to pay 300$ or more to access our value proposition. We want to make sure our plans become more affordable and yet maintain a great value proposition and eases of use for our consumers.
Hence, you’ll likely see more brands from various industries and bringing a new experience for our subscribers.
How does that make sense for subscribers to pay a premium membership to get access to beers?
That new offering will be only accessible through a whole new plan we designed with Singha. Initially we price the plan at 189,000 VND and subscribers will be able to get 3 beers everyday in selected venues. When you go around the city and ask for a beer, the price can range from 30,000 VND to 120,000 VND depending on the venue. We believe the value proposition is pretty attractive and our subscribers can discover and enjoy some great savings over time using WisePass.
For premium members, we don’t think it makes sense to them to redeem beers yet. Although, I received already some requests from some existing members asking how that can be offered as well to standard and premium members in the future, I believe it’s safe to start with an experiment and we will figure out quickly what can be done for anyone to access to Singha beers.
Our main challenge will be to take a look at how our current system is designed and work around a new redemption model to make sense for brands and subscribers.
Doesn’t that dilute your brand image as WisePass is perceived as a premium brand?
WisePass is first and foremost a technology company. What we do is to build a great consumer product that will give our subscribers a great value proposition at the pricing we set. the more brands we can onboard over time, the wider the selection, the better the value proposition. That’s what really matters to us.
As a tech startup, our key success factor is really to look at how many brands trust us to use our product and how many subscribers we can acquire to measure the. ultimate metric we call interactions. The more our subscribers interact with our brand partners on our platform, the more we’re successful in our mission.
I believe our brand will simply improve as we have more brands and subscribers using our product, at the end of the day that’s what matters for a tech startup.
