The diaspora market is an incredibly lucrative one, with an estimated $550 billion in remittances sent to developing countries in 2020 alone. Money transfer companies that specialize in facilitating these transactions are in a unique position to leverage this market and increase their customer base. However, reaching and engaging with this demographic can be a challenge. One effective solution is to incorporate a photo booth into activations and marketing efforts.
In this blog post, we will explore why money transfer companies should use photo booths for activations in order to better reach their targeted market of the diaspora.
The Power of Photo Booths
Photo booths have become increasingly popular in recent years, appearing at weddings, parties, and corporate events. This is due in part to the ease with which they allow people to capture and share memories, and the fun and interactive experience they provide. However, photo booths can also be a valuable marketing tool, particularly for companies that want to reach a specific demographic.
Photo booths allow companies to engage with their target market in a way that is both interactive and memorable. By incorporating branded elements into the experience, such as a custom backdrop or props, companies can ensure that their brand is front and center in the minds of participants. In addition, photo booths generate shareable content that can be easily distributed on social media, allowing the company to extend its reach beyond the event itself.
The Diaspora Market
The diaspora market is a valuable one for money transfer companies. The term “diaspora” refers to a community of people who have emigrated from their country of origin and now live elsewhere. These individuals often send money back to their home country to support their families or invest in businesses. In fact, the World Bank estimates that remittances sent by diaspora communities totaled $540 billion in 2020, making it a significant source of income for many developing countries.
Money transfer companies that specialize in facilitating these transactions are in a unique position to reach this market. However, engaging with the diaspora community can be challenging, as they are often spread out across different regions and countries. In addition, there may be language barriers or cultural differences that need to be taken into account.
Why Photo Booths Work
Photo booths are an effective way to engage with the diaspora market for several reasons. First, they provide a fun and interactive experience that can appeal to a wide range of people. By incorporating elements that are specific to the culture or language of the target market, companies can ensure that the experience resonates with participants on a deeper level.
Second, photo booths generate shareable content that can be easily distributed on social media. This is particularly important for the diaspora market, as many individuals use social media to stay connected with their families and communities back home. By creating content that is shareable and engaging, companies can extend their reach beyond the event itself and tap into the wider network of the diaspora community.
Third, photo booths provide a way for companies to showcase their brand and offerings in a unique and memorable way. By incorporating branded elements into the experience, such as a custom backdrop or props, companies can ensure that their brand is front and center in the minds of participants.
Finally, photo booths provide a way for companies to collect valuable data and insights about their target market. By collecting email addresses or social media handles, companies can continue to engage with participants after the event and gather feedback on their offerings.