Business Marketing Strategy of BRI for the BRImo Product Using SOAR Analysis (Strengths, Opportunities, Aspirations, Results)

Abstract

BRI must leverage its internal strengths and capitalize on external opportunities to sustain and enhance its market position. Strategic tools such as SOAR (Strengths, Opportunities, Aspirations, Results) play a vital role in formulating marketing strategies that prioritize these strengths and opportunities while aligning with long-term aspirations to strengthen the company’s capabilities. This research investigates the marketing strategies employed by BRImo to drive its business development, utilizing a qualitative case study approach. Data were gathered through interviews with the Head of Retail Payment and Merchant Regional Office Medan. The findings reveal six strategic themes critical to BRImo's success: (1) Multisegment Approach and Educational Campaigns, emphasizing targeted outreach and customer education; (2) Rapid Response and Data-Based Analysis, enabling agile decision-making; (3) Adaptation to Competition and Digital Literacy, fostering resilience in a dynamic market; (4) Continuous Innovation for Customer Empowerment, enhancing service delivery; (5) Data-Based Evaluation and Customer Experience, ensuring insights-driven improvements; and (6) Feature Development and Strategic Partnerships, promoting growth and collaboration. These results contribute to the literature on strategic marketing in digital banking by offering actionable insights into how a financial institution can align its strategies with evolving customer needs and competitive pressures. Practically, the study underscores the importance of integrating data-driven approaches, innovation, and strategic partnerships in enhancing customer engagement and maintaining a competitive edge in the financial technology sector