Acquisition Of First Jobbers For Credit Cards

Case Study

Acquisition Of First Jobbers For Credit Cards

Banks were the first to use the Internet in the early days as a cost-effective means to acquire new customers. See how we did just that and delivered higher cost efficiency and cross-selling opportunities.
Problem Definition Solution Description Results

 

The UAE attracts a lot of people who are looking to build professional success and achieve the lifestyle they aspire to. Given this flow of people from the Indian subcontinent and the Philippines the Bank wanted to focus on the credit cards division and rapidly drive customer acquisition to arrive at a substantial base from the incoming traffic. Specifically, the business teams decided to focus on first jobbers so that they may save money though the bundled value-added services - The card had been specifically designed to deliver maximum value to such customers. Given the sharp definition of the audience and the product, as the marketing agency partner, we were tasked with delivering on business objectives in terms of customer acquisition.

 

 

We relied on the fact that everyone used social media platforms, specifically LinkedIn to ensure that all in the network are informed of a change in employment.  We designed the solution to target those who had landed jobs in the UAE and used LinkedIn to signal the same. We focused the audience by looking at other filters such as language, age, industry, and region. Those who clicked on the programmatic ad had a cookie dropped on the browser which allowed us to follow the person on other social media sites, news and gaming sites and push other creative centered around the benefits offered by the card. We used the database of those who signed up and created a look-alike campaign on Facebook to target and enrol people of similar profiles who may or may not be accessible on LinkedIn. We periodically looked at the performance metrics of the campaign and optimised the same to ensure a low cost of acquisition.

 

 

We were able to meet the expected number of new card holders through the campaign at a cost per acquisition lower than previous campaigns. We also looked at the cookies to push advertising on other retail banking products like personal loans etc. thus going beyond our objective and delivering on business and the brand strategy.

Project Details

  • Banking & Financial Services
  • Strategy Formulation
  • Vikram Sivaramakrishnan
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