Kotak 811 Account opening campaign was started in 2018 and this is when Value leaf came to us with this campaign. The Major challenge was people were downloading the Kotak 811 Account but maximum people were not opening the account after downloading the App. In Conclusion, the Quality of Downloads was not good. The challenge was now not to get maximum downloads but to get Maximum Quality Account Opening.
Usually Market approach to email and SMS Campaigns is to target people with different subjects lines, different email Creatives and SMS Content. But that was not working well for the industry. We started this campaign with different approach to Automated Behavioural Targeting on Email and SMS. We needed to build trust and then work on getting the account open.
Phase one: Creating Trust
Phase two: Pitching the audiences who positively responded to our ﬁrst communication to open an account with Kotak.
Phase Three: Retargeting people who didn't respond to the first communication with a different approach.
This entire approach was Automated.
80k Account Opened while maintaining Download to Account opening went up by 65% In 2018. We were able to cut down the marketing cost by 7% Every 2 Quater and by 9% Every remaining Quater.