Philippine bank develops a successful campaign template

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Overview:

The bank is the largest commercial foreign bank in the Philippines in terms of assets, revenues and profitability, providing corporate banking, treasury, transactional banking, consumer banking and Trust services. Its Institutional Clients Group is a recognized leader in providing financial services to public sector undertakings, top-tier Filipino corporates, multinational companies and financial institutions in the country. It offers innovative end-to-end cash management solutions, trade finance and services, securities custody and funds services, corporate banking and advisory services, and the most comprehensive and sophisticated range of treasury products in fixed income, currencies, commodities, and derivatives.

Challenge:

In Philippines the bank wanted to acquire leads for its Weekend Exclusive Online Treat campaign that it ran with the Online Travel Agency Agoda and the Intercontinental Hotels Group (IHG). The campaign was targeted at online banking customers with its credit cards. The bank had not run any such campaigns in the past and was not sure about how the response would be. Xerago was roped in to assist the bank to make the campaign a great success and make this a model for future campaigns. For this 3 day exclusive sale, Xerago was given a very short time to develop and execute the campaign.

Solution:

Xerago assessed the target audience, identified their needs and wants and drafted a line of communication that would resonate and influence a call to action. Based on this, Xerago created multiple teaser mailers and SMSs that were sent to a controlled group that was representative of the entire target audience and the results used to fine tune the line of communication. Then Xerago developed digital assets such as mailers, banners etc. that addressed the sensibilities of not just the target audience, but also the media vehicle that was a part of the media plan. The banners developed by Xerago were used across the bank’s Philippines’ Facebook page, Agoda.com’s microsite, the bank’s online banking landing page and on the pre-login section of the portal.

Post the campaign roll out, Xerago tracked the customer response rate and the campaign proved to be a great success with phenomenal customer response rates.

Results:

  • 228 bookings in 3 days at an average of 76 booking transactions every day.
  • 406% increase in average daily booking transactions (76 against 14)
  • The total transactional value over the three days clocking a record USD 89,547.15

Benefits:

  • Significant number of first time Online Banking Customers and Agoda users
  • Targeted messages sent to a selected customer group received a phenomenal response rate of over 406%!
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