Hitting the Target with Challenging Calls to Action
Owned and operated by one of the safest and most well known financial institutions in the Asian market, DBS Bank, digibank is a mobile alternative to traditional banking. With all of your banking needs available through a single, user-friendly app platform, this really is paperless and branchless banking at its best. As Indonesia first all-digital bank, digibank lets you deposit, withdraw, transfer, make payments, manage investment accounts and even plan for your financial future, all using native app features.
Identifying the Problem
As a new way to handle money, digibank faces the challenge of growing their customer base. Financial customers are notoriously conservative, and reaching new audiences is crucial to meeting their goal of 24,000 new saving account registrations by the end of the year.
One of the biggest barriers to new accounts is the registration funnel, which requires prospects to visit a booth or make an appointment with a digibank agent to complete a biometric scan. Unfortunately, only 60 percent of approved account holders followed through on the process.
Setting the Solution in Motion
After seeing the current strategies used by digibank, we realized that there were two main areas of focus: streamlining the registration funnel and improving marketing reach. Optimization was going to be key when trying to hit that 24,000 account target. By partnering with a premium publisher, we were able to connect with high-quality users that were specifically interested in financial products. That helped us keep costs low as we worked to streamline the conversion process. Expanding reach had to be our first priority, which is why premium publishers were a critical part of the success equation.
Delivering Real and Measurable Results
While this campaign will continue until the end of the year, preliminary results are promising. To date, we have hit a conversion rate of 24%, which is very high for a target action that involves opening a savings account. At the same time, we have managed spend on acquisition, keeping costs low. We have used strategic ad placement to keep the cost per registration number 56% below the target. We are confident that our performance will result in a long and beneficial partnership for YouAppi and digibank, Indonesia’s first paperless and branchless bank.