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IDFC FIRST Bank leverages a blend of social mediums to drive 575% Incremental Account Opens​

Objective

IDFC FIRST Bank is one of India's leading banks. Their goal was to boost Savings Account Opens through Social Media Marketing at minimal costs. 

Approach

  • The aim was to build IDFC FIRST Bank's comprehensive presence across social mediums. Our initial focus was on Facebook and gradually expanded to Instagram and LinkedIn.​

  • We adopted a full-funnel approach on META to acquire new users and scale account opens. While the focus was on driving conversions (digital Account Opens), traffic and branding campaigns were run extensively to strengthen the upper funnel. ​

  • We identified new audience cohorts basis interest buckets and gradually extended the reach to similar affinity & lookalike audiences. Hence, we strengthen the upper and mid funnel by acquiring more customers. ​

  • In the META space, we identified the sweet spots for ad placement and deployed independent campaigns to leverage positioning for higher engagements.​

  • For enhancing customer engagement, we introduced Instagram centric campaigns that focused on top performing placements – Reels and Stories. This activity gave the branding campaigns a significant boost amongst youngsters. ​

  • To enhance user experience, we utilized various renditions of the creatives, and personalized remarketing campaigns through DCO. ​

  • With strategic audience targeting & Social campaigns, we  overachieved Saving account open targets for IDFC FIRST Bank at 43% lower Cost Per Account Open.

Testimonial

“Merkle Sokrati’s social campaign is a proven success with strong business results. IDFC FIRST Bank is always keen on experimenting with new and innovative ways to engage with customers and curate services and offers to better support their financial needs. Sokrati’s enhanced 360° Social approach scaled our campaigns and gave a significant boost to our “Always You First” approach. Their strategic META campaigns gave an incremental hike to our digital savings account opens and helped us lower CPA.”

Mohit Desai

SVP & Head - Digital Marketing, IDFC FIRST Bank

Results

  • Traffic and Branding campaigns delivered 37% incremental traffic thus strengthening the upper funnel.​

  • Instagram campaigns solely contributed to 23% of Account Opens in a month.​

  • The blend of mediums provided us enough flexibility with campaigns to achieve month-on-month incremental account opens and 4x scalability.​

575%

Incremental Account Open

43%

Lower Cost / Account Opens

Discover how we did it. Contact us today.

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