IDFC FIRST Bank achieves MoM growth of 314% in Account Opens in JFM 2022
IDFC First Bank wanted to scale its assisted conversions leading to active account opens at a sustainable cost.
Strategy & Execution
Skip Funding Introduction:
With many IDFC customers dropping off in the final conversion stages, we needed to identify the cause & optimize for it. A thorough analysis on Discovery & Search Campaigns revealed that instant payments was a major red flag. This insight helped IDFC launch a skip funding option which helped with the scale.
Enhanced Search Visibility & User Engagement:
We used Amitabh Bacchan's image in the Google Image Extensions that invoked an instant brand trust & the users started engaging 2X better.
Furthermore, creating non-identical UTM links for the landing page effectively increased the search real estate on SERP leading to 30% higher CTRs.
Introducing the skip funding feature to custom intent audiences on brand & generic keywords helped us ensure both scale & quality.
Through insights from Pmax, we identified high ranking competitor keywords & optimized our bids which resulted in 2X better audience reach on the landing page.
Integrating CRM with campaign data, enabled us to conduct razor-sharp targeting across different levers such as demographics, devices, keywords, etc.
By using the complimentary benefits of search, discovery & Pmax campaigns, we were able to overachieve acquisition targets for IDFC First Bank with 76% lower CACs.
MoM Growth in Account Opens
Lower Cost per Account Open
Increment in App Start to Account Open Ratio