The objective of this engagement was to market a new product to a new demographic digitally. The product was launched in 2012; It was meant to shift their customer base from lower middle class to urban middle middle class. It had to be positioned as an alternative to personal loans and credit cards.
For this engagement, the deliverables were – increasing product awareness, cross selling, customer retention, lead generation, improving the Digital Marketing ROI and to act as Proof of Concept for the new product’s pull in digital channels.
Solution
As part of finding the right approach, we re-segmented the target customers after analyzing the demographics and a thorough discussion with the domain experts on the client side. We also defined the 8 customer personas that were relevant to us and their interplay through multiple products.
We experimented with age and gender groups, locations, languages etc. and positioned the product to educate the customers and change mindsets. We also identified channels to target the low hanging fruits. All content that was created had to be in vernacular and in English.
Results
The engagement lead to 20000 leads, 5+ crore new customer loan value and 50000 fans on Facebook in 5 months.
Case Study: India’s Premium Gold Loan Finance Company
