iPROM used a multichannel strategy and behavioural targeting to drive 265% growth in the number of concluded term deposits for UniCredit Banka Slovenija.
Goals
- Provide information about the term deposit offering and acquiring new depositors
- Drive the opening of new bank accounts online
At the end of 2018, UniCredit Banka Slovenija began reviving the market for term deposits. After taking note of the economic growth, the bank came up with a term deposit strategy and designed its product. It offered a high interest rate that could be further improved by the consumer opening a bank account online. The challenge was to determine the most effective way for identifying customers with surplus funds and convincing them to invest them with the bank.
The target group included consumers with savings and parents of children who have already acquired housing and have unspent funds freely available. These users do not read or visit specific media outlets, so we used behavioural targeting offered by iPROM DMP (Data Management Platform) to address them. This ensured advertising messages reached the target group independently of any specific online media outlet. The condition was that a consumer matched the predefined target group.
We guided the future investors through all stages of the purchasing process. We moved from raising awareness with advanced and eye-catching ad formats and content marketing to search engine marketing and remarketing until the final purchase. To ensure the best results, advertising was optimized using iPROM Cloud to adjust the advertising frequency, media selection and budget allocation and to carry out A/B testing of creative solutions. The cross-device campaign achieved excellent results.
During the digital campaign, the number of newly concluded term deposits grew by 107%. A month after the campaign concluded, the growth was 265% (compared to the annual average). At the same time, the bank recorded 183% growth in the number of bank accounts opened online (compared to the annual average).
The digital campaign was a media and sales success. It combined a great product with highly accurate targeting and the right messages that reached the right users at the right time and in the right place.