1. Fintech | Telco | SaaS | B2B

Equity Bank

Equity Bank, a leading financial institution, aimed to boost new account openings and increase app downloads to expand its customer base. The performance marketing strategy centered on generating high-quality leads and driving digital engagement through targeted online campaigns. This was achieved by leveraging Google Ads, paid social media advertising, and email marketing to reach potential customers and encourage them to open accounts and download the Equity Bank app. The approach focused on maximizing visibility, optimizing lead generation, and enhancing customer acquisition through data-driven insights and personalized communication.

The Challenge

1. Increase New Account Openings: Drive a higher number of new account openings by implementing targeted digital marketing campaigns that reach potential customers actively looking for financial services. Focus on lead generation strategies to attract high-quality prospects interested in Equity Bank’s offerings.

2. Boost App Downloads and User Engagement: Enhance the visibility and adoption of the Equity Bank app by encouraging downloads through targeted ads and promotional campaigns. Aim to engage new users and integrate the app into their daily banking activities.

3. Optimize Cost-Per-Acquisition (CPA) and Maximize ROI: Lower the cost-per-acquisition for new customers while maximizing return on investment (ROI) by refining ad targeting, bidding strategies, and creatives across Google Ads and social media platforms.

4. Improve Lead Conversion and Nurturing: Enhance lead nurturing processes to convert potential customers into new account holders. Utilize personalized email marketing and automated follow-up sequences to maintain engagement and guide prospects through the conversion funnel.

5. Expand Digital Reach and Brand Awareness: Increase digital reach and brand awareness by leveraging performance marketing tactics to ensure Equity Bank stands out in a competitive financial services market, attracting a broader audience of potential customers.

1. Google Ads and Universal App Campaigns (UAC):

Tactics

•Targeted Search Ads for High-Intent Keywords: Deployed Google Search campaigns focusing on high-intent keywords like “open a bank account,” “best banking app,” and “personal loan application.” These ads targeted users actively searching for financial services, aiming to drive both new account openings and app downloads.

•Dynamic Display Ads for Wider Reach: Implemented dynamic display ads across Google’s Display Network to attract potential customers with tailored messaging about Equity Bank’s offerings, such as zero-fee accounts, high-interest savings, and seamless digital banking services.

•Universal App Campaigns (UAC) to Drive App Downloads: Launched Universal App Campaigns (UAC) to promote the Equity Bank app across Google Search, Google Play, YouTube, and Display Network. Leveraged automated targeting and creative optimization to maximize app installs and user engagement.

•Smart Bidding Strategies to Optimize Cost-Per-Lead (CPL): Utilized smart bidding strategies, such as Target CPA (Cost-Per-Acquisition) and Maximize Conversions, to optimize ad spend and drive cost-efficient acquisition of new customers and app users.

2. Paid Social Media Advertising:

Tactics

•Engaging Social Ads for Lead Generation and App Promotion: Ran paid social media campaigns on platforms like Facebook, Instagram, and LinkedIn, targeting key demographics such as young professionals, small business owners, and tech-savvy consumers. Highlighted the benefits of Equity Bank’s digital services and app features to encourage lead generation and app downloads.

•Custom Audiences for Precision Targeting: Created custom audiences based on behaviors such as recent searches for financial products or visits to competitor websites. Developed ad creatives that showcased Equity Bank’s unique value propositions, such as lower fees, better interest rates, and digital convenience.

•Interactive Ad Formats for Higher Engagement: Utilized interactive ad formats, such as carousel ads and video ads, to engage users more effectively. Highlighted customer testimonials, app features, and special offers to drive engagement and prompt conversions.

3. Email Marketing Campaigns with SendGrid:

Tactics

•Lead Nurturing Email Campaigns: Developed personalized email campaigns using SendGrid to nurture leads generated from digital ads and website visits. Segmented email lists based on user behavior and engagement to deliver relevant content and incentives for opening an account or downloading the app.

•Automated Drip Campaigns to Maintain Engagement: Implemented automated drip campaigns to maintain engagement with potential customers. These emails included educational content about financial products, app usage tips, and exclusive offers to encourage conversions.

•Reactivation Emails for Inactive Leads: Designed reactivation email campaigns targeting leads who showed initial interest but did not convert. Offered special incentives, such as fee waivers or bonus rewards for app downloads, to re-engage these leads and drive action.

4. Website and App Optimization:

Tactics

•SEO Optimization for Local Search Dominance: Enhanced SEO efforts to boost Equity Bank’s visibility in local search results, targeting high-value keywords related to banking services and digital banking solutions. Optimized content, meta descriptions, and headers to improve organic rankings and attract more traffic.

•Optimized Landing Pages for Conversion: Created dedicated landing pages optimized for both desktop and mobile users to facilitate new account openings and app downloads. These pages featured clear calls-to-action (CTAs), concise messaging, and easy-to-fill forms to minimize drop-offs and increase conversion rates.

•Enhanced App Features to Boost Engagement: Integrated features within the app that encourage frequent use, such as budgeting tools, rewards programs, and personalized notifications. These enhancements aimed to improve user retention and satisfaction.

5. Continuous Optimization and Performance Monitoring:

Tactics

•Real-Time Analytics and Campaign Optimization: Set up comprehensive dashboards integrating data from Google Ads, social media platforms, and SendGrid to monitor key performance indicators (KPIs) such as lead conversion rates, app downloads, and email engagement. Used these insights to make real-time adjustments to optimize campaign performance.

•A/B Testing of Ads and Email Content: Conducted A/B testing on ad creatives, email subject lines, and landing page designs to identify the most effective elements for driving conversions. Continuously refined strategies based on test results to enhance performance and ROI.

•Data-Driven Audience Targeting and Segmentation: Leveraged data insights to refine audience targeting and segmentation, ensuring that marketing efforts were focused on the most responsive and high-value segments. This approach helped maximize the effectiveness of ad spend and improve lead quality.

1. Google Ads and Universal App Campaigns (UAC):

Results

•75% Increase in App Downloads: The targeted Google Ads and Universal App Campaigns led to a 75% increase in app downloads, significantly surpassing the initial targets and expanding the user base for Equity Bank’s digital services.

•30% Growth in New Account Openings: Optimized search and display campaigns drove a 30% growth in new account openings, successfully attracting high-quality leads who converted into new customers.

•Achieved Cost-Per-Install (CPI) of $1.40: Smart bidding strategies and targeted UAC efforts maintained a cost-per-install (CPI) of $1.40, demonstrating efficient use of the marketing budget while maximizing app installs.

2. Paid Social Media Advertising:

Results

•60% Increase in Engagement Rates: Paid social media campaigns achieved a 60% increase in engagement rates, with higher interaction levels on platforms like Facebook, Instagram, and LinkedIn. Users responded positively to ads promoting Equity Bank’s digital services and app features.

•45% Increase in Lead Conversions from Social Ads: Targeted social ads drove a 45% increase in lead conversions, significantly boosting the number of potential customers engaging with Equity Bank’s digital offerings and progressing towards account opening or app download.

•50% Boost in Ad Recall Rates: The use of interactive and engaging ad formats led to a 50% boost in ad recall rates, enhancing brand awareness and reinforcing Equity Bank’s market presence.

3. Email Marketing Campaigns with SendGrid:

Results

•70% Improvement in Email Open Rates: Personalized and targeted email campaigns using SendGrid saw a 70% improvement in open rates, indicating strong audience interest and effective segmentation strategies.

•35% Higher Click-Through Rates (CTR) for Lead Nurturing Emails: Automated drip and reactivation campaigns achieved a 35% higher CTR, effectively nurturing leads and guiding them through the customer journey to conversion.

•40% Increase in Conversion Rates from Email Campaigns: Lead nurturing and reactivation emails contributed to a 40% increase in conversion rates, turning more potential customers into new account holders and app users.

4. Website and App Optimization:

Results

•50% Reduction in Bounce Rates on Landing Pages: Optimized landing pages for new account openings and app downloads resulted in a 50% reduction in bounce rates, providing a more seamless user experience that encouraged conversions.

•65% Increase in Organic Traffic: SEO enhancements and content optimization efforts led to a 65% increase in organic traffic to Equity Bank’s website, driving more qualified visitors to explore digital banking solutions.

•Enhanced App Engagement and Retention: In-app features and enhancements led to a significant improvement in user retention and engagement, with a notable increase in daily active users and frequent app interactions.

5. Continuous Optimization and Performance Monitoring:

Results

•35% Increase in Return on Investment (ROI): Real-time performance monitoring and continuous optimization efforts, including A/B testing and audience segmentation, resulted in a 35% increase in overall ROI for digital marketing campaigns.

•40% Improvement in Cost-Per-Lead (CPL): Data-driven targeting and strategic adjustments lowered the cost-per-lead by 40%, ensuring more efficient acquisition of high-quality leads at a lower cost.

•Agile Marketing Execution: The integration of real-time analytics allowed for agile marketing execution, enabling quick adjustments to campaigns and sustained growth in new account openings and app downloads.

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