Icici Bank Brand Bytes 30 Oct 07
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ICICI BRANDBytes October’07 Savings Due to Consolidated Marketing Efforts
Product Credit Cards Personal Loans Home Loans LAP Home Search ICICI Pru Life ICICI Lombard ICICI Direct ICICI NRI Services (HL) Total
Previous CPL
Achieved CPL %age Savings
225 125 125 225 150 326 150 150 200
187 109 110 175 128 245 137 135 197
17 13 12 22 15 25 9 10 2
17
The average total monthly savings have been around Rs. 30 lakhs. This has been achieved primarily through :•
Consolidated buying across major portals which contributes to 50% of the total savings
•
Cross sell of ICICI Group offers at prospect stage delivers close to 10% of the savings
•
Multi-product offers within the same inventory.
•
Value-ads for increased visibility
ICICI Bank’s online marketing efforts have yielded almost permanent visibility across all portals in India. Achievements on the online space for some products have been highlighted below:
Digital Marketing for Credit Cards Objective: - To increase the volume of applications on the website Strategy: - High intensity presence across sites. Result: •
Better visibility over competition like Citibank Jet Airways Gold Card, and HDFC bank credit cards.
•
More than 20,000, 72 field application forms were completed on the ICICI Bank website per month.
ICICI PruLife Objectives: •
Generate 10, 000- 12,000 leads in a month; and to increase to 40,000 per month leads by Jan ‘08
•
Optimize unit lead cost between Rs. 200- 250
Strategy:•
The age group of 24yrs identified as a major potential contributor to the leads. This helped increase leads by 15%.
•
Experimentation with creative; like adaptations to product based creatives was done.
Result: •
The cost per lead was brought down by 80%.
•
More than 16000 leads were delivered in a period of 3 months.
•
Lead volumes now up from 3,000 per month (6 months ago) to 25,000 every month.
Home Loans Objectives: •
Generate 10, 000- 12,000 leads in a month; and to increase to 40,000 per month leads by Jan ‘08
•
Optimise unit lead cost between Rs. 200- 250
Strategy: •
Capture Attention through the creative: A maze puzzle was used, highlighting “the ease” of taking a Home Loan from ICICI Bank. Form based Banners where used, with creatives to catch attention immediately & lead them into filling the form.
•
The Landing Page had brief product information taking minimum time of user to fill the form. Loan Aggregator sites were asked to include all the mandatory
fields (as Java Script Coding) as the user shows interest in the product, leading to more quality leads Result: - The CPL dropped from 150 to 110 with volumes remaining the same.
The ICICI Direct Search marketing success Objective:
Achieve 100 Demat account leads at a cost per lead of Rs. 100 Drive traffic to the ICICI Direct website and increase visits by over 40% Solution:
Conceptualized 3 different landing pages to test the effectiveness of how our messaging and form works when the campaign goes LIVE Customized the messaging in an innovative way, by creating Ad copy
in Hindi and Gujarati targeting regional language users on Google
Result 1. CPC decreased by 20% 2. Site visits increased by 40% through key branding terms
PR Initiatives: “ICICI Introduces Top Safe Banking Tips over the Internet” Free online PR for safe banking was done in Aug/Sept 07 giving us visibility across 120 sites.
PRESS RELEASE
Videos Safe banking videos were uploaded on sites like Youtube, Metacafe and Yahoo giving us additional visibility at no cost.
Buying Initiatives Buying Strategy: - Online media is normally bought on a cost per thousand impressions (CPM) basis. However the ICICI Bank buys are done on a delivery/leads basis as opposed to CPM. This results in ICICI Bank getting thrice the exposure at the same cost. •Volume deals on Yahoo, Bharatmatrimony group, Web18 Group: - These sites are present in plans for all ICICI Bank products. Thus it makes sense to buy inventory at these locations in bulk. This ensures a preferential pricing for ICICI Bank products at the same time reserves inventory during peak season.
• Cost per lead deals on Rediff across products. The responsibility for the lead delivery lies with Rediff. So they make sure the exposure is high enough to deliver the leads. •
Converted part of ICICI Pru Life and LAP into a CPL deal on rediff
•
CPC deals for Credit cards on inventory & CPC based mailers.
•
Managed to get preferred and fixed rates on Yahoo in spite of fluctuations
•
Finance channel integration – value addition (Yahoo Finance)
Yahoo Finance – ICICI Bank Credit Cards
Score Sheet Top Finance sites:Based on Total unique visitors (thousands) in the months from Mar2007-August2007
Top banking sites: Based on number of unique visitors (thousands) in the months Mar07-Aug07
Source: - Comscore Mymetrix. September2007
comScore Media Metrix provides industry-leading Internet audience measurement services that report — with unmatched accuracy — details of online media usage, visitor demographics and online buying power for the home, work and university audiences across local U.S. markets and markets across the globe. With a panel size of 17000 users in India, *
comScore is the most trusted source of audience measurement in India.
Product Credit Cards Personal Loans Home Loans LAP Home Search ICICI Pru Life ICICI Lombard ICICI Direct ICICI NRI Services (HL) Total
Previous CPL
Achieved CPL %age Savings
225 125 125 225 150 326 150 150 200
187 109 110 175 128 245 137 135 197
17 13 12 22 15 25 9 10 2
17
The average total monthly savings have been around Rs. 30 lakhs. This has been achieved primarily through :•
Consolidated buying across major portals which contributes to 50% of the total savings
•
Cross sell of ICICI Group offers at prospect stage delivers close to 10% of the savings
•
Multi-product offers within the same inventory.
•
Value-ads for increased visibility
ICICI Bank’s online marketing efforts have yielded almost permanent visibility across all portals in India. Achievements on the online space for some products have been highlighted below:
Digital Marketing for Credit Cards Objective: - To increase the volume of applications on the website Strategy: - High intensity presence across sites. Result: •
Better visibility over competition like Citibank Jet Airways Gold Card, and HDFC bank credit cards.
•
More than 20,000, 72 field application forms were completed on the ICICI Bank website per month.
ICICI PruLife Objectives: •
Generate 10, 000- 12,000 leads in a month; and to increase to 40,000 per month leads by Jan ‘08
•
Optimize unit lead cost between Rs. 200- 250
Strategy:•
The age group of 24yrs identified as a major potential contributor to the leads. This helped increase leads by 15%.
•
Experimentation with creative; like adaptations to product based creatives was done.
Result: •
The cost per lead was brought down by 80%.
•
More than 16000 leads were delivered in a period of 3 months.
•
Lead volumes now up from 3,000 per month (6 months ago) to 25,000 every month.
Home Loans Objectives: •
Generate 10, 000- 12,000 leads in a month; and to increase to 40,000 per month leads by Jan ‘08
•
Optimise unit lead cost between Rs. 200- 250
Strategy: •
Capture Attention through the creative: A maze puzzle was used, highlighting “the ease” of taking a Home Loan from ICICI Bank. Form based Banners where used, with creatives to catch attention immediately & lead them into filling the form.
•
The Landing Page had brief product information taking minimum time of user to fill the form. Loan Aggregator sites were asked to include all the mandatory
fields (as Java Script Coding) as the user shows interest in the product, leading to more quality leads Result: - The CPL dropped from 150 to 110 with volumes remaining the same.
The ICICI Direct Search marketing success Objective:
Achieve 100 Demat account leads at a cost per lead of Rs. 100 Drive traffic to the ICICI Direct website and increase visits by over 40% Solution:
Conceptualized 3 different landing pages to test the effectiveness of how our messaging and form works when the campaign goes LIVE Customized the messaging in an innovative way, by creating Ad copy
in Hindi and Gujarati targeting regional language users on Google
Result 1. CPC decreased by 20% 2. Site visits increased by 40% through key branding terms
PR Initiatives: “ICICI Introduces Top Safe Banking Tips over the Internet” Free online PR for safe banking was done in Aug/Sept 07 giving us visibility across 120 sites.
PRESS RELEASE
Videos Safe banking videos were uploaded on sites like Youtube, Metacafe and Yahoo giving us additional visibility at no cost.
Buying Initiatives Buying Strategy: - Online media is normally bought on a cost per thousand impressions (CPM) basis. However the ICICI Bank buys are done on a delivery/leads basis as opposed to CPM. This results in ICICI Bank getting thrice the exposure at the same cost. •Volume deals on Yahoo, Bharatmatrimony group, Web18 Group: - These sites are present in plans for all ICICI Bank products. Thus it makes sense to buy inventory at these locations in bulk. This ensures a preferential pricing for ICICI Bank products at the same time reserves inventory during peak season.
• Cost per lead deals on Rediff across products. The responsibility for the lead delivery lies with Rediff. So they make sure the exposure is high enough to deliver the leads. •
Converted part of ICICI Pru Life and LAP into a CPL deal on rediff
•
CPC deals for Credit cards on inventory & CPC based mailers.
•
Managed to get preferred and fixed rates on Yahoo in spite of fluctuations
•
Finance channel integration – value addition (Yahoo Finance)
Yahoo Finance – ICICI Bank Credit Cards
Score Sheet Top Finance sites:Based on Total unique visitors (thousands) in the months from Mar2007-August2007
Top banking sites: Based on number of unique visitors (thousands) in the months Mar07-Aug07
Source: - Comscore Mymetrix. September2007
comScore Media Metrix provides industry-leading Internet audience measurement services that report — with unmatched accuracy — details of online media usage, visitor demographics and online buying power for the home, work and university audiences across local U.S. markets and markets across the globe. With a panel size of 17000 users in India, *
comScore is the most trusted source of audience measurement in India.
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