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ICICI Bank

Client

ICICI Bank

Campaign

Lead Generation and Loan Disbursal.

Objective

To generate leads for ICICI Bank personal loans and help their call center agents convert those leads into sales.

Strategy

Communicate 2 built a campaign that was a long tail or long tails. Not only did we bid on keywords such as 'laptop', but also bid on keywords such as 'buy sony vaio tz.' Getting the lateral themes right was bang on target.

Details

Paid-search strategy in most of the emerging markets is quite different than most developed countries. In developed countries, one can close a transaction online however in emerging markets such as India even a loan transaction (in most cases) is closed through phone calls and sending feet on street for completing formalities and taking signatures of the person receiving the loan.

The other interesting challenge of running a search campaign in India is that a company get only 20% of the lead generation from direct keywords such as 'personal loans'. However, the same company will get 80% of leads from lateral themes such as 'buy laptop' or 'wedding venues Bombay.' All the ad copies were customized to the keywords, for example, if a person was searching for 'dell' we would offer a US $1,000 personal loan while if the search was for 'sony', we would offer a US $2,000 personal loan. Bear in mind, this campaign for personal loans rather than buying laptops. Even the landing pages were customized for any ad groups that generated more than 1,000 leads a month, not surprisingly, the laptop campaign did. Although Communicate 2 gets compensated on a CPL basis, the only way we can help our clients is by helping them get higher ROIs - these leads converting into loan disbursals.

This was done by training the call center agents to handle leads based on the keyword that generated the lead. For instance, if the lead was generated through a keyword 'quick loan,' the agent was trained to focus on speed of disbursal. Similarly, if the keyword was 'personal loan rates,' the agent was advised to focus on the competitive value of the offering.

Results

  • Due to the long-tail stratergy, the client was able to get 500% more leads than earlier.
  • As the ad copy was customized and the call center agents were handling calls based on keywords that generated the leads, the conversions ration increased by nearly 300%.
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