BFSI

The Challenges:

BankBazaar employs email marketing to connect with its customer database and urge them to opt-in for its services. To re-engage its inactive database and encourage them to explore the wide range of offerings provided by BankBazaar, it utilizes partner services through five distinct sub-domains.

Clients have encountered the following challenges:

To enhance the level of interaction in email marketing campaigns targeted at inactive audiences while maintaining vital inbox placement and other benchmarks associated with email marketing.

CURRENT STATS – 1 Quarter

Volume Sent: 50M (16M per Month) Inboxing: 91.5% Open rate: 19% 

TARGET STATS – Subsequent Quarter 

Volume Sent: 78M (26M per month) Inboxing: 91.5% Open rate: 30% 

Kenscio presented the following solutions for the campaign:

To enhance customer engagement, the Agency and Client teams collaborated on various aspects:

CREATIVES: Multiple creatives were developed and tested for each campaign to ensure optimal performance in terms of deliverability and engagement.

TARGETING STRATEGY: 

• A strategic plan was devised to target specific segments daily, including active and inactive users and new users to the domain. The aim was to increase the daily throughput of the new user database.
• AB testing was conducted to experiment with different creatives and target segments.
• Based on previous engagements, the best-performing creatives were deployed to maximize return on investment.

During Deployment: Live campaigns were continuously monitored and optimized to improve deliverability and engagement.

Results

Moreover, Kenscio addressed spam issues targeting ESPs, as well as concerns regarding blocking and blacklisting.

Campaign Metrics

• Email deliverability – 92%
• Email volumes sent – 79M 
• Email open rates – 43%
• Active database users – 39%
• Email Customer Retention – 99%

Top performing Campaigns 

Subject Line: 7 Credit Card Excuses That Would Make Even Pinocchio Blush! 

• Volume Sent – 1M+
• Email Deliverability – 92%
• Email Open Rate – 54.09%
• Spam and Bounce rate – 0%

Conclusion 

This case study illustrates how strategic planning, efficient execution, continuous monitoring, and campaign optimization can overcome hurdles and improve email deliverability and open rates.