The Challenge

Krungthai Bank identified two critical challenges amidst the COVID-19 pandemic:

1. Targeting Qualified Customers: How to identify and reach potential customers who demonstrated genuine interest in loans, possessed the ability to repay, and had no credit issues.
2. Streamlining Loan Applications: Simplifying the loan application process to eliminate traditional barriers and attract new customers through digital channels.

The Solution

Krungthai Bank and iProspect Thailand implemented a comprehensive solution to address the challenges:

1. Audience Segmentation Strategy:
   • SEE: Targeting audiences interested in loans through high-value paid media campaigns on platforms like Facebook and Google Display Network (GDN) to increase awareness.
   • THINK: Optimizing SEM and retargeting on Facebook and Google GDN with personalized content to enhance interest and intent among potential borrowers.

• DO: Implementing lead generation optimizations to convert potential borrowers into warm leads during the application process.
  • CARE: Targeting existing customers for cross-selling opportunities and re-engaging inactive customers to optimize consideration and retention.

3. Data Integration and Personalization:

• Leveraging Analytic 360, Krungthai Bank optimized its landing pages and app experiences for specific target segments, enhancing user engagement and conversion rates.
• Implementing SEM with personalized text ads to further drive engagement and conversions.

4. SEO and Content Strategy:

• Ensuring top rankings on Google with 141% of core keywords and achieving visibility for new generic keywords on the first page, supported by high-quality blog content and organic search optimization.

Results

The results of Krungthai Bank’s digital transformation were impressive, validating the efficacy of their strategies:

• Conversion Rate: Increased by 227% within five months of launching the new campaign, indicating improved engagement and application submissions.
• Cost Efficiency: Cost per loan application decreased by 29.71%, optimizing budget utilization and improving overall ROI.
• User Engagement: Enhanced landing page personalization led to increased time spent by consumers and a high average click-through rate (CTR) of 6.66% to the app.
• SEO and SEM Success: Achieved top rankings with 141% of core keywords in the top 5 positions on Google and new generic keywords appearing on the first page, demonstrating strong organic search visibility.
• Audience Segmentation Effectiveness: Lowered Cost Per Acquisition (CPA) through effective SEM audience segmentation, underscoring the value of targeted advertising in enhancing campaign performance.