Enhancing Credit Card Engagement with ReachRight Campaign

A leading financial bank sought to revitalize its credit card offerings through targeted customer engagement. With a competitive landscape and a focus on attracting tech-savvy millennials and urban professionals across top cities, the institution aimed to boost card acquisition and improve engagement rates while reducing lead generation costs.

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Their primary objective was to stand out in the crowded credit card space, focusing on younger demographics and urban professionals. To achieve this, they leveraged an innovative campaign to drive customer engagement.

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Campaign Strategy

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The institution partnered with the ReachRight campaign, utilizing RCS Business Messaging (RBM) to deliver a seamless customer experience. Key components included:

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• Targeted RCS Messaging: Rich, interactive creatives highlighted key credit card features like reward points, lounge access, and complimentary gadgets to appeal to the target audience.

• Data Recency: The campaign utilized updated user data, ensuring relevant and timely messaging for higher engagement.

• Tailored Outreach: Messages were sent to distinct audience segments based on card eligibility and delivered at optimal times to maximize impact.

• Continuous Optimization: Pre- and post-campaign analyses enabled ongoing adjustments, optimizing the campaign throughout its three-month duration.

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Key Products Utilized

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• RCS Business Messaging: This tool enabled the delivery of rich media content like carousels, action buttons, and branded messages directly to customers' native messaging apps.

• ReachRight (Re-targeting & Re-engagement): A powerful tool for re-targeting and re-engaging with audiences who showed interest in previous campaigns or were existing customers.

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Results

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The ReachRight campaign delivered impressive outcomes:

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• 4.09% Click-Through Rate (CTR): Over twice the average performance of traditional SMS campaigns.

• 120 Credit Cards Approved in One Month: Demonstrating the campaign's direct impact on customer acquisition.

• 10.5k Verified Leads: Reflecting high engagement and interest.

• 78% Reduction in Lead Generation Costs: Compared to previous SMS campaigns, highlighting the cost-effectiveness of the strategy.

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Conclusion

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The ReachRight campaign significantly improved customer engagement, lead generation, and credit card acquisition, helping the institution strengthen its position in the market. By leveraging RCS Business Messaging, they successfully connected with a younger, tech-savvy demographic, driving growth and boosting customer satisfaction.

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“Tanla’s ReachRight campaign was a strategic approach that showcased the potential of RCS Business Messaging. It contributed significantly to enhancing customer engagement and acquisition in the competitive credit card market.”

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— Chief Marketing Officer, Leading Financial Bank