Use Case
Customer Reactivation via Airtime Transactions
Client
Bank D (Leading Nigerian Retail Bank)
Objective
To drive transactions from customers who have been dormant for 6 months.
Business Need
Our client, a leading Nigerian Retail Bank, needed to improve the Account Funding Ratio for retail customers, by lifting the high-income earners out of dormancy.
Approach
- The profiles of the dormant customers were uploaded to the CDP, to generate demographic and behavioural data attributes on each of them.
- The customers were then segmented into groups with similar data attributes.
- A/B and Multivariate tests were carried out on each group, using offline marketing channels, to determine those which were most likely to convert under specific conditions and respond to different incentives from the Bank.
- The best performing groups were prioritized for the campaign, to further grow airtime transactions.
Outcome
- 2% conversion rate
- 70,460 transactions generated
- 86% airtime recharged
- 4.39 average transaction per customer
- 16,055 customers reactivated