Campaigns reminding customers about opening new savings accounts

Challenge

A large retail bank noticed that many potential customers were starting the process of opening a new savings account online but not completing it. 

The bank decided to find a way to reach these potential customers with personalized reminder campaigns and encourage them to complete the account opening process.

Action

1. Data collection
   The bank began collecting data on user activity on the website and in the app, especially data related to interactions with the savings account section. The key was to identify which users had started the account opening process but had not reached the final step.
2.  Contact segmentation
   Users were divided into segments. The criteria for division included:
   
   1. Stage of abandoning the process: e.g., they only visited the website, started filling out the form, but did not complete it.
   2. Type of savings account: e.g., daily capitalization account, account for a specific purpose (e.g., vacation), account for children.
   3. Activity on the website: whether the user spent a lot of time on the offer page or returned to it several times.
3. Sending personalized messages
   The bank launched a series of automated reminder campaigns. Messages were sent to people who had shown interest but had not opened an account. The campaigns included emails with a simple message, “Complete your account opening,” and a direct link to the form, along with information about key benefits.

Results

• The number of savings accounts opened increased by 23% compared to the period before the campaign was implemented.
• Retargeting email campaigns and push notifications contributed to a 15% increase in the average first deposit amount.
• The click-through rate of links in reminder campaigns increased by 17% compared to general product ads.
• The number of requests for help in completing the process decreased by 12%, which reduced the workload of the bank's hotline.