November to January is considered the NRI season for the banking sector when many prospective NRI customers make their trips back home and settle their finances here. Yes Bank wanted to use this opportunity to sweeten the deal for prospective NRI account holders who open new NRI banking accounts with them. The core objective being customer acquisition in this segment.
Given the target audience SEC B+, M/F, above 25 years of age NRIs who return home for an unknown duration of time and with an unknown schedule – we curated four rewards that could be availed globally as well as locally. It was a combination of two digital rewards and two experiential rewards which included a 6-month free Magzter subscription, a 6-month free subscription to Gaana Plus (online music), free cab rides and couple movie tickets. The new customers had the option to choose any one of the four rewards.
The campaign was run for three months and was an extended campaign from the previous year where we had done a similar activity for the same objective. The promotion was communicated online, at banking outlets, email, SMS and via display ads at airports, Indian brand outlets at duty free and various other touch points that this customer segment frequents.