Discover how ADA implemented a full-funnel digital strategy to boost engagement and reduce acquisition costs for OCBC Malaysia.
OCBC Malaysia aimed to increase new-to-bank (NTB) account openings through the OCBC 360 Savings Account by deploying a comprehensive digital marketing campaign. The aim was to engage potential customers across all stages of the funnel, from awareness to conversion, and to enhance engagement with the OCBC Mobile Banking app.
Results
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Problem Statement
OCBC faced the challenge of acquiring new customers in a competitive banking environment while efficiently managing ad spend. With rising digital ad costs, they needed a campaign that could optimise engagement and conversion rates without excessive budget increases.
Insights
Millennials: Targeted based on financial habits and digital engagement.
- Consumer Behaviour: Focused on individuals with interests in banking and personal finance.
- Affluent Segment: Targeted high-income users more likely to engage in savings and investment.
- Malay-Focused: Tailored creatives for Malay-speaking audiences.
- Interest-Based Segments: Included small business owners and those interested in personal finance.
Strategy
Over two months, OCBC implemented a robust digital strategy across Google and Meta platforms, emphasising real-time optimisations to improve performance and meet acquisition goals.
- Focused on maximising impressions and reach to introduce the OCBC 360 Savings Account to a broad audience.
- Aimed to drive landing page views and clicks, encouraging users to learn more about account benefits.
- Prioritised actions like online applications, app installs, and in-app engagement to convert high-intent users.
Execution
The campaign focused on three main stages:
- Awareness: Generating impressions and reach through high-visibility ads.
- Consideration: Driving landing page views and engagement with OCBC’s offerings.
- Conversion: Converting high-intent users via online applications and app installs.
Key tactics included:
- Pausing underperforming ads and non-converting audiences.
- Utilising CRM-based lookalike audiences to refine targeting.
- Adjusting budgets based on ad performance to ensure efficient use of resources.
