Advertiser: Maybank Group Brand: Maybank SME Creative Agency: - Credits: -
Banks find SmallMediumEnterprises (SMEs) one of the hardest segments to grow. Maybank wanted to grow its SME loans.
Insight, Strategy and the Idea
Small business community finds it hard to gain bank loan, due to its trifling business size. However, this community needs a bank that can offer good access; fast loan processing time; innovative yet hassle-free product, in order to help them grow. The economy downturn has added pressure to this community. STRATEGY & IDEA: Maybank reset its business strategy. Maybank expanded its business offering to now include Micro-financing. We therefore reset our media strategy. We devised a multi-pronged, hard-working campaign to capture conversion (leads), consumer flow (peak points vs drop-off points), Re-targeting (Cross-sell strategy of other SME products), and Media Attribution (winning events measuring website where our ad was first seen by user, before signing up from another website).
Targeted Media for business conversion:
• Gmail advertising: SMEs often use free business infrastructure as such. We target audiences who receive e-mails from business related websites, e-commerce websites, and those who deal with Maybank’s competitors.
• Facebook, Twitter: SMEs interest targeting, Entrepreneurship fans.
• Programmatic buy, with 3 layers of re-targeting strategy: first on same product but completely different messaging, second and third for cross-selling.
• Cross screen arbitrage: Between desktop (higher conversion, high cost) and mobile (lower conversion, low media cost).
• Lead form: Because Maybank’s website does not have Chinese language, we built an external lead form for those signing up via Chinese ad copy. A majority of SME owners are Chinese.
• Shifting budget to “under-used” Gmail advertising, following high contribution of sign-up from the “Winning Events” Media Attribution report. This boosted optimization significantly.
Results and Effectiveness
• Amazing 60.3million eyeballs reached in 6 months.
• Contributed to 41% growth rate in RetailSMEs Loan, the record highest in Maybank’s history, exceeding RM20billion by end 2015.
• Re-targeting contributed to 14% growth in SME Deposit (cross-sell).
• A high 4% conversion rate for leads sign-up.