Vartheta decreases customer acquisition cost for a bank using a social media strategy A bank utilizes social media to acquire most customers.
The customer acquisition cost for a new online bank was very high since most customers needed to switch their existing bank provider in order, which required a substantial amount of time and effort. A solution was needed in order to reduce the customer acquisition cost by the online bank.
Vartheta’s approach was to setup a conversion strategy for Facebook PPC campaigns which promoted the online banking through social media influencers and public relations. The company proposed many innovative methods including cross-device marketing and customer segmentation marketing
Through a combination of social media channels including Facebook, Instagram, and Twitter, the bank was able to gain an increase perception towards online banking Millennial consumers which increased its conversion rates by 15% and reduces its customer acquisition cost by 24%.
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