Why is this work relevant for Direct?

RCBC Every Step of the Way demonstrated how data can be used to develop strategic thinking, guide creative ideation, power implementation, and optimize performance. Insights around new consumer behavior in the new normal and their motivations for online banking were central to creating a personalized approach - one that allowed RCBC to identify distinct personas and to contextualize the RCBC Online banking experience. A combination of these data points were fed into Roxy, Entropia’s proprietary engine that enables hyper-personalized messaging. A/B testing and data tracking were done to ensure the campaign was at an optimal level

Background

RCBC wanted to launch its new and improved RCBC Online Banking Retail app (ROR) with an end view of generating more enrollments among existing clients. Business Objective: To generate at least 15,000 new account enrollments via the new ROR app. Marketing Objective: Transform branch-banking Filipinos to digital financial consumers, fully embracing a more convenient way to do their banking transactions

Describe the creative idea (30% of vote)

With their clients facing uncertainty and having personal apprehensions to online banking, RCBC used hyper-personalization to give their clients the confidence to continue banking with their widest range of online products and services. This anchored RCBC’s communications: that amidst ever-changing times, RCBC will provide them the right product and service that can help address their banking needs. A custom visual-copy structure was created to develop different permutations using the formula: Persona x Pain Point x Relevant Online Banking Feature. This served as the logic tree that powered Entropia’s personalization engine, Roxy, to automate the development of over 300 ads in real time. Through hyper-personalization, RCBC communicated to their clients that no matter what challenge they were facing, RCBC will always be ready to provide solutions to help them move forward with their banking needs.

Describe the strategy (20% of vote)

While most banks highlighted their products and services, RCBC focused on being relevant by hyper-personalizing the communication to the unique needs of our customers. Based on clients’ lifestyle and motivations for online banking, distinctive personas were identified: Jumpy Jack - Easy-going and lives in the moment Hustlin’ Harry - Business-minded Stacy the OC - Detail oriented Huh? Harold - Carefree Winnie The Breadwinner - On-the-go and the Problem Solver RCBC took it a step further, making sure that the product and service highlighted and how it is communicated is contextualized based on each individual’s COVID pain points and barriers. This allowed RCBC to not only communicate the benefit of each online banking service, but encourage downloads or use of the RCBC Online Banking app so they can personally experience the value they can provide them. The CTA button also adapted based on how customers interact with the ads.

Describe the execution (20% of vote)

To make the services relevant, RCBC anchored their communications based on their customers’ pandemic pain points and demonstrated the right product and service that can help them fulfill their banking needs. RCBC went from addressing the simplest pain points like sending money to your loved ones remotely, to more complex situations like sending cash support to employees without bank accounts. As a result more than 300 personalized ads were created in real time using Roxy, Entropia’s proprietary engine that allows personalization-at-scale. To raise awareness on RCBC’s commitment to helping customers move forward despite the pandemic, we also released an online film titled ‘What now?’ Through this campaign, we connected with customers in a more personal way – sending the message that whatever banking challenges you may face, RCBC will provide a solution to help you move forward, every step of the way.

List the results (30% of vote)

Generated 20,000 enrollments, exceeding the total campaign target by 25% in the first 2 weeks of the 3-month campaign. 219% increase in RCBC Online Banking app enrollments in just 3 months. 1400% reduction of Cost Per Enrollment – the most efficient achieved by RCBC Online Banking 108% increase in Online Transactions 8.89% Engagement Rate versus 1.5% industry benchmarks 27.7% completion rate of the online film across all social platforms More than 2,000 increase in YouTube subscribers

Please tell us how disruption in your market place inspired the work

RCBC Every Step of the Way demonstrated how data can be used to develop strategic thinking, guide creative ideation, power implementation, and optimize performance. Insights around new consumer behavior in the new normal and their motivations for online banking were central to creating a personalized approach - one that allowed RCBC to identify distinct personas and to contextualize the RCBC Online banking experience. A combination of these data points were fed into Roxy, Entropia’s proprietary engine that enables hyper-personalized messaging. A continued test and learn process was implemented to ensure the campaign was at an optimal level. Depending on a customer’s interaction and to ensure they were matched with a relevant solution, the barrier and product communicated, as well as CTA used, adapted accordingly. This way, RCBC was able to connect with its customers in a more personal way, effectively improving overall cost per enrollment achieved.