Problem
Individuals seeking to purchase pre-owned motor vehicles often encounter challenges, such as navigating competitive interest rates for loans and facing strict repayment options. These obstacles can create financial constraints and deter potential buyers from realizing their dream of owning a vehicle. Cooperative Bank addressed these challenges through a customer-centric approach that made vehicle ownership more accessible and affordable, enabling potential buyers to fulfill their automotive aspirations without financial constraints.
Objective
Create meaningful connections - Establishing genuine connections with individuals seeking car financing for second-hand vehicles.
Make car ownership dreams a reality - Facilitating the realization of customers' dreams of owning a car with compassion and empathy.
Inspire trust in Cooperative Bank - Encouraging the audience to view Cooperative Bank as their reliable financing partner.
Deliver high-quality leads - Obtaining leads of high quality to increase the likelihood of successful conversions.
Optimize costs - Efficiently managing the campaign budget to achieve lowest possible Cost Per Lead
Verticals- Automotive, Personal Finance, Credit, Debit, Loans, Co-op Consumer Banking & Financial News.
Age - individuals between 27 - 55 years
Interests and Behavior - Potential car buyers, Credit-conscious consumers, Budget-minded buyers
Execution
Cooperative Bank together with MediaPal, successfully innovated and came up with a new lead generation execution to help consumers easily access pre-owned motor vehicles at favorable interest rates with flexible repayment options.
One of the key aspects of the campaign was prioritizing simplicity, responsiveness, and user-friendliness, which helped to minimize customer touchpoints and reduce drop-offs. By optimizing the lead generation ads for various devices and channels, MediaPal ensured that the campaign reached potential customers across different platforms, enhancing accessibility and engagement.
Results
Total Leads acquired - 510 leads
Conversion Rate - 30%
Success
Out of 510 quality leads, we achieved a 30% conversion rate, resulting in individuals successfully acquiring car financing loans and purchasing pre-owned vehicles.
Impact
The consumers were connected with attractive pre-owned motor vehicle options at favorable interest rates and flexible repayment options. The consumers were also empowered to access reliable transportation solutions while ensuring a positive and efficient user experience at every stage of the journey.