Customer Story / Citibank
Rule-based hyper-personalization and retargeting on home page banner
Experiencing drop-offs during customer acquisition journeys is a common problem. Using behavioral data, we created personalized banners to significantly increase uplift and lead completion rates.
120% banner CTR lift on the loans products with 98% confidence.
281% banner CTR lift on the retail products with 100% confidence.
Challenge: Potential customers dropping off and not completing product and service application forms.
Citibank was experiencing a challenge with its website users dropping off during the customer journey. Despite having a good and diverse range of services and products and various application forms, users initiate these forms and applications but do not complete the process. This led to a loss of potential customers and revenue.
Solution: Create and test targeted hyper-personalized offers and banners in real time for improved engagement and conversions.
Together with Citibank we decided to analyze the behavior data of potential and anonymous customers to gain insights into why users were dropping off during the journey. We used Adobe Analytics to gain insights into user behavior and leveraged the data to build unique audience profiles.
By combining the behavioral data from Adobe Analytics with Citibank’s existing customer data, we created a robust audience segmentation strategy that could be activated via Adobe Target.
Using Adobe Target, we ran campaigns that showed personalized product banners to targeted audiences on their home page. By displaying tailored banners to these audiences, Citibank was able to attract more traffic to the product pages and significantly uplift the application and lead completion rates.
In summary, we reinvented the customer experience by leveraging hyper-personalization techniques that delivered highly relevant and personalized cross-channel content to customers.
To measure the effectiveness of the campaign, we analyzed pre- and post-campaign results using the Analytics for Target feature in Adobe Workspace. This allowed the team to understand the impact of the campaign on customer engagement and revenue and to share the test results with the business to inform future decision-making.
Results & Key Metrics:
120% banner CTR lift on the loans products with 98% confidence
281% banner CTR lift on the retail products with 100% confidence
240% banner CTR lift on the stocks and FX product with 100% confidence
250% banner CTR lift with 99% confidence and 541 annualized applications completed translating into S$127,750 annualized incremental revenue on new retail product
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