New Malaysian government ruling only allow two credit cards from two banks caused an immediate decline in cards acquisition. Traditional acquisition efforts do not resonate well with consumers anymore; a new strategy was needed. Our strategy was to use online in a personal and relevant manner to acquire new credit cards. Performance-media, Waze and Groupon are growing trends in Malaysia and were leveraged with contextually relevant offers that enable consumers to apply for a credit card immediately.

Results

- Turn the declining -47% credit card application to a 254% growth

- Our combined efforts led to 19 times more applications

In Malaysia, Nielsen shopper studies classify Malaysians as bargain hunters looking for “mass-tige” brands. We leveraged on Groupon and its group buying deals that was storming the Malaysian online community with over 2.3 million subscriber base. We struck a 1st ever partnership with Groupon Malaysia by offering irresistible credit card sign-up deals for shoppers. We took the campaign through a new route through Waze, the fastest growing social GPS navigation application with over 1.5 million Malaysian users that further fueled the success of Standard Chartered Bank online card acquisition. Branded pins and media pop-ups directed drivers to great commuter deals and rebates with a call to action for online registration within Waze. Groupon and Waze allowed Standard Chartered Bank to contextually target different consumer segments based on their needs. Performance-based media buys also contributed significantly to the lead generation. Conversion tracking with re-marketing ensured optimum results.

Standard Chartered Bank reversed the downward trend of a declining -47% in cards acquisition to a growth of more than 250%. This effort resulted in 18.7 times more online registrations than before. In addition, cost per card acquisition was reduced by two thirds and the Groupon partnership alone generated over 3,000 sign-ups within a week.