DenizBank

The Objective

Turkey has adopted video identification as primary method during digital onboarding by banks since May 2021. The new regulation enables banks to identify real persons via video communication to be held between the customer and, the bank employee.

Accessing banking services and acquiring new customers remotely by digital onboarding was a big step for the Turkish banking industry. Besides providing end to end and personalized customer experience, it also decreases dependency on branches and therefore improves customer experience. DenizBank focuses on the strategic importance of digital onboarding and is dedicated on designing the best experience for their customers with all our business lines.

DenizBank planned a new campaign for newly acquired customers for the digital onboarding process. The campaign goes as following: When a new user becomes a DenizBank customer for the first time from their mobile apps, customers are eligible to use up to 5000 cash advances with installment at a 0% interest rate.

DenizBank decided to use TikTok as one of their main channels for the customer acquisition campaign to leverage TikTok advertising solutions, run performance-driven campaigns with the lowest cost-per-acquisition possible and reach the relevant users.

The Solution

Running revenue-oriented banking campaigns requires out-of-box solutions in order to get results from performance marketing campaigns. Strict regulations, high market saturation, and slow purchase decision products make it difficult to run ads with strict revenue margins daily.

Leveraging creators are the easiest way to run performance-driven campaigns on TikTok because they know their audience better than anyone else and speak TikTok’s language.

DenizBank wanted to test the performance of the app install with the app event optimization touch, using creator-led videos more compared to brand-led videos. For the first time, they used three FinTokers to explain the campaign thoroughly. They also benefited from the repurposed brand-led creatives that was crafted only for TikTok.

Using contents working with a Tiktok creator, DenizBank showed the benefits of their cash advance campaign through real-life scenario and creator-led expression of the digital onboarding process. The creative and Tiktok’s sound-on environment allowed DenizBank to catch users’ attention with a compelling story telling execution of the campaign by delivering the key messages early with a concise call to action and how-to at the end of the video.

The Results

Leveraging app-event-optimization TikTok ads solutions with performance-driven creator content, DenizBank led new-to-the-bank customer acquisitions in numbers and improved their market share in the competition in August.

In August, DenizBank acquired 150.000 customers from the digital onboarding process. 26% of these customers originated from TikTok ads. Compared the previous digital onboarding campaigns on TikTok, they increased conversation rate by 2x and reduced the cost-per-acquisition by 52%

This campaign showed us that TikTok has the power of delivering cost-efficient results for the retail bank with the power of its very own finance creators and matching it with the right ads solutions.