With the consumer loan market being highly competitive our client, an NBFC wanted to create a preference for his loan offering among target group of customers.
They briefed FOXBOX to develop a consumer promotion offer which can entice the customer to prefer their loan offering over their competitors.
However budget was a serious constrain since this was close to end of financial year clients budgets were almost exhausted.
Hence FOXBOX suggested a bundled discounted eVoucher Offer from top brands as a sales promotional offer. It curated around 20 offers from leading brands such as Croma, Titan, Myntra, Cult Fit, Fasoos, Kalyan, Makemytrip, NetMeds, Kaya etc.
Each brand offered some great offers like Croma 500 off on shopping worth Rs 5000. Fasoos gave flat Rs 50 off on orders worth Rs 300. Cult Fit had given 7 days free training pass etc
The total perceived value of these offers was almost Rs. 20000. And the cost to the company was in single digits.
The promotion was also executed by FOXBOX. It was end to end campaign management. It sent SMS with codes directly to customers mobile thus ensuring there is no leakage in delivery.
The campaign was a great success and almost 4 lac customers were connected over a period of 4 months.
The client repeated this program during AC season with a much better offer of Rs 50000 coupon booklet for its customers. This is equivalent to the product price itself. Not to mention it was a big hit again.