Infobip > Case Studies > GTBank's Digital Transformation: Over 200% ROI through Email Marketing and Analytics

GTBank's Digital Transformation: Over 200% ROI through Email Marketing and Analytics

Technology Category

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Finance & Insurance
Telecommunications

Applicable Functions

Sales & Marketing

Use Cases

Usage-Based Insurance

About The Customer

Founded in 1990, GTBank is the largest banking group in Nigeria and is widely recognized as an innovator in Africa. The bank has successfully rolled out a number of innovative products and currently operates a network of almost 300 branches, 17 Cash Centres, 18 e-branches, 41 GTExpress locations, and more than 1165 ATMs in Nigeria. GTBank’s vision is to make banking more seamless, easy, and user-friendly. Despite having a robust digital banking offering, the bank faced challenges in encouraging its customers to adopt digital channels for their banking needs.

The Challenge

GTBank, the largest banking group in Nigeria, faced a challenge in encouraging its customers to adopt digital banking channels. The bank's customers were accustomed to visiting the branch for all their needs and queries. GTBank aimed to reduce waiting times, optimize in-branch resources, and reduce queues by promoting the use of digital banking channels for most day-to-day account activities. Despite having a variety of innovative products and services, including a fully-fledged digital banking offering, the bank found it challenging to break old customer habits. Additionally, GTBank needed a comprehensive email marketing platform that would not only communicate with customers but also help them understand how customers were behaving after receiving these communications.

The Solution

GTBank partnered with Infobip to implement a powerful email communication solution with extensive analytical functionalities. This solution allowed GTBank to create rich, personalized emails that captured their customers’ attention. The easy-to-use interface made it simple to create communications that were hard to ignore and effectively conveyed key messages. GTBank systematically implemented a series of email campaigns to convert customers to preferred digital products. The platform’s advanced analytics capabilities allowed them to understand what worked and what didn’t, enabling them to fine-tune and optimize their campaigns to improve results. Campaigns included a customized email campaign to promote their Digital News Stand, a campaign to promote PayInstantly, and a B2B email burst to promote FlashToPay among merchants.

Operational Impact

The implementation of Infobip’s email solution led to a significant increase in the usage of GTBank's digital banking services and a reduction in branch visits. The Digital News Stand campaign resulted in a 160% growth in their customer base. The PayInstantly campaign achieved an ROI of more than 200%, and the FlashToPay merchant campaign achieved a 20% conversion rate. These campaigns also succeeded in reducing the overall customer branch visits, reducing waiting times and queues in banks, whilst simultaneously improving branch performance. Encouraged by the success of the email campaign, GTBank now plans to introduce additional communications channels to increase their customer engagement.

Quantitative Benefit