- The problem
- IndusInd loses potential card customers: rejections aren’t explained, eligibility is unclear and partner benefits are poorly communicated.
- What I did
- Mapped the current acquisition journey and analysed the target market, competitors (HDFC, ICICI, Axis, IDFC, Kotak) and value proposition.
- Outcome
- Funnel fixes — website, a shorter application, personalised offers, better support — and the metrics to track them: conversion, NPS and offer-to-opt-in.
Read the report as text
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Revamping the User Acquisition Journey for IndusInd Bank Credit Cards
Product Case Study
Current User Acquisition Journey Challenges and Pain Points
High chance of losing potential customers by the fact that they are not told the reason for their credit card rejection. Some potential customers are turned off by the fact that they are not eligible for all of the credit cards that are advertised. Some potential customers are not aware of the all benefits and partnerships that IndusInd Bank has with other partners brands.
IndusInd Bank advertises its credit cards on a variety of channels, including television, print, digital, and social media. The ads target potential customers who are interested in rewards, travel, or other benefits that IndusInd credit cards offer. Potential customers can learn more about the cards through the bank's website or by calling the customer service number. The website provides detailed information about the different types of credit cards that IndusInd Bank offers, as well as the benefits of each card. Applying happens through IndusEasyCredit website in a completely seamless, paperless, and digital manner. The customer service number is available 24/7 to answer any
questions that potential customers may have.
Target Market Analysis
The target market for IndusInd Bank credit cards includes people who are 21 years of age or older, have a monthly income of ₹20,000 or more, and have a good CIBIL score. The target market is also interested in rewards, travel, and other benefits that IndusInd credit cards offer.
Competitor Analysis
IndusInd Bank's main competitors include HDFC Bank, ICICI Bank, Axis Bank, IDFC and Kotak Mahindra Bank. These banks offer similar products and services to IndusInd Bank, and they have a strong brand presence in the Indian market.
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Value Proposition
IndusInd Bank's unique value proposition includes its rewards that never expire, its fuel surcharge waiver, and its zero liability protection.
Funnel Improvements
Website optimisation: The IndusInd Bank website can be optimised to make it easier for potential customers to find the information they need by improving the website's search functionality, making the credit card comparison tool more user-friendly, and providing more detailed information about the different credit cards that are offered. Streamlining the application process: The application process for an IndusInd Bank credit card can be streamlined to make it easier for potential customers to apply by reducing the number of steps in the application process, making the application form more user-friendly, and providing more real-time feedback to applicants. Personalised offers and recommendations: IndusInd Bank can use data about potential customers' interests and demographics to personalise their offers and recommendations.
Improved customer support: IndusInd Bank can improve customer support by providing more timely and helpful responses to customer inquiries.
Major Metrics
Website traffic: This metric measures the number of visitors to the IndusInd Bank website. Conversion rate: This metric measures the percentage of website visitors who apply for a credit card. Customer satisfaction: This metric measures the level of satisfaction of customers with the revamped user acquisition journey. Net promoter score (NPS): This metric measures the likelihood of customers recommending IndusInd Bank credit cards to others. Offer-to-opt-in ratio: This metric measures the percentage of website visitors who see an offer for an IndusInd Bank credit card and then opt in to receive more information about the card.