BASIS CASE STUDY

ABOUT THE COMPANY & CHALLENGE

Despite the increasing professional empowerment of women, a mere 12% are reported to independently make market-driven decisions, as per the 2019 DSP Survey. This statistic underscores the need for strategic marketing initiatives to foster autonomy and influence among female consumers.

Basis, an exclusive financial platform tailored for women, empowers users to navigate complex finance topics with ease. With a curated network of financial experts, it offers insights on personal finance, insurance, mutual funds, and stocks.

Boasting a robust community of over 30,000 women, Basis is rapidly expanding its presence in the competitive Fintech landscape. Our strategic contributions have been instrumental in propelling Basis towards this remarkable growth trajectory.

Phase 1 involved the strategic introduction of a specialized product to an audience with limited financial acumen. In Phase 2, the focus shifted to scaling operations and optimizing the Install to Sign Up conversion rate on a broader scale.

EXECUTION STRATEGY

Our primary challenge was not merely onboarding women onto the platform but persuading them about the crucial role of financial management. To address this, we strategically categorized our audience into two age groups: 20-30 and 30+. Employing targeted marketing strategies, we tailored our communication to convey the significance of prioritizing financial planning. This approach aimed at not only engaging but also educating our target audience about the benefits of proactive financial management. Through these strategic initiatives, we successfully conveyed the importance of financial planning to our audience, fostering a deeper understanding and commitment to staying in control of their financial well-being.

Here's an example of a creative that highlighted the same achievement:

Our initiative yielded significant engagement, resulting in an enhanced click-through rate and a subsequent surge in app installs. Following the achievement of 10,000 members, our focus shifted to augmenting sign-ups and broadening the audience base.

Recognizing the necessity to cultivate trust and expand reach, we devised a funnel-based marketing approach. Initially, we directed new audiences to insightful blogs authored by the Basis team on topics such as "Guide to investing in Gold" and "How to pay your EMIs", thereby introducing them to the brand.

Subsequently, we employed retargeting strategies to prompt app installations among individuals who exhibited prolonged engagement with the blogs. Leveraging their familiarity with the brand, our messaging adopted a more direct approach, emphasizing the benefits of joining the Basis community. This tactic yielded remarkable results, boasting a staggering 56% conversion rate.

In tandem with the funnel strategy, our meme marketing initiative played a pivotal role in amplifying our efforts. Crafting relatable, trending memes garnered attention, leading to increased click-through rates and, ultimately, a surge in app installs.