Summary
Make the most of today's market. Invest Now! Volatile Market is often perceived to have negative implications. But in reality, you can enjoy positive benefits in every market situation. With change being the only constant in the market, consistency becomes the key element for investment. The same can be achieved simply with a SIP.
Challenge
To educate the Investors on the right time to start investing in Mutual Funds by Nippon India Mutual Funds' Real time Sensex Emailers.
Objective
Real Time Sensex Movement Campaign was planned with a focus to nudge investors to invest in Systematic Investment Plan of Nippon India Growth fund using a real time Dynamic emailer. The campaign was planned with an objective to increase overall business revenue and promote transactions in SIPs. Nippon India Mutual Fund wanted to increase engagement rates and transactions through its email campaigns sent out to All NIMF investors, they also wanted to eliminate the risk of Investors looking for the right time to invest in Systematic Investment plan. To reach the target audience the html needed to talk about investors enjoying positive benefits in market in every market situation which would nudge them to invest in SIP at the perfect time.
Strategy
Emailer used had Sensex data depicting market condition on a real time basis. The HTML for the emailer was developed using an API enabling the emailer to show real time market movement data to Investors of Nippon India Mutual Fund; thereby eliminating the risk of looking for the right time to invest in SIP and starting an investment plan. The Emailer also depicted certain value additions for Investors: Talking about enjoying positive benefits in market in every market situation, nudging investors to Invest in SIP and stating the advantages of Systematic Investment plan. Engaging Subject line was used: "Aim to benefit from all market conditions!" Subject line was catalyst in increasing the engagement rates on the email. The Campaign was planned and deployed when markets were "down", and it was a good time to invest for Investors. This campaign was deployed using Adobe Campaign Manager which is a robust marketing tool and industry recognised technology for email marketing campaigns. Deployment was done building a smart workflow as per Nippon India Mutual Fund's processes which excluded all the blacklisted Investors who did not wanted to receive the communication and reached out to only those investors who consented to receive email communications from NIMF. The campaign was smoothly deployed during market hours when markets were "down".
Data
The goal of the Real Time Sensex Movement Campaign was to encourage investors to use a real-time dynamic emailer to invest in the Nippon India Growth Fund's Systematic Investment Plan. The promotion was designed to encourage SIP transactions and boost total business revenue. The emailer that was used had real-time market conditions as represented by Sensex data. The emailer's HTML was created using an API, which allowed it to display real-time market movement data to Nippon India Mutual Fund investors. This removed the risk associated with waiting to start an investment plan and invest in SIPs. Additionally, the emailer illustrated some value enhancements for investors by addressing how to profit from the market in any circumstance, encouraging investors to enroll in SIPs, and outlining the benefits of systematic investment plans.
Solution
Results
• Open Rate for Real Time Sensex Campaign: 20.6% • Open Rate of Regular Campaigns: 8% • Increase in Open rate: 157.5% • Total conversions from the campaign: 7711 • SIP revenue from campaigns: ~INR 17 CR. The Campaign garnered an engagement rate (open rate) of 20.6% which is a 157.5% increase from regular campaigns where open rate is 8%. The overall SIP revenue from the campaign was ~INR 17 CR.
