Summary
Embarking on your wealth creation journey is now as easy as using a calculator! Nippon India Mutual Fund's simplified SIP calculator makes planning for your financial goals a breeze. With just a few clicks, you can chart your path to financial success. Start by entering your desired monthly SIP amount, investment tenure, and expected return rate. The calculator will then provide you with an estimated future corpus, helping you visualize the power of long-term investing.
Challenge
Promoting SIPs is a huge organizational mandate within Nippon India Mutual Fund as we strongly believe that a systematic, disciplined and planned approach to investments is the route to long term wealth creation. We wanted to get our investors interested in the SIP mode of investments by giving them a glimpse into their financial future if they adopted the SIP route of investments. Our Objective were to enhance the SIP investment among the investors and assist them in achieving their financial stability through SIP calculations in line with their goals.
Objective
We created and integrated an interactive, dynamic SIP returns calculator into the email message itself in order to accomplish this objective. The investors were able to view the results of their Total SIP Returns and switch between the calculator's fields while remaining in the email thanks to this sophisticated and dynamic interface. At the conclusion of the mailer, we included a call to action (CTA) that directed the investor to their unique SIP link for the Nippon India Small Cap Fund. The campaign's success factors would be evaluated using the following metrics: 1. Overall Engagement Rate/Open Rate 2. Use of the SIP Returns Calculator 3. Conversions from SIP 4. Revenue from SIP
Strategy
Tool Upgrade: The Adobe Campaign Manager build was upgraded to support AMP Email Campaigns AMP Technology: The SIP Returns Calculator Creative was built using AMP technology which made it Interactive and Dynamic. With the calculator in the email itself, an investor could calculate his SIP Returns in the Email itself without being redirected to a new page. Creative HTML: The creative HTML was built to support formulas for calculating SIP Returns for each dynamic input value. Range Sliders: In order to enhance the user experience, range sliders were integrated in the design where the investor could select the 3 input values viz Monthly SIP investment amount, Time Period and Expected Rate of Returns by just moving the respective range slider. This design eliminated the need to type any input value thus enhancing user experience. 3 Key Output Values: By selecting the 3 input values viz Monthly SIP investment amount, Time Period and Expected Rate of Returns, the SIP Returns Calculator would automatically calculate 3 key output values i.e. • Invested Amount • Estimated Returns • Total Value of Investments Personalization: Personalized and pre-populated SIP links for each investor was created wherein they would be able to start an SIP in Nippon India Small Cap Fund in just 2 clicks!
Data
This campaign was sent out to All NIMF Direct and Non-Direct Investor base individuals of Nippon India Mutual Fund.
Solution
Tool Upgrade: The Adobe Campaign Manager build was upgraded to support AMP Email Campaigns AMP Technology: The SIP Returns Calculator Creative was built using AMP technology which made it Interactive and Dynamic. With the calculator in the email itself, an investor could calculate his SIP Returns in the Email itself without being redirected to a new page. Creative HTML: The creative HTML was built to support formulas for calculating SIP Returns for each dynamic input value. Range Sliders: In order to enhance the user experience, range sliders were integrated in the design where the investor could select the 3 input values viz Monthly SIP investment amount, Time Period and Expected Rate of Returns by just moving the respective range slider. This design eliminated the need to type any input value thus enhancing user experience. 3 Key Output Values: By selecting the 3 input values viz Monthly SIP investment amount, Time Period and Expected Rate of Returns, the SIP Returns Calculator would automatically calculate 3 key output values i.e. • Invested Amount • Estimated Returns • Total Value of Investments
Results
• Open rate of the campaign: 18% • Open rate of regular campaigns: 8% • Increase in Open rate: 125% • SIP Calculator Usage: 30% of campaign openers • Total Transactions attributed to Campaign: 2,543 transactions. • Corresponding Revenue: 2 Crore INR
