Kotak Mahindra, one of the leading banks in India, envisioned a unique way of keeping their customers engaged. Their idea was to build a platform where Kotak customers could avail the best offers across multiple categories to encourage purchases via Kotak payments, thereby increasing their active customer base.
To help Kotak in reaching out to its customers, ShopX helped in launching the Kotak Offers website and mobile application where users could find the best deals and offers. Based on the user’s current location, the platform showcased deals from the nearest stores or offers specifically applicable to the particular location.
With such convenience, Kotak was able to personalize its offerings and attract more customers for better returns.
For the next step, ShopX integrated all Kotak payments, including debit, credit and netbanking, to help customers purchase the offers. The ease in selecting and purchasing offers from the Kotak platform greatly improved customer satisfaction and saw a 4.5X increase in returning customers.
To maintain the flow of customers, ShopX provided all the tools that Kotak needed to attract the right customers. Using the customer geo-location, the platform was able to inform the customers about the best deals happening around them via push notifications. Also, Kotak used in-app notifications and email campaigns to notify soon-to-be expiring deals to encourage purchases.
Using the powerful ShopX platform, Kotak was able to segregate offers based on multiple categories such as food & beverage, clothing, retail, electronics and more. This helped customers to find offers easily and also helped Kotak in gathering useful insights. Kotak was able to identify which categories contributed most towards conversions, customer behavior and other sales insights. Using this data, Kotak was able to plan better and achieve more.