The Power of Localization: Boosting Conversions in BFSI by 55%
Boost in conversion rates
Decrease in dependency on developers
Overview
In the heart of India's bustling streets and serene landscapes lies a challenge as complex as the country itself—connecting with a populace that speaks over 22 officially recognized languages. This diversity isn't just cultural; it permeates every aspect of daily life, including how people interact with financial services.
The BFSI sector, a backbone of the Indian economy, faces a monumental challenge of catering to an array of linguistic preferences, connecting with the audience at a personal level is not just goals, but necessities for success.
In the digital era, capturing a user's attention within seconds is crucial, especially in the BFSI sector, where the decision to click 'continue' can hinge on the smallest details. This is the story of how one of India’s largest BFSI players turned a simple insight into a groundbreaking strategy, achieving a staggering 55% increase in conversions. Simply, by creating vernacular landing pages with help of Fibr.
About the client
Our client is a leading health insurance provider in India, known for its wide range of health insurance products and services. With a focus on consumer satisfaction, the company has built a reputation for offering innovative solutions tailored to meet the diverse needs of its consumers.
As a key player in the health insurance sector, the organization is committed to ensuring the well-being of its policyholders, providing them with the security and support they need for their healthcare needs.
The Challenge: Reaching every consumer
Despite a robust online presence, their conversion rates were not reflecting the potential of India's vast market. They noticed a significant drop-off rate on their English-only landing pages, particularly in regions with a diverse linguistic background. They realized they had to change their “one-size-fits-all approach” to make their services more accessible and relatable to a broader audience.
In a country as diverse as India, reaching out to every customer in their language is not just important, it's essential. They realized that to boost their conversions, they needed to connect with their audience on a personal level. Vernacular landing pages seemed like the perfect solution, but the journey was fraught with challenges.
The Attempt: Navigating the maze
Our client's attempt to create vernacular landing pages was fraught with challenges. The technical complexity of creating multilingual landing pages was overwhelming, requiring constant support from the tech team even for minor changes, leading to delays.
As the number of languages and pages increased, scalability issues emerged, making the system harder to manage. Designing a user interface that catered to different languages and scripts without compromising on user experience was a daunting task.
Moreover, the entire process was resource-intensive, requiring a significant investment of time, effort, and money.
Fibr Steps In: Tailoring solutions for multilingual success
Frustrated with the limitations, the organization discovered Fibr, the AI-native web personalization platform that promised to turn the tide.
When they approached Fibr, their primary goal was to overcome the technical and scalability challenges of creating vernacular landing pages.
The integration was swift, taking mere minutes, and required no technical expertise—a game-changer for the marketing team.
The marketing team was initially concerned about the potential loss of control over their brand and marketing strategy. However, Fibr reassured them by demonstrating how their platform could enhance their existing efforts. Fibr's no-code Editor and Smart Personalization features allowed the marketing team to maintain their brand's integrity while efficiently creating personalized landing pages in various languages, thus reducing dependency on the tech team.
"We realized that Fibr could address the issues our team couldn't handle alone," said the marketing lead. "Their focus on personalization and conversion optimization was exactly what we needed."
They set clear objectives: to enhance ad relevance scores, optimize ad budgets, reach a broader audience, and reduce the cost per qualified lead. By leveraging Fibr's Ad Connect and Personalization at Scale features, they could create 100s of highly relevant and personalized landing pages and sync with them dedicated ads, leading to significant improvements in conversion rates and cost efficiency.
Conclusion
The implementation of Fibr's features brought about transformative results for the BFSI titan:
Expansive Reach: Over 100 dedicated landing pages were created for each consumer segment, ensuring tailored experiences for a diverse audience.
Linguistic Diversity: The company successfully utilized more than 5 languages across their landing pages, bridging the communication gap with their multilingual consumer base.
Enhanced Ad Performance: The alignment of ads with landing pages, significantly improved the Google Relevancy Score, optimizing their ad campaigns for better visibility and relevance.
Continuous Optimization: The ability to run 5+ A/B tests at any given time enabled them to constantly refine and improve their landing pages based on real-time data.
Conclusion
This story is more than just about numbers; it's a lesson in empathy and understanding. By acknowledging and embracing the linguistic and cultural diversity of its user base, this leading BFSI player set a new benchmark for consumer engagement in India's dynamic financial sector. It's a powerful reminder that in the world of finance, as in life, the most meaningful connections are made when we speak in a language that resonates with the heart.
In Their Words:
The marketing manager, reflecting on this journey, shared, "Using Fibr to make our website talk to consumers in their own language has been amazing. We're reaching more people and they're really responding to it. It's been a big win for us."
Ankur Goyal
Ankur Goyal, a visionary entrepreneur, is the driving force behind Fibr, a groundbreaking AI co-pilot for websites. With a dual degree from Stanford University and IIT Delhi, Ankur brings a unique blend of technical prowess and business acumen to the table. This isn't his first rodeo; Ankur is a seasoned entrepreneur with a keen understanding of consumer behavior, web dynamics, and AI. Through Fibr, he aims to revolutionize the way websites engage with users, making digital interactions smarter and more intuitive.