Coopeuch taps personalization to tailor experiences and improve conversions for financial services and products

Major Chilean financial cooperative institution partners with Dynamic Yield, D2B to increase partner enrollments for debit cards, resulting in a 25% uplift
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25%
uplift in partner enrollment for debit cards after implementing personalized messaging into the enrollment flow
26%
increase in conversions for loan re-liquidation after deploying an audience segmentation strategy to drive users toward the relevant microsite

Introduction

Coopeuch is a cooperative financial institution that provides comprehensive financial services and products to its partners and clients. For over 50 years, the Chile-based organization has nurtured customer relationships, operating under a democratic business model that encourages collaboration to better contribute to the well-being of the partner of the cooperative. From savings accounts and consumer loans to mortgages and financial advice, Coopeuch is on a mission to contribute to financial inclusion for all and actively seeks to consistently deliver the best possible experience for its partners. In search of an easy-to-use personalization solution to improve its ability to deliver stellar online experiences, the team was also looking for a partner with a background in digital transformation projects that could support its experience optimization efforts. After assessing their options, the team decided to work with both Dynamic Yield for its personalization solutions and D2B, a Chile-based digital consultancy that uses data to inform and implement business strategies that drive growth. Together, they deployed a number of use cases focused on acquisition, product growth and cross selling, resulting in a number of impressive results, including a 25% increase in partner enrollments.
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“Dynamic Yield has allowed us to optimize experiences throughout the customer journey, triggering and deploying tailored messaging, notifications, and more to improve the end-user experience. And by partnering with D2B, we have been able to discover opportunities in an agile and controlled way, which has had a significantly positive impact on our conversion rates and revenue generation. As a result, personalization has become key to achieving growth results.”
Andrés Meléndez Hagedorn, Head of Conversions and Analytics at Coopeuch

The Challenge

Looking to implement savvy digital solutions to drive brand objectives around partner enrollments and various financial services it offers, Coopeuch was looking to further digitally transform its business with personalization. It needed a solution that could:

  • Tailor messaging to different audience segments to present relevant offers to the right people
  • Help them educate partners of the cooperative through targeted campaigns for specific products and services
  • Track and pinpoint changes in consumer behavior to optimize the performance of its digital campaigns
After assessing a number of vendors, Coopeuch decided to work with Dynamic Yield for its personalization needs, as well as partner with D2B, a Chile-based agency specializing in data strategies, audiences, personalization, and the use of digital platforms, to help support and grow its personalization program.

Execution

Used an audience segmentation strategy to tailor messaging and drive partner enrollment for debit cards
Looking to improve the rate of partner enrollment, Coopeuch needed to better understand user behavior and identify non-partners of the cooperative visiting its site in order to target them with tailored messages. The team hypothesized that delivering personalized messages to non-partners would encourage them to engage with steps of the enrollment flow, driving sign-ups. After working with D2B to implement both Dynamic Yield and a clear, personalization framework, the team established a first-party data strategy that would help them identify and establish audience segments. Then, Coopeuch began identifying the types of messages, recovery notifications, and calls-to-action that would drive the best responses and decided to showcase the specific details and benefits of enrollment in hero banners. These banner variations and tailored messages were then shown to the non-partner audience segment who had started the enrollment process but did not complete it. With an end goal of re-engagement, this campaign resulted in a 25% increase in conversions against the control, which was a campaign excluding exit-intent notifications, personalized messages, or homepage hero banners.
Example of homepage featuring a tailored hero banner and personalized messaging
Personalized banners to different audience segments to drive awareness for its loan re-liquidation service
Coopeuch offers a wide range of financial products and services, and in an effort to improve visibility for its loan re-liquidation service among its partners, it needed to launch personalized campaigns that would drive awareness and conversions on-site. Because loan re-liquidation services are only available to current partners of the cooperative, the enrollment flow to sign up occurs on one of Coopeuch’s microsites. But in order to access the microsite, partners must be directed from the primary, parent site. As a result, the team wanted to promote this service on the main site where they could encourage partners to begin the enrollment process. D2B helped Coopeuch create three core audiences: users who are active but have yet to take any steps toward enrollment, users who have started the enrollment process, and users who have rejected the offer for loan re-liquidation. Each of these audience segments was then shown a unique banner on the main site featuring relevant, tailored messaging based on their enrollment flow status. Coopeuch witnessed positive conversions among each of these audiences, and among users that had yet to start the enrollment process, conversions increased by 26%.
Banner message shown to partners who have yet to begin the enrollment process
Banner message shown to partners who have started enrollment
Banner message shown to partners who rejected reliquidation offers encouraging them to look into other financial service offers

The Key Takeaway

In pursuit of expanding access to necessary financial services, advice, and products, Coopeuch believed taking a digital-first approach was essential to successfully bringing their mission to life. And because Coopeuch’s business model encourages collaboration to better contribute to the well-being of the cooperative, the organization was also looking to partner with best-in-class technology and partners to help them fulfill their vision of establishing relationships with its partners and prospects through tailored, relevant digital interactions. After working with Dynamic Yield and D2B to deploy a number of personalization campaigns focused on customer acquisition and cross-selling, the financial leader saw impressive results, including a 25% increase in partner enrollments for debit cards and a 26% increase in conversions for loan re-liquidation services.
D2B helps companies integrate data strategies and make efficient use of digital platforms to achieve business results. We learn from your customers and the market, making the most of the information available to generate constant growth.

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