BMO Digital Strategy ADOPTION
The Challenge.
As the digital strategy experts, our role was to develop a strategic plan for digital adoption initiatives. Key activities included: Overseeing the budget, planning and implementation of all marketing initiatives for the Canadian Digital Channels team. Focus on setting the strategic direction for Canadian Digital Team by driving digital awareness and adoption. We introduced a behavioural economics programs to the marketing team that helped leverage insights into digital banking initiatives.
We launched a national marketing campaign for BMO’s first A.I. Chatbot (BMO Bolt). This included an omnichannel marketing plan that spread over 3 months. In addition, we worked on the design and management of the marketing messaging for BMO’s new Mobile Cheque Deposit App feature.
The work increased overall digital adoption rates from 2.1% to over 15% by leveraging personalized incentives during our adoption campaigns. With an anticipated ROI over 125%.
Tactics.
- Paid media campaigns
- Inbound Marketing
- Incentive campaigns
- Email marketing
- PR launch
- Website banner ads
Results.
- 125% ROI on overall campaign spend
- 10% conversion rate of paid campaigns
- 20% reduction of in-brand transactions
2017/2018
Personalized Incentives
BMO wanted to increase digital adoption of its older customer-base. We worked with external vendors to develop a personalized incentive reward specific to each targeted demographic. Our digital strategy leveraged behavioural science into our customer journey planning and executed a campaign with astounding success.
RESULTS
- 125% ROI
- 18.7% engagement rate
- The most successful digital adoption campaign to date at BMO
- Proof case to launch the program across North America
- Increased retention of digital customers by over 60%
2018
Mobile Cheque Deposit
BMO had arrived late to the mobile cheque game (5 years late). As we developed the campaign, we wanted to take a conservative approach to our designs (bottom right). However, there was a finite group of disgruntle customers and we felt we needed to address that (Top right).
Our national campaign launched for BMO’s mobile cheque deposit and it has been smooth sailing ever since.
RESULTS
- Omnichannel campaign with at 75% engagement rate
- Reduced in-branch transactions over 20%
2018
BMO BOLT
BMO is not afraid to bring in new technologies. Their ai chatbot was one of the first ai powered chatbots in Canada. The national campaign Launch for BMO Bolt received an immense amount of support. Our digital strategy leveraged the social media platforms as a way to promote our new service tools and engage with customers the way they preferred.
RESULTS
- 6 week campaign that reached over 750,000 customers
- 10% conversion rate
- 8% reduction in call-centre activity
- 84% answer rate
