Marketing Strategy for SmartBank digital Neobank

Background and Market Opportunity

Rohit and Sneha handle marketing for a newly launched Neobank called SmartBank. SmartBank  (SB) uses technology to give a user an enhanced banking experience that is completely digital  ie, that doesn’t have any physical branches. It has all the functionality of a bank - Savings  Accounts, Fund Transfer, Cards, Financial Services, etc. but has the app experience of a  consumer tech company. Neobanks are seeing significant growth and adoption in India. COVID  has helped further the growth of digital banking, without having to visit physical branches. In the  Banking industry, 50M+ new bank accounts are created every year while an equal number grow  dormant. Young millennials < 30 years create approx 5M accounts for salary credits and savings  every year, and hence there is immense opportunity. 

 
SB launched 6 months ago, and while the app launch was successful, growth targets have now  been increased. In the business forum that happened on June 15th, the guidance given to Rohit  and Sneha was that they can increase their marketing budget by 8-10% in July, Aug, Sept, but a  15% m-o-m growth is expected from paid channels in that period. Rohit (who handles  Facebook) and Sneha (who handles Google) had to then figure out a strategy to grow their channels, as simply buying more impressions/clicks was not going to help them achieve their  target.  
 Questions You can send us a presentation or document with excel sheet detailing your  approach and plan to answer the questions below.  
 
1. At the end of September, these are what the Facebook numbers look like: 

a. Has Rohit been able to achieve his growth target and keep his spends within budget? 

b. Within July, August and September, which was the most successful month for Rohit and why? 

c. Can you describe any changes in strategy that you observe between July, August and  September. What would you have done differently?  Please be detailed in your responses so that we can understand your thought process &  approach. 

2. Sneha has a budget of Rs.1,20,000 a day on Google for July. How should she split this between  her channels with a view to increase acquisitions for this app. 
 

 New User % is the % of new transactions/overall transactions attributed to this channel.  (Please use your experience to fill in any missing information you would require to complete this  task)
 
3. If you were given 3 Cr to increase awareness for the SB app in September, how would you spend this money and why. Please give a detailed plan, with success metrics.