Qorus Banking Innovation Awards 2014 - Winner

Effective Innovation channels for banking engagement

Submitted by

Kasikornbank

Logo of Kasikornbank

<div>KASIKORNBANK PUBLIC COMPANY LIMITED (KBank) conducts commercial banking business, securities business, and other related businesses. With...

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10/09/2014 Banking Innovation

About

Kasikornbank has developed an effective digital social engagement channel with a powerful reach

Innovation presentation

Wanting to better engage with its digital customers and improve its reach across social channels, KBank has recently launched a new account on the new communication app LINE, through which it can carry out marketing campaigns and promote the latest version of its mobile banking application, K-Mobile Banking PLUS.

KBank set up its KBank Live LINE Official Account to be used as an effective channel for delivering both online and offline marketing campaigns. This innovation is the first of its kind in Thailand where there are about 18 million LINE users – the world’s second largest LINE penetration rate.

Upon launch, the KBank Live LINE Official Account gained 2.6 million followers in a single day. To put this into perspective, it took four years for KBank to acquire 800,000 followers on Facebook.

The bank also created ‘Brown & Cony in KBank World’, a LINE sticker set with the key characters Brown and Cony wearing KBank uniforms in a variety of action poses. The popularity of these stickers during the month that KBank promoted K-Mobile Banking Plus via its LINE Official Account led to a 15% increase in application downloads. This proved that the KBank Live LINE Official Account was a very effective channel for acquiring digital users, as well as an effective tool for marketing products.

Less than a year since its launch and KBank has 9.06 million users. Many competitors have emulated its strategy and launched their own LINE accounts. Currently, KBank is using the LINE Official Account to engage digital users online and offline, and is seeing reach rates that are 100 times better than Facebook.

Uniqueness of the project

Unlike other corporate brands, KBank didn’t create any characters that might only enjoy short-lived popularity, but chose to use LINE’s most popular Brown and Cony icons, and dress them in KBank uniforms.

KBank is the first brand in Thailand to use Brown and Cony under its corporate banner to make financial issues more fun for customers. Customers are able to chat about financial issues with the KBank sticker. KBank leveraged these characters to great effect in its marketing campaign, which ended up being more successful than expected. It used the KBank Live LINE Official Account to achieve greater brand awareness. Even after the campaign ended, Brown and Cony are still associated with KBank, thus creating strong brand linkage.

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