Upwards Capital bagged the award for Lead Generation Campaign at DNA 2023 Awards from Banking Frontiers Jury. Highlights of their nomination:
Upwards Capital undertakes the task of lead generation on a priority manner through strategic partnerships with top industry players such as Bajaj, Paisa Bazaar, Buddy Loans, etc. This approach has enabled the company to get the highest quality leads and capitalize on increased conversion rates. By strategically targeting the right segments of the funnel, the goal was to minimize losses and achieve a competitive edge, ultimately maximizing conversions and ensuring sustained growth in the personal loan lending space.
The company adopted an effective campaign that involved several key steps aimed at building a robust risk model and delivering personalized offers to customers. It involved:
- Development of a risk model, by meticulously tracking customer credit history and vintage. AI tools are employed to analyze previous payment patterns from various tradelines, enabling a thorough understanding of each customer’s creditworthiness.
- Specific BRE (Business Rule Engine) rules are created and shared with campaign partners. These partners then send pre-qualified leads to the campaign, ensuring that only relevant and potential customers are considered.
- Lead filtering is employed by campaign partners to maximize lead quality. This step ensures that the most promising leads are integrated into the company’s system for further processing.
- Deduplication checks are carried out to eliminate duplicate entries and streamline customer data. This ensures that the campaign focuses on unique customers and enhances data accuracy.
- An inbuilt system is deployed with offer-driven parameters, enabling us to provide tailored loan offers to customers. This personalization enhances customer satisfaction and increases the likelihood of conversion.
The campaign tracks customer banking history through the system. This data is utilized to validate customer accounts and ensure authenticity, enhancing the overall security and trustworthiness of the process.
The company got as campaign associates Google, Bajaj Finserv, PaisaBazaar, Buddy Loans, PayU, Geo Algo, Lendingkart, IndiaLends, MoneyTap and LoanTap.
The company claims the lead generation campaign has yielded exceptional outcomes, driving significant success in the personal loan lending space. Some of these are:
- The campaign has resulted in a substantial increase in lead volume, with a significant rise in the number of potential customers expressing interest in the company’s loan products.
- A higher percentage of leads have successfully converted into approved loan applications, showcasing the effectiveness of the lead filtering process and personalized offers.
- There has been an increased number of loan disbursements to salaried professionals. The streamlined funnel and personalized approach have contributed to a smoother loan approval process, leading to faster disbursals.
- The campaign’s risk model and customer credit history tracking have improved the overall portfolio quality. By targeting the right segments of the funnel, the company mitigated losses and maintained a robust portfolio.
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