Customer Base Expansion and Sales Automation: Mikro Kapital

33․5%

increase in total value of loans provided

25%

increase in the number of loans

54%

increase in number of qualified leads

200%

increase in unique website visitors

Mikro Kapital is a company providing financial services aimed at helping with the growth and development of businesses, ranging from Micro Enterprises to Small and Medium-Sized Enterprises. We were approached by the company with two pressing issues at hand: the way requests were coming to the company and the number of those requests.

The Problem

The number one issue that Mikro Kapital was faced with was having very few requests for financing businesses with their loans via social media marketing efforts, in comparison to other means of advertisement: radio, billboards, previous customers, etc. Hence, we had to find a way to organize the process and spread the offer to a larger mass of entrepreneurs seeking ways to build and expand their business activities.

Secondly, the other pressing issue for Mikro Kapital concerned the way people were requesting those services. Most of the time, people would either request details or want to sign up via comments under Mikro Kapital’s social media posts, or through direct messages to their Facebook account. The process winded up being extremely insufficient and unorganized, contradicting the effective and efficient manner financial services should be provided, for maximizing the results. Therefore, the sales department of Mikro Kapital was overloaded and it was difficult to gather all the applications in one place.

The Solution Strategy 

After some time of brainstorming, we decided to take a multidimensional and multistep approach for solving the above-mentioned issues.

Firstly, the ads on Mikro Kapital were not providing the company the results that they wanted to see. Customers were seeing the ads and writing comments where they would try to apply for a loan or request more details about it. Thus, we changed the objectives of all the ads that were being placed to traffic and linked them to the website of Mikro Kapital. Additionally, to catch the eyes of most loan seekers, the links were specifically chosen to take people to the most desired offers, such as business loans without collateral, with collateral, and loans with a car as collateral. Thus, people no longer needed to write comments to find out more about the product, they could simply click on the post, and see the details for themselves. Yet, if they did write a comment under one of the posts, the bot would automatically send them a message and answer any questions the customer had.  

During the second stage, we decided to solve the problem of efficient and smooth customer acquisition. One way to do that, which we decided to implore was through launching lead generation ads, which we connected to their CRM system through Zapier. Thus, people would see the ad, immediately be able to sign up via the lead generation form and did not need to write comments on how to apply for the loans and wait for someone to help them out with that. Their submitted forms were now automatically connected to their Customer Relationship Management System, where their customer base was compiled. This process was automated to the point where Mikro Kapital’s Sales personnel only had to make the calls and finalize whether the person who submitted the form was or wasn’t eligible for the loan.

Additionally, for the ad targeting, we used several approaches:

  • Retargeting – showing the ads to those people who showed some interest in the loans, but did not apply yet

  • Existing contact base – reminding the current contact base to either continue using the services or finalize the application

  • Lookalike audience – targeting people who resembled the existing customers one way or another

Simultaneously, we used Google search ads for Mikro Kapital’s page (https://mikrokapital.am/), so people who looked for loans would some across Mikro Kapital while searching online. Hence, we once again used the retargeting approach.

The final stage of our activities was all about creating a chatbot. The chatbot became a full-service providing tool, where the user could find out everything they needed to know about the loans, their terms and conditions, and apply for a loan immediately through the chat. The latter was once again automated and connected to the CRM system of Mikro Kapital, making the process seamless, both for the end customer and for the sales specialists.

On a different note, to increase brand awareness, we also opened a YouTube channel for Mikro Kapital, where short explanatory videos were posted, increasing brand trust and recognition.

The Results

As a result of the previously explained activities, Mikro Kapital experienced an increase in qualified leads. Additionally, since the sales department was now able to dedicate more attention to moving those leads along the sales funnel, the loan requests increased by 25%. Lastly, the amount of capital provided as a loan increased by 33.5%. The revamping of the strategy of advertising activities also resulted in an increased number of website visitors.

Share