Infobip enables LankaBangla achieve 90pc delivery rate  

An unprecedented digitalisation rate in Bangladesh is leading businesses in the country to evolve rapidly. About 25 per cent of the country's population can access the internet. It is a significant rise compared to 2011, when only 5 per cent of people could use the internet.

The country is undergoing a telecom revolution, wherein about 62 per cent of the population will have access to smartphones by 2025, contributing to the widescale digitalization of operations among businesses.

The digital revolution has increased customer awareness, increasing demand for more convenient and personalized products and services. It has opened new doors for businesses to integrate technology and experiment with communication approaches. From retail to banking, financial services, and insurance sectors welcome major technological modifications in their communication approach towards customers.

One such success story to emerge from the need for digitalization for effective business growth through communication is that of LankaBangla, a leading integrated financial services institution in Bangladesh and one of the top credit card providers.

It achieved a 90 per cent delivery rate after using personalized messaging enabled by Infobip, a global cloud communications platform and a leader in omnichannel communication that enables businesses to build connected experiences across all stages of the customer journey.

How did LankaBangla find solutions to its woes? 

Being a financial services provider, it is imperative for LankaBangla to communicate with its clients for long-lasting customer relationships and maintain trust in their credit card portfolio using communication tools like reminders, transaction updates, and significant notifications.

However, LankaBangla’s traditional approach of sending out bulk SMS and emails to its huge customer base was challenging. The outdated strategy did not allow the financial service provider to track, analyse or measure SMS and email performance.

The absence of metrics and consumer insights further became a restraint in personalization. These hurdles led to disappointing outcomes of delivery rate hovering between 50 per cent and 60 per cent. The lack of relevant data on consumer preferences made it even harder for the company to build tailored products and services.

LankaBangla realized the need of a dynamic communication solution that will enable it to send data-driven messages at scale. Thus, it found Infobip communication technologies partner that empowered LankaBangla to send personalized product features and promotional SMS and Emails.

Sandesh Sarang, revenue director – India, Bangladesh, Nepal, and Sri Lanka, Infobip
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Infobip brings in personalised messaging 

With its SaaS (Software-as-a-service) and CPaaS (Communication platform-as-a-service) offerings, Infobip provides omnichannel engagement and security solutions. Its CPaaS capabilities enabled LankaBangla to achieve outstanding results through a single, scalable, and easy-to-use cloud-based communications platform and engagement metrics.

Sandesh Sarang, revenue director – India, Bangladesh, Nepal, and Sri Lanka, Infobip, said, “Our team worked closely with LankaBangla to integrate our CPaaS solution to their existing database to provide unified customer insights. It allowed the brand to personalize messaging on both channels (SMS and Email) at scale and send the right message at the right time through our platform.” He added, “Through our solutions, we also enabled LankaBangla to monitor customer interaction on digital channel and analyse the date to modify strategies, resulting in maximum conversions.”

LankaBangla now receives in-depth data on customer engagement metrics, including open and delivery rates. Their campaign managers can now create effective campaign strategies using Infobip’s drag and drop interface. Infobip also provides real-time support to LankaBangla, advising it on best practice use cases and fixing technical issues in under an hour.

Outstanding outcomes 

LankaBangla has achieved higher engagement and increased conversions across the customer journey, with delivery rates ranging between 90 per cent and 92 per cent by leveraging Infobip’s CPaaS capabilities.

Khurshed Alam, SEVP & head of retail business, LankaBangla Finance Limited, said, “Infobip allows us to achieve higher deliverability, drive traffic, increase sales, and interact with our customers across all touchpoints via SMS and Email. With this friction-free communication, we can now collect insights, engage, and deliver a consistent experience to our customers with Infobip’s CPaaS capabilities. With a data-driven strategy, we can now provide a personalized experience to all customers with Infobip SMS and Email, anytime.”

Khurshed Alam, SEVP & head of retail business, LankaBangla Finance Limited
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LankaBangla is benefitting from end-to-end customer data and real-time insights on consumer behavior, product usage and preferences. With a data-driven strategy, the company will continue to deliver consistent and personalized experiences to its customers across SMS and Email. 

The benefits of a tech-based communication approach in a business can go a long way in meeting customer demands and building a loyal client base. The world is headed to a conversation-centric approach to customer experience nowadays.

The LankaBangla story makes a strong case for businesses to start thinking about technology and hyper-customization. Brands must prioritize understanding their customers, what they need and how - the more effortless the customer experiences, the more conversions into business.