Kotak 811 got initiated as a zero-balance bank account scheme from Kotak Mahindra Bank.
When Kotak Mahindra launched it in 2017, it was the first-of-its-kind scheme. People did not know much about this kind of service.
But, as more players entered the market, Kotak 811 prospect base got compromised, which is why in 2018, they were surviving at a no-profit no-loss situation.
The aim of Kotak 811 was to persuade people to open a zero-balance savings bank account with minimum hustle.
The competition swiftly increased in the market since Kotak 811 came out. Many private players started the same scheme with better benefits.
The survival of Kotak 811 was at stake.
Hence, they decided to hire Promotion Bazaar, a brand identification company whose job was to give them quality customers who are willing to apply for their zero-balance savings bank account scheme.
Not only that but, Promotion Bazaar also had to make sure that Kotak 811 gets perceived as one of the standout schemes in the market because of the hefty competition.
Since Kotak 811 wasn’t willing to make any significant changes in the scheme, the task for Promotion Bazaar was to push its business through marketing only.
So, they decided to pitch publishers who had a good hold of Kotak 811’s target audience and promised them to clear their payment within 24 hours of the promotion.
The payment structure of existing publishers was also changed to the next day to derive fruitful outcomes.
By making publishers happy, Promotion Bazaar helped Kotak 811 fetch 300-500 zero-balance savings account customers every day.
This transition happened over 1.5 years, and, even today, Kotak 811 is reaping the profits.
The right decision for hiring Promotion Bazaar changed Kotak 811’s picture completely.
As for Promotion Bazaar, they earned $60,000 in revenue for their marketing efforts.