Case Study

Case Study: Scotiabank Boosts Sales With Targeted Mobile Cross-Selling

The Bank Has Employed Mobile Messaging, Targeted Offers, And Prefilled Forms To Deepen Relationships With Customers

May 26th, 2015
Peter Wannemacher, Principal Analyst
Peter Wannemacher Principal Analyst
With contributors:
Alyson Clarke , Benjamin Ensor , Rachel Roizen , Audrey Blumstein

Summary

Mobile is the new battleground in Canadian retail banking. In 2013, digital executives at The Bank of Nova Scotia — commonly referred to as Scotiabank — looked at the state of mobile banking and recognized the opportunity to roll out targeted mobile marketing to existing customers using the firm's mobile apps. Scotiabank's digital team developed mobile messaging, to deliver targeted offers, and convenient features, such as prefilled mobile product applications. As a result, Scotiabank has seen a sharp rise in mobile cross-selling: Mobile conversion rates have more than doubled and mobile sales of some products now account for nearly half of all digital sales to existing customers. This report outlines how Scotiabank evaluated the situation, developed an action plan, and put in place successful mobile marketing and sales tactics.

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