Cake by VPBank: HyperLead's Triumph in Accelerating Gen Z Banking

Context

Introduction: In January 2021, Be Group collaborated with VPBank to launch the digital bank Cake by VPBank. Positioned as the first digital bank for Gen Z in Vietnam, Cake aimed to redefine the banking experience and integrate seamlessly into the daily lives of Vietnamese youth, fostering comprehensive financial access for the population

Objectives:

• Communication Objective:
  
  • Establish Cake as the most popular digital bank for Gen Z in Vietnam.
• Business Objectives:
  
  • Attract app downloads and encourage account openings on Cake.
  • Drive users to perform their first transactions on the Cake app.

Target Audience:
Primarily focusing on modern young individuals from Generation Y and Z, particularly in major urban centers such as Hanoi and Ho Chi Minh City

Advantages:

• Backed by technology, infrastructure, and risk management expertise from Be Group and VPBank.
• Investment in technology, infrastructure, and personnel to create user-friendly products.
• Utilization of Be Group’s extensive customer base of over 10 million people.
• Inheritance of VPBank’s experience in digital banking operations and risk management.

Competitive Landscape:
Considering the level of investment in marketing for digital banking and customer segments, discussions highlight promotions and brand image as key factors driving engagement. This is influenced by the digital transformation push from SBV, brand activities like mini-games, and partnerships with e-wallets.

Solution

HyperLead (Affiliate Marketing)

Based on market research and Cake's product direction, HyperLead recommends a collaborative implementation of sustainable user growth solutions, including Affiliate Marketing, Digital Marketing, and Reputation Management.

Objective: Maximize successful Cake account openings and enhance brand recognition.
Implement: a Cost per Registration (CPR) collaboration model. KPIs include a minimum 30% conversion rate from app install to successful eKYC.

Digital Marketing (Mobile App Marketing)

Objective: Optimize marketing strategy, reduce costs, and increase effectiveness.

Implementation:

• Tailor messages to target audiences and execute promotions through various channels.
• Emphasize the importance of delivering the right message to the right audience at the right time.

Reputation Management

Objective: Actively shape and control public perceptions of the brand.

Implementation:

• Utilize Traffic Partner Management to select high-quality traffic sources.
• Employ digital marketing tools, social listening, and content moderation before dissemination.

Result

Since the partnership with Cake in June 2021, HyperLead has emerged as a strategic partner contributing significantly to the campaign's success:

What our customers say

Conclusion

As we conclude this journey into the digital banking revolution led by Cake and powered by HyperLead, the numbers speak volumes. With a remarkable 20-fold surge in new users within a mere 10 months, Cake has emerged as the epitome of swift success in the fintech arena. This collaborative triumph showcases the potency of strategic partnerships and the transformative impact they can have on the financial landscape.

For businesses seeking to replicate such success and harness the potential of Performance Solutions, look no further than HyperLead.

Contact us today to explore how our expertise can elevate your brand, drive user growth, and position your business at the forefront of the digital era. Let HyperLead be your guide to unlocking unparalleled success in the world of digital finance.