CHALLENGE

Meeting customer expectations in an evolving digital landscape 

Bajaj Markets is one of India’s leading digital marketplaces, offering financial products across multiple categories, such as loans, cards, insurance, investments, and stock markets, to millions of customers across urban and semi-urban regions.

Bajaj Markets focuses on delivering a secure and personalized financial experience to its customers. However, as customer expectations and digital behavior evolved, the company needed to create interactions to keep them engaged and connected with the brand. The traditional marketing efforts struggled to capture and engage younger audiences, especially during new vehicle launches, prompting the need for a more creative and interactive approach to drive digital engagement.

SMS could no longer keep pace with customers’ demand for enhanced communication experiences. As a result of this Bajaj Markets began facing several limitations: 

• Lack of rich media: Customers prefer visually rich, interactive content, while plain text messages fail to capture attention. 
• Limited content capability: The 160-character SMS limit created blockers for the company to send descriptive communication about products and any ongoing offers.

Therefore, Bajaj Markets wanted to go for an advanced messaging solution to resolve these challenges and enhance customer experience. 

Leveraging RCS to deliver engaging experiences and boost lead generation 

To modernize its customer communications, Bajaj Markets. sought a trusted technological partner capable of scaling with its digital ambitions. After evaluating many technology providers, the company decided to go with Infobip for its reliable global platform and always-on support system.

Understanding the existing business challenges of Bajaj Markets, we suggested adopting RCS for Business as their key communication channel because of its rich media features, real-time engagement capabilities, and growing traction in the Indian market.

The entire onboarding process was smooth, and within just a few days, they were able to get started with RCS.   

Reimagining customer journey with RCS

Once RCS was activated, Bajaj Markets. quickly adopted it as a primary marketing channel to reach both existing and potential customers. The team designed campaigns to promote a range of financial products, from everyday loan offers to festive-season promotions, all featuring interactive, visually rich messages.

To make their campaigns more engaging, they began sending visually rich RCS messages with call-to-action buttons using our platform.  A typical RCS journey starts with a personalized loan offer message that includes a call-to-action button. When the customer taps it, a simple in-chat form opens, allowing them to share basic details like income or city of residence.

The system then automatically checks loan eligibility and provides tailored product recommendations, all within the same conversation. Alternatively, if the customer already has the Bajaj Markets app installed, they are redirected to the app to complete the loan application.

Once the lead is generated, the call center team contacts the customer for smooth loan disbursal. This journey explains why in the fintech industry, personalization is the key as different customers have different types of financial needs. So, to make the RCS campaigns more relevant for their customers, Bajaj Markets leverages AI and Python to segment users based on behavior, credit profile, and engagement history. They use predictive models to recommend the right product at the right time.

Apart from promoting financial products, the company also used RCS for Business to build financial awareness. Regular campaigns encouraged customers to check their credit score via the Bajaj Markets app and educated them on how maintaining a healthy score can simplify future loan approvals. 

By transforming simple text messages into rich, interactive experiences, Bajaj Markets. created a faster, more engaging, and more personalized way to guide customers from awareness to conversion. As they say in Bajaj Markets, “RCS provides us with an interactive communication facility without any character limit. We can also add our logo, which helps build trust.”

Better engagement and ROI with WebView 

To provide a better user experience and improve lead generation, the Bajaj Markets team implemented the WebView feature of RCS in its campaigns.  WebView is a powerful feature of RCS for Business that allows brands to provide a full web-like experience within the native app. Users can browse product pages, fill out forms, and even make payments without leaving the chat.

The team conducted A/B testing to evaluate the effectiveness of the WebView experience in re-engaging users and improving conversion outcomes. Users’ data was segmented to identify individuals who had previously engaged with their campaigns but did not complete the lead submission process.

Two campaigns were created with identical creative and content but different landing experiences – one on WebView and the other directed to a web browser. It was observed that the campaign providing the WebView experience was more successful in terms of generating more leads and providing a cost advantage.  

50% delivery rate achieved on RCS for Business 

Implementing RCS in their messaging mix powered by Infobip, Bajaj Markets noticed a huge difference in their campaign performance and ROI. When compared to the traditional SMS campaigns, RCS campaigns delivered improved results in terms of engagement and lead generation.  The visually rich and interactive nature of RCS messages captured customer attention easily, leading to a higher number of successful loan applications. 

 Here are some of the key results attained: 

• 50% delivery rate achieved on RCS for Business
• Delivered a strong uplift in performance
• Achieved a strong improvement in click-through rate, driving higher engagement
• 18% to 23% increase in clicks to leads after implementing WebView 

Encouraged by these positive numbers, the Bajaj Markets team looks forward to implementing RCS in new cases across insurance, investment promotions, and more. They’re also exploring integration with WhatsApp and SMS to build a cohesive omnichannel strategy that enhances customer experience across touchpoints. 

Regarding our association, Bajaj Markets has expressed strong satisfaction with the timely support provided by our team. As the team shares,” Working with Infobip has been productive. The team has been proactive, responsive, and genuinely invested in our success.”