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The (Mashreq) Gold standard of targeting affluent individuals
How Mashreq reaches and converts high net worth individuals (HNWI) on LinkedIn
Mashreq Gold is a premium banking service by Mashreq that offers a seamless and personalised banking experience for affluent clients. The onboarding process is 100% digital, where customers go through a short onboarding journey and upload any required documents. The programme is tailored to an exclusive audience of high net worth individuals (HNWI) who are able to maintain a minimum monthly salary transfer of 80,000 AED ~22,000 USD) or an account balance of of 750,000 AED (~205,000 USD).
THE CHALLENGE
To drive signups for Mashreq Gold, the Mashreq team needs to find and convert qualified audiences who meet the above eligibility criteria efficiently — and do so in a consistent manner to keep their sales pipeline filled. They turned to LinkedIn, leveraging the platform’s professional reach and advanced targeting capabilities achieve their lead generation goals.
THE SOLUTION
Mashreq recognised that LinkedIn members have twice the buying power of the average web audience. LinkedIn’s reliable, first-party data on professional attributes. To capitalise on this, Mashreq partnered with LinkedIn and omnichannel agency Assembly to develop a powerful marketing strategy tailored for an audience of HNWI.
- Reaching the right audience: By using targeting segmentation and relied on LinkedIn’s support to build custom audience segments. Also, they trialled Predictive Audiences which produced a 30% increase in leads generated. Mashreq enabled LinkedIn Audience Network to extend their campaign reach and frequency.
- Measuring and optimising performance: Mashreq installed the LinkedIn Insight Tag on their website to fully capture the impact of their ads. It unlocked powerful insights and allowed them to accurately track the lead journey. The insights formed the basis for ongoing campaign optimisation during their weekly discussions.
- Getting creative with ad formats: With a robust targeting strategy, Mashreq used Sponsored Content ad formats to deliver their full-funnel messaging and nurture audiences. They introduced Sponsored Messaging mid-campaign which successfully drove a 70% increase in account opens and lowered cost per lead by 67%.
THE RESULTS
Mashreq effectively capitalised on the HNWI opportunity on LinkedIn, with their campaigns producing:
2x
ROI
73%
Lead qualification rate
4x
month-on-month increase in pipeline leads
+30%
increase in leads from Predictive Audience
+70%
increase in account opens at 67% lower cost per lead from Sponsored Messaging
“Mashreq Gold offers a best in class priority banking proposition that caters to the banking needs of the affluent & HNWI segment. With all our accounts opened digitally, it’s critical that we target the right customers. LinkedIn has emerged as a channel that is particularly effective at targeting the right customer.”
Aladdin Al Deesi
Head of Mashreq Gold
Mashreq
One of UAE’s best performing banks for over five decades, Mashreq is a leading financial institution with an expanding foodprint across the Middle East and North Africa with a strong presence in the financial capitals of the world with international offices in Europe, Asia, Africa and the US. View Company page.
Headquarters: Dubai, UAE | No. of Employees: 1,001-5,000 | Industry: Banking
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