CBD’s ‘Co-Founder’ Initiative Shows How To Ask The Consumer


Since the launch of its digital front – CBD Now, the Commercial Bank of Dubai (CBD) has received encouraging response to its first-of-a-kind initiative – the ‘Co-Founder’ program.

In addition to its digital services, enabling users to do anything they want to do through their smartphones, CBD Now aimed to crowdsource its direction from the most important stakeholder, its customers. In line its tagline ‘CBD Now – Powered by You’, the Co-Founder program involves the bank engaging with its customers, and then building the bank by listening and actioning their inputs.

“The response has been phenomenal. With very little traditional media and channel activity, we received an overwhelming response in terms of signups for the Co-Founder program in the first three weeks itself. We have reached seven million people online primarily through social platforms with our consumers engaging with the brand through likes, tweets, comments, shares and replies,” said Haysam Fahmy, Head of Digital Marketing and Performance, CBD.

Built on a backbone of smart notifications, mobile tools and themed NOW rewards & offers around gaming, tech, food, music & sport, CBD Now is focused on providing its users with the most personalized, innovative and convenient financial solution on their mobile. “What is astounding for us is that one of every two people who sign up on the website, leave an idea for us. The conversion rate is very impressive too, which is nearly 25 percent. One of every four people who come on the site are registering. People are just waiting to be heard and we have given them that platform,” added Mr Fahmy.

The bank’s launch video reached 300000 views in the first three weeks and counting. It has also created a video of the top five ideas that it has received so far from its users, encouraging more to come forward and share theirs.

The bank is also planning to carry out digital as well as ground activations, focusing on digital channels. “The key component will be continuous engagement with our base. We are engaging with the registered users on a weekly basis. They are helping us build the bank by way of the surveys they take, answering questions and giving their feedback. This is a new level of engagement that has never happened in the banking industry in the region. We are building from the ground up and we are building it with peoples’ voices,” said Mr Fahmy.

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