IDFC Asset Management Company Limited

Salesforce integrates with multiple systems seamlessly, has extensive customisation capabilities, and offers smart analytics – it was the most obvious choice.”

Shwetal Kothari | Vice-President - Digital Marketing, IDFC Asset Management Company Limited

Watch an IDFC Asset Management Company session from Salesforce: Live India to see how marketers can engage their customers with context and relevance.



increase in sales


IDFC Asset Management Company delivers personalised online experiences to customers with Salesforce

Within a decade of operations in India, IDFC Asset Management Company (AMC) has become one of the most trusted mutual fund companies in the country. With over one million investors and a presence in 46 cities, the company has been forging its digital transformation journey with customer satisfaction at the centre of it all.

“We see a huge market for mutual funds in India. And have the opportunity to drive awareness, demonstrate benefits, and establish ourselves as a brand that delivers on promises to the customer,” says Shwetal Kothari, Vice President – Digital Marketing, IDFC AMC.

Driving personalised and contextual communication for better customer engagement

IDFC AMC was looking to execute large-scale direct marketing campaigns to increase share of wallet and improve customer retention. Kothari and team wanted to provide delightful experiences to customers that moved beyond run-of-the-mill ads to meaningful and relevant content.

“Ultimately we want our customers to consider us their wealth-creation partners,” explains Kothari.

“We also wanted a campaign management tool that could help us organise our campaigns, automate email marketing, store large databases and produce meaningful reports of campaign performance”.

For this, the company needed a reliable and easy-to-use email marketing engine.

“We evaluated quite a few solutions and finally chose to go ahead with Salesforce because of its advanced capabilities,” says Kothari. “Salesforce seamlessly integrates with multiple systems, has extensive customisation capabilities, and offers smart analytics.”

IDFC AMC uses Salesforce Marketing Cloud to create and execute email and SMS campaigns; both for transaction-related and informational communication that keeps customers engaged, as well as promotional emails to target prospective customers.

Marketing Cloud is also used to automate journeys for different customer segments and to deliver customised communication.

Using Einstein Analytics, IDFC AMC is able inform campaigns with insights from past customer behaviour. These insights help the company deliver meaningful content to the right customer segment at the right time – to inspire action.

Additionally, customer journeys are designed with time lags to deliver a personalised experience.

“We tailor our campaigns to achieve maximum impact. If a mail goes out today and there hasn’t been a response, we have a reminder email or SMS that automatically goes out after a period of time to nudge action,” says Kothari.

Einstein Analytics is also used to identify which channel is performing better and consequently optimise channel spend. At a micro level, the company also uses insights from the data to identify highly engaged subscribers and increase conversions.

“We’ve seen a 2.5x increase in gross sales and an overall reduction in the unsubscribe rate,” says Kothari. “Between January and December 2020, the unsubscribe rate was a low 0.06 percent.”

The team also uses Social Studio to create and publish compelling content on their social media platforms.

Forging long-lasting bonds

IDFC AMC wants to continue providing a superior online experience to customers. This involves adapting to the rapidly changing behaviour of the customers in the ‘new normal’.

“With the emergence of this new normal, a digital-first interface is the future. It’s not enough to simply be present online, it’s about how tailored and relevant the conversation is. Content may still be the King, but context is the Queen,” points out Kothari.

The company wants to merge online and offline processes to provide a seamless experience for their customers no matter the channel of interaction.

“We want to be able to quickly adapt to the changing needs of the customers and deliver powerful and positive experiences online,” says Kothari.


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