IFBI, a joint initiative between NIIT Ltd. and ICICI Bank Ltd., has been a pioneer in the BFSI education and training space in India since 2006. IFBI was created with the goal to offer programs for a variety of student segments, from graduates seeking banking careers to banking professionals looking to upgrade their knowledge.
Seven years ago, Navigant was hired by NIIT to register Post Graduate Commerce students in India for the banking program. Over this time, Navigant team has been generating over 25,000 marketing leads on an average per month through its digital marketing efforts. The team has managed to convert these marketing leads into a very healthy number of 11, 000 verified leads of which 30% appear at the NIIT centres for course registration. The stringent filters applied each stage ensure that 7% of walk-in students enrol for the course, costing Rs. 95,000 per student.
In order that the NIIT management team has a current and easy view of the project, (daily, weekly monthly) Management Information Systems reports along with the productivity reports of each call center agent are shared with the client.
With Navigant coming on board for lead generation, NIIT has witnessed an average of 750 registrations per month for the course, up from less than a half figure of 320. Correspondingly, the revenue of the company has risen to USD 1.02 mn from USD 0.436 mn per month.
“Many thanks to the Navigant team for their support in building the IFBI brand and in growing NIIT’s business. During 2016, we increased the call center contribution to our business from 20% in Q1 to 80% in Q3. Over these ten months, we never missed a target and helped the centre teams achieve their targets for the IFBI program” - NIIT Ltd.
“I agree Navigant’s contribution to NIIT’s BFSI business has been enormous. I am happy that we are still doing business with them. We will continue to strengthen our business partnership with Navigant as we scale up this learning program for the banking industry - NIIT Ltd.