Project Description

CASE STUDY

Driving Business Growth Through Facebook Ads

Banking Facebook Ads Case Study

CHALLENGE: PROMOTE ONLINE BANKING & OTHER SERVICES

The Client?
Client is one of the leading banking institution in its region, with a network of over 400 branches. They offer a range of core banking services and financial solutions to retail and corporate clients. Their service portfolio includes consumer banking and lending, investment banking, asset management, insurance, leasing, and allied services. The client has recently upgraded it online banking services through a new website and mobile app – which is also a hub where they showcased all non-core banking services as well.

*?Client’s?Name, brand and identifying details have been withheld to protect their privacy, as per their request.

FaceBook Ads Case Study

THE OBJECTIVE

As Facebook is one of the largest social media platform and the knowledge that around 20 million of the client’s customers are active Facebook users, the client wanted to leverage this social media platform to promote their online banking portal and services. Eager to put facebook at the center of their digital marketing strategy, the client approached us with these three objectives:

OUR FACEBOOK ADS STRATEGY

AD Targeting

Step 1: Building the Base Audience

The effective Facebook ad campaigns leverage on the massive insights Facebook gathers about its users.

We began by building the client’s base audience using leading data analytics tools and proprietary ad targeting methodology.

Step 2: Multi-Level Ad Targeting

This base audience was further segmented into smaller audience groups, according to their likelihood to be interested in one of the client’s services.

For example, Housing Loan ads were targeted to newly engaged or married couples, while the Credit Card ads were targeted to the newly employed.

AD Delivery

Ad Types

The next task was to tailor ad creatives and deliver ads that would work best for the campaign. For this campaign, our team found Carousel Ads performed best, we also use Dynamic Product Ads for remarketing.

Ads were then infused with ?appropriate creatives that would appeal to the ad set’s target audience (e.g. newly employed, young families, retirees).

Ad Placement

Facebook offers different ad placements for advertisers to choose from (eg. News Feed and Desktop Right Side), each with its own unique advantages.

We constantly tested and monitored ad sets performance on different placements. This integrated placement approach meant improved efficiency and reach for the campaign as a whole.

Efficiency

Effective Ad Buying

The aim of any ad campaign is to reach the target audience with the right frequency in order to stay top-of-mind and drive desired action. As a Facebook ads agency we’ve access to Facebook’s Reach and Frequency Tool, enabling us to predict reach and the ability to cap frequency for each person.

To lower costs even further, our ad experts purchase ad units in advance for the campaign when the price for ad inventory is lower.

Ad Optimization

Constant ad optimization was key to keeping the campaign efficient. We monitored the efficiency of each ad set per audience segment by Cost Per Reach (CPR ) and Cost Per Click (CPC). The non-performing ads were replaced with new ones weekly, while non-performing segments were modified based on new insights.

Targeting became increasingly structured over time for more meaningful reach and value per dollar. The campaign had an?average Cost Per Impression (CPM) of only $0.45, an 86% costs savings relative to the Global Index.

RESULTS

Banking Facebook Ads Case Study

Month 1

Even with a small starting budget, the campaign was able to generate almost?28 times more traffic from Facebook in its first month.?Satisfied with the results, the client began to invest more in the campaign in the months that followed.

Months 2-7

Ad sets and audience segments were constantly tested and modified according to performance. Traffic grew, steadily, hitting a plateau at the 3rd?and 4th?month due to ad weariness. An ad refresh was rolled out, and again traffic grew until peaking in the 7th?month.

Months 7 onwards

After hitting its peak, ad weariness again set in, resulting in a steady dip in traffic until the 9th?month. Another ad refresh was carried out. Again, traffic grew at a steady rate and?reached a new high in the 11thmonth.

THE TAKEAWAYS

  • With our Facebook Ads expertise, awareness of the client’s banking website grew steadily, peaking at?574,638 visits in the 11th month, and driving recurring visits and adoption of its online banking services.

  • Through our Multi-Level Ad Targeting strategy, the client saw better engagement across all product categories, and a sharp increase in Car Loans.

  • With our industry-best data science tools, proprietary ad targeting methodology, and experience with Facebook Ads, the campaign had a significantly lower average Cost Per Impressions (CPM),?translating to 86% cost savings.

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Does your brand need some love? We’d love to help!

Give us a shout.

Contact us
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