New Facebook Ad Strategies for an Old Bank

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Keeping up with the Digital Age

Thanks to their suite of financial products and solutions for both retail and corporate clients, the bank surveyed their neglect of digital marketing focusing instead on traditional marketing and word of mouth. However, as as more and more of their customers were moving to the internet to find financial services such as consumer banking and lending, insurance, investment banking, and asset management, the bank found it increasingly difficult to keep up with the demand. They knew it was time to shake up their marketing strategy.

Their Goal

Their Goal

Our clients internal web development team updated their website to bring both design and function consistent with the current technical trends. It was primed to become their hub of local banking services that their digitally save customers needed. Depending on location, up to 73% of people used online banking in 2017. The goal of the Facebook Ads campaign was to drive traffic from Facebook to the online banking website in the most efficient way possible. 

Our Solution

Our Solution

New traffic for a new website

Using the information that Facebook has about each of its users (98 data points to be exact), we built a base audience of people on Facebook likely to need our clients banking services.

We then segmented this group further based on which service they might need. The audience groups were credit card audience, housing loan audience, car loan audience, and investment audience. Each audience would see different ads created specifically for that demographic and banking need. Additionally, we used two types of ads – carousel ads and dynamic product ads.

Key to the success of this campaign was reaching the people in out segmented audiences with the right frequency so that our client’s bank stayed top of mind. This way, even if they weren’t purchasing a car, buying a home or needing a credit card when they saw the ad, the ads were displayed at regular intervals with refreshed content so they would consider our client’s banking services when the time was right.

Via weekly monitoring of the results primarily focusing on the metrics CPR (cost per reach) and CPC (cost per click) we discovered which ads were underperforming and we promptly replaced them with ads. As the campaign went on, we identified what ads, creative, and ad copy worked for each audience and demographic.

Their Success

Segmenting Audiences to Connect Emotionally

Segmenting Audiences to Connect Emotionally

Facebook Ads are often created for too general an audience in an effort to reach more people with the same ad. This usually has disappointing results. The best method is to segment audiences to an almost granular level then take the time to create ads that speak to them on an emotional level. The result for our client was increased awareness about their online services, increased web traffic and increased loan applications.

Products used

We develop a strategy for Facebook three primary purposes; awareness, consideration, conversation. In addition to the strategy, we’ll also create gorgeous ad copy to make your campaign successful.