Thanks to their suite of financial products and solutions for both retail and corporate clients, the bank survived their neglect of digital marketing focusing instead on traditional marketing and word of mouth.
However, as more and more of their customer were moving to the internet to find financial services such as consumer banking, and asset management, they found it increasingly difficult to keep up with the demand. They knew it was time to shake up their marketing strategy.
They 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 savvy customers needed.
Depending on location, up to 73% of people used online banking. The goal of our campaign was to drive traffic from facebook using Facebook Ads in the most efficient manner possible.
Segmenting The Audience
Ad Creatives Testing
Using the information that Facebook has about each of its user, we built a base audience of people on facebook likely to need their services.
We then segmented this group further based on which service they might need. The audience groups were credit card audience, housing loan audience, personal loan audience, car loan audience, and investment audience.
Each group would see different ads created specifically for that demographic and banking need. Additionally, we used two types of ads – carousel and dynamic product ads.
Key to the success of this campaign was reaching the people in our segmented audiences with the right frequency so that our client stayed top of mind. This way, even if they weren’t purchasing a car, buying a home or needed a credit card when they saw the ads, the ads were displayed at regular intervals with refreshed content so they would consider their banking services when the time was right.
Via weekly monitoring of the results primarily focusing on the CPR and CPC. We discovered which ads were underperforming, and we promptly replaced them with new ads. As the campaign went on, we identified what ads, creatives, and ad copy worked for each audience and demographic.
Our ability to hone in on what tactics worked for each audience resulted in a dramatic increase in their website visits. This new traffic translated to new customers for each of the promoted services with new car loan applications increasing significantly.
There are no secrets to success. It is the result of preparation,
hard work, and learning from failure.
– Paul Tournier
By segmenting the audience we were able to create Facebook ads that talked to the audience on a more personal level. Website traffic increased by 28x the number of visits prior to the campaign.
Segmenting Audiences To Connect Emotionally
Facebook Ads are often created for too broad of 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 The Bank of Tampa was increased awareness about their online services, increased web traffic and increased loan application.