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 client's 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, personal loan audience, car loan audience, and investment audiences. 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.
The key to the success of this campaign was reaching the people in our 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 needed 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 new ads. As the campaign went on, we idenﬁed what ads, creatives, and ad copy worked for each audience and demographics.
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.