Raiffeisen is one of the leading banks in Serbia. As a universal bank, it is active in the retail segment of the market. Their goal was to reach a broader population with direct contact and, by doing this, increase the sales of their retail services, primarily cash credit.
With this campaign, we managed to boost offline sales by redefining advertising channels and target audience as well as adjusting content. That generated online leads which were successfully converted to offline sales.
The main goal of the online campaign was to collect contacts of people in need of cash credit, and indirectly increase sales of the bank’s other retail services
In the previous campaigns, the bank tried using display and search advertising, but the results were not satisfying. We thought we can do it better, so we set goals that had to be met, like max cost per acquisition and preferred number of leads (on a monthly basis).
It was challenging to increase reach and, in the same time, achieve a high direct response rate from users.
The campaign was launched in July, and that did not go in our favor because the online traffic decreases during the summertime as most people are on their paid leave. So our first goal was to reach a high number of users through different channels to see which performs better.
Communicating a clear and transparent offer through a combination of social media advertising (high reach) and direct search channels (high direct response) turned out to be the winner.
So we started with a combination of Facebook news feed ads and right side ads (great demographic targeting), as well as Display image and text ads (great reach) and Search text ads (great direct response).
By the end of the first month, it was evident that Facebook news feed ads should take the largest share. They generated an increase in search volume, so search ads had to run alongside them. We also created remarketing campaigns to target people who did not leave their contact, but showed interest in the product.
Conversion rate and the number of leads was doubled by the end of the first month (from approx. 1% to approx. 2%). This new strategy quickly reflected on the business results, so the bank got even more contacts than expected.
After this initial boom on the market, we had to narrow the target audience to keep the conversion rate this high. The offer got 'old' soon and that was the sign to change the communication (creatives and landing page). We achieved the goals that were set because we constantly optimized the campaign by expanding the target group, changing ads creative and reallocating the budget.
In the next flight, we knew exactly what to expect and how to react. We had a clear brief from the start and the client trusted our experienced team to create the right strategy. The client reacted promptly to changes we suggested, so we quickly delivered the expected results.
Do you have similar experiences with your clients? Tell us your story in the comments.