A leading financial firm was running an online display advertising campaign promoting a subscription-based tool that helps consumers manage their finances. Initially, the campaign was doing well – new customers were signing up and the CPA of $50 was matching the front-end performance of previous online campaigns.
However, the firm thought there was room to improve performance and lower the CPA, particularly by increasing control over which consumers were being served the ad.
The firm utilized IXI’s digital financial and economic measures to identify and target prospects more likely to have desired financial characteristics, and lookalikes of previous subscribers. IXI’s digital solutions neither incorporate nor reveal any personally identifiable information, ensuring that audience privacy is maintained.
- First, the firm used IXI’s AudienceInsights solution to define the target audience based on attributes of past subscribers. The analysis showed that the ideal target audience had estimated total income of $77K to $187K and were concentrated in 16 Economic Cohorts clusters based on their likely financial and economic profiles.
- Then, the firm used IXI’s audience targeting solution to alter its online campaign and serve more ads to those consumers that were likely to have similar attributes as past subscribers.
By using AudienceInsights for audience analysis and IXI’s audience targeting to serve ads to likely qualified prospects, the firm was able to meet its goals:
- The campaign’s final week ended with a $19.30 CPA – a 62% decrease in CPA from the original average CPA of $50
- The firm narrowed the target audience by over 53% and significantly reduced spend on advertising to visitors that were unlikely to be qualified prospects
Chart: Ad Campaign CPA Decreases 62% with Financial and Economic Based Targeting