The competition on the loan market is huge nowadays and attracting potential customers has become very difficult. For their new campaign Raiffeisenbank has chosen Business Factory – a digital agency from Brno, with whom it has been cooperating since 2015.
The cooperation with Facebook Marketing partners has many advantages. The access to the latest technical features before they are available to other advertisers is one of them. Raiffeisenbank was therefore one of the first banks in the czech market to test the new feature called Dynamic Creative.
It is not always easy to find out what combination of text and image works the best for your target group, especially when you are targeting bigger audiences. However, new facebook algorithm is able to solve this issue for you automatically.
You can now save the time you would spend testing various creatives, but that is not all! As mentioned above, Dynamic Creative allows you to show the right combination of text and image to the right customers, so only the ad that is likely to attract or push a specific user to perform a desired action is being delivered.
However, we did not want to rely only on the algorithm. That is why we decided to use both Dynamic Creative and classic ad format. And what were the results?
- We reached nearly 300 000 users that are currently interested in bank loan
- Campaigns with Dynamic Creative had 6x lower cost per lead that those with standard ads,
- 5,90 % was the conversion rate for Dynamic Creative.
The goal of the campaign was to point out all the main benefits of “Quick Loan” product and reach as relevant audience as possible. The ads for bank loans are usually quite expensive but this was not the case. We were positively surprised by great results that we could achieve thanks to new ad format.
The whole campaign was based on the same story as the TV ad. We could see a charismatic detective, Arthur, accompanied by his beautiful assistant Victoria just like in the previous spots. Due to the loud music, Victoria was unable to hear the meaning of Arthur´s words which resulted in a little pun based on the similarity of the words “Puccini” and “Půjč mi” (czech translation for “Lend me money”).
The Quick Loan product will reward its customers with interest rate only 4,9 % which is currently the lowest you can find. Apart from presenting the obvious benefits, we had to prepare the strategy so we are able to beat our competition and bring good quality leads at the lowest price possible.
We tested standard ad formats, that were used previously (single image and carousel), Dynamic Creative and video ads showing the short spot mentioned above. Then we made a video engagement audience and remarketed people with our offer.
The banners in our carousels were showing benefits of the Quick Loan by using the same slogan as the tv spot.
As we have indicated above, the Dynamic Optimization has completely won over the standard formats, which had very small amount of conversions.Therefore we switched off these ads almost immediately in order to have only the best performing ads.
“We were positively surprised by the results of the “Quick Loan” campaign. Dynamic Creative, which was co-developed by Business Factory, is very likely to be used in our future campaigns as well.” Jakub Černý, Digital Marketing Specialist