Learn how we leveraged a hypertargeted platform to strengthen our conversion funnel and boost new account funding for a leading regional bank.
In the competitive financial marketing landscape, Mower’s Performance Marketing team is always looking for ways to help our clients stand out—and third-party platforms are increasingly providing ways to do so. When Northwest Bank asked for our help in attracting new customers to open a high-yield savings account, we explored a wide range of opportunities to help them showcase their highly competitive rate.
Reaching prospective customers on a deeper level.
Through our team’s past work and knowledge of third-party platforms, we identified Smart Asset, a financial technology company that helps people make financial decisions, as an interesting platform to add to our campaign.
One of the most attractive parts of our client’s product was the rate—and Rate Table ads on Smart Asset allowed us to promote these great rates in a place where consumers are actively engaged and looking to open a new savings account. This sort of “direct comparison” placement further benefitted from the fact that Northwest’s rates were among some of the highest offered.
We were also able to leverage display ads across Smart Asset’s website to drive more customers to our savings account.
Another big benefit was the ability to attract more qualified leads. Many users of the platform had already shared some of their personal and financial information with the site—which could be used to ensure our ad would only be served if the users met our predefined campaign criteria.
The results? We got through to the right people.
Over the course of our buy, we saw a relatively lower clickthrough rate and a higher cost per click when compared to other campaign tactics. However, our Smart Asset placement drove the highest “total funding amounts” of all tactics by far with an estimated average funding amount between $15,000 – $25,000 per new account open. Not only were we able to gain customers—we were able to gain customers with the resources and ability to grow their relationship with our client further.
Finding the right mix is our specialty.
At Mower, we’re experts in helping brands in financial services and beyond reach their customers on a deeper, more meaningful level. Contact us today to learn more.