Winner of 9th Annual Internationalist Awards for Innovative Digital Solutions
2017 Boomerang Awards Winner
Best Acquisition Strategy
Best Data Exploitation
Canadians greatly underestimate the cost of their ideal retirement. To encourage customers to come in for a customized retirement plan, Scotiabank’s 2017 Investment campaign positioned their advisors as experts who work with customers to understand their hopes and dreams for retirement.
But with so many different product offerings, how do you target the right person with the best solution for them? Our strategy was to collect first party behavioural data with user-initiated engagement ads and activate on it with better retargeting and lookalike audiences.
Traditionally, Scotiabank led separate marketing campaigns for each investment product. By partnering with the Contobox platform, it was possible to unify all retirement products into one ad unit and allow customers to navigate through it.
The creative had interactive ‘HotSpots’ with unique tracking technology. As visitors interacted with the ad unit and learned about each product, the platform would measure their intent and interest.
In the second part of the campaign Scotiabank activated on the 1st party data they had collected by serving optimized creative to lookalike audiences, as well as retargeting people who had engaged with particular hotspots.
Because the campaign was run on a Cost-Per-Engagement model, the brand only paid for 100% viewable engagements from interested users. In using a full funnel strategy with CPE, the brand was able to execute on several marketing goals at once: Impressions for awareness; Engagements for interest; Retargeting & lookalike audiences for decision & action.
The interactive unit proved to be 17X more engaging than standard display. The campaign drove 283% more leads to the site compared to the previous year. Resulting in a 157% improvement in retirement plan completions (36% increase this year vs 14% last year). Overall the campaign produced a Cost-per-conversion 66% lower than last year’s campaign.
More leads to the site compared to previous year
More retirement plan completions than previous year
Lower Cost-per-Conversion compared to previous year