This case study details how Equifax helped a financial services firm challenge by wasted online ad spend.
Challenge
Identify and target wealthy online visitors to increase new account opening balance
Majority of ad impressions from a recent online acquisition campaign were served to prospects that were unlikely to be qualified
For its next campaign, the firm wanted to identify and target wealthy online visitors, while not using personally identifiable financial information
Solution
The firm utilized Equifax Data-driven Marketing for a real-time online targeting solution.
CONSULTED with team and discovered over 78% of ad impressions were served to visitors estimated to have less than the desired invested asset levels (< than $100,000)
IMPLEMENTED Digital Audience Targeting solution for its next campaign to differentiate online consumers in real-time based on their expected financial profiles
- Only target visitors likely to have over $100,000 in invested assets
Before implementing audience targeting: over 78% of impressions are served to likely unqualified visitors.
Results
By reallocating campaign impressions, the firm was able to:
- Target only those visitors likely to have over $100,000 in invested assets.
- Increase expected opening balances for new accounts from $10,000 to over $18,000, an 88% improvement
- Cut provisioning expenses on new account setup efforts
- Increase brand recognition among affluent users
Results may vary based on actual data and situation.
