Our client is the consumer banking division of the financial services multinational, Citigroup.
Columbus & eMitch manage our client’s online media buying in Australia. Together we develop cross channel strategies and ensure that our client is competing with the “Big 4” Australian banks in the digital space.
Our client employs a social manager that actively develops their presence online. In order to do this they maintain a brand page on Facebook and a feed on twitter. Columbus supports our client’s Facebook presence by purchasing targeted marketplace ads.
Our client’s natural reach on Facebook in Australia is limited to 16,000 likes in comparison with the US version of the Facebook page which has 630,000 likes. In addition due to Facebook’s algorithm only 16% of the page’s likes receive organic posts, meaning that on average our client can only reach 2,560 users when they content on their brand page.
Reacting to Competitors
When the biggest player in the market, Commonwealth Bank, pushed a campaign on Facebook promoting their “$10 international money transfers” users on the social networking site immediately reacted by pointing out that our client had a better offer.
We saw an opportunity to capitalise on our client’s position as an international bank with a fee free international money transfer.
Metrics to consider
In this case the primary objective of the campaign was to drive users to apply for our client’s Plus Account. In addition we monitored the ad’s reach and user engagement.
A good way to judge a Facebook ad’s performance is to look at click through rate. On average a Facebook promoted post with a CTR above 1 % is performing well.
- “How can we capitalise on user feedback to drive sales?”
- “How can we drive sales from a channel that is usually reserved for brand messaging?”