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BANKING

Leading Bank Maximizes Digital Campaign ROI

The Challenge

Our client works with a large U.S.-based multinational banking and financial services corporation that had disappointing digital campaigns results. Costs per acquisition (CPA) were high and acquisitions were lower than expected. In addition to driving down CPA for new investment account customers, the bank wanted to increase new prospect traffic and generate overall higher returns on investment. The bank recognized that optimizing digital campaigns across many different variables is vital to ensuring expected results and avoiding spend on irrelevant sites and audiences.

Our Approach

Cognizant's Marketing Operations team drew on its expertise with remarketing to optimize the bank’s digital campaign. We recommended streamlining the new account application process and developed strategies for improving overall prospect targeting and remarketing investment services to existing premium customers.

Our analysis revealed campaign spend was used on sites that were either irrelevant to the bank’s messaging or not trusted by prospective customers, so we used context-based tactics that combine finance- and investing-related page-level categories and keyword contextual techniques to ensure ads appear on sites with keywords, themes and topics relevant to its target segments.

After evaluating the best-performing line inserts, which customize ads to segment search terms, we advised the bank to allocate resources to well-performing recency lists that target potential purchasers who have shown interest in the last 15 days. We removed under-performing line inserts and those using negative keywords to prevent the bank’s messages from appearing on irrelevant or otherwise inappropriate sites.

Context-Based Tactics Improve ROI

Cognizant helped refine the bank’s strategy by optimizing relevant site spend, existing customer remarketing efforts and messages to prime, ready-to-buy customers. We used customer relationship management data and user-defined attributes such as search behavior to refine and narrow the bank’s funnel and reach these customers. Websites that did not perform or could potentially harm the bank’s reputation were blacklisted.

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90%

reduction in CPA

$2.7 million

in incremental revenue

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