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F500 FinServ Brand Increases Luxury Product Awareness, Reduces Costs With Mixed Placement Across Facebook and Instagram

Opportunity

A Fortune 500 financial services brand wanted to maximize awareness for a luxury credit card, as part of a larger effort to increase card usage.

Strategy

The brand’s marketing team relied on SocialCode to drive wide awareness at low cost across Facebook and Instagram. To do so, SocialCode focused on scaling qualified traffic to a landing page describing the card’s benefits and packages for purchase. Key areas of focus were:

  1. Build a qualified audience to maximize precision: Since the campaign was for a luxury credit card, SocialCode targeted existing cardholders, website visitors and people with travel interests who make at least $150,000 annually.
  1. Test Facebook exclusively: SocialCode launched the campaign on Facebook exclusively, spending $4300 per day for the first few days of the campaign.
  1. Test Facebook and Instagram together: Cycled in daily Instagram spend while throttling Facebook down, for a blended daily spend of $5300 as campaign continued.

Results

Analysis shows SocialCode drove higher awareness at reduced cost across both Facebook and Instagram compared to Facebook alone, while managing a blended daily budget 25 percent larger.

Increased volume of offsite clicks 140 percent when both Facebook and Instagram scaled, compared to when only Facebook scaled.

Reduced blended Facebook/Instagram CPLC 78 percent and CPM 6.5 percent compared to metrics during the Facebook-only activation.

Achieved more incremental conversions from Instagram compared to Facebook, demonstrating the platform’s low-funnel value proposition for luxury campaigns. SocialCode is continuing to work with the brand and its data partners to determine the impact to average order size to continue refining the campaign’s direct-response strategy.

 

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AUTHORS

  • Ben Weiss, Content Strategist

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