The client is one of the largest banking and financial services corporations in Asia. Headquartered in Singapore, the conglomerate has operations across multiple countries around the region.
The bank has a substantial budget for digital ad campaigns. In the past, however, a large portion of their digital advertisements were not optimized; their ads were reaching many viewers who either had no interest in their products or lacked the propensity to purchase anything from the bank.
In fact, if we look at the current digital ad landscape, 54% of digital advertising in general goes unseen, resulting in wasted impressions and opportunities. Marketing channels as well as audience are highly disjointed in this digital age. Audience fragmentation has made it nearly impossible for marketers to manually segment their target market and perform targeted selling. Also, if they were to miss out key segmentation variables or channels, opportunities to convert would be lost.
The bank realized that there was a need to optimize their ads – automatically and in a very intelligent manner.
Solution
The opportunity for the bank was to continuously find the best target audience for their ad campaigns. And this process had to be done automatically instead of manually tweaking the hundreds of parameters staring at the marketing team in the face.
The bank engaged Optimate, a campaign optimization engine that uses self-learning artificial intelligence (AI) to automate and enhance their digital advertising projects. Optimate has a delicately-designed AI system that uses data-driven logic, learning from historical campaigns and matching promoted ads and products with interest keywords in their proprietary knowledgebase.
Centered on the bank’s desired target market, as well as content from ad creatives, the system would dynamically search for the right audience. Optimate applied sampling-based methodology to augment the scale of data, and to generate the most appropriate target audience based on evidence provided by the data itself.
The ad optimizing engine was also able to diagnose the status of the client’s ad account via a Competitiveness Index (CI) from all the data within the account linked to their system. A/B testing automatically carried out on different ad creatives by the self-learning algorithms before being pushed to the target audience.
Further budget adjustment analysis was also provided to the bank to complete the system’s set of automatic ad campaign creation and optimization solutions.
Benefits & ROI
The bank’s overall ad effectiveness improved tremendously; the AI engine perpetually worked in the background to fine-tune and deliver the ads to the right audience, all in real-time.
In the two campaigns that were optimized by Optimate’s AI engine, the bank managed to achieve up to 36% increase in reach, 48% reduction in cost per link click, 41% reduction in cost per post engagement, and 50% increase in relevance score.
In a short span of 4 days, the bank managed to cut down their campaign cost by 20%.
And the good ROI will only get better as more campaigns are run for longer periods of time. The more valuable data is generated and analyzed by the AI engine, the more effective the ad optimizations will be.
Did you miss last week’s Optimate Webinar on the Future of Marketing 2017? You can view the recording here. The webinar covered common FB marketing mistakes, 2017 marketing trends, and how SMEs can tap into AI-driven, automated marketing tools for runaway marketing success.
As someone who runs digital ad campaigns, you stand to benefit from Optimate’s sophisticated AI marketing engine. You can sign up for one of their plans using the discount code OPTDECWEB.
Industry: Banking
Big Data Analytics Solutions Provider: Optimate is an AI optimization engine for multiple channels of marketing. Combining self-learning artificial intelligence (AI) to automate and optimize online marketing with a cloud platform, Optimate enhances businesses’ marketing activities by streamlining the process of serving the best content to suitable audiences using machine learning. Optimate now serves over 100 local and regional clients, ranging from Fortune 500 companies to local SMEs.