Discover how Tesco Bank managed to use straightforward Facebook ads to substantially increase sales of their Foundation Credit Card.
Founded in 1997 as Tesco Personal Finance, Tesco Bank now manages over 5 million customers. With an ethos of serving their customers a little better every day, the bank created a simple and easy Facebook ad campaign to encourage sales of their Foundation Credit card. Due to their use of Facebook’s conversion objective, Tesco Bank saw a 2.2x rise in applications for their Foundation Credit Card which further resulted in an 85% increase in successful sales.
As a heavily consumer-focused bank, it takes pride in its range of easy and convenient banking and insurance products, which are created purely with the ideal Tesco customer in mind. Tesco Bank wishes to manage their shoppers’ money better and encourage new customers entirely. The bank’s main goal was to highlight their Foundation Credit Card, bring new customers, and measure how well Facebook ad campaigns could accomplish this.
Tesco Bank’s ad campaign was created with simplicity in mind, using still images, videos and carousels. All of these ads were produced to convey how their product can help improve their customer’s credit scores. To increase the likelihood of successful sales, the bank targeted those most likely in the market for a credit card, therefore they’re just as likely to be accepted for it.
Their campaign success is largely owed to the use of Facebook’s custom audience targeting option. They used this tool to target both men and women living in the UK, over the age of 18. The custom tool will then select appropriate audiences based on your chosen criteria. The Facebook pixel will then retarget the ads to people who have previously visited Tesco’s website without signing up for a credit card, resulting in only targeting audiences that are potential customers. The Custom Audiences Targeting tool can then distinguish common features of the original audience, and the tool will then present the same ads to like-minded consumers.
Tesco Bank thus saw a 2.2x rise in applications for their Foundation Credit Card which further resulted in an 85% increase in successful sales of the credit card. It’s pretty clear to see how Facebook’s custom audiences targeting option and their Facebook pixel can create successful campaign results. Tesco Bank is proof of this.
If you enjoyed this blog, read more about social success here. This blog was originally published by Facebook for Business.