Starling Bank - Banking on Social Media Success
Starling Bank is a disruptor in the banking industry, offering a mobile-only bank account putting people back in control of their money. They wanted to raise brand awareness & boost the number of people who were opening accounts, and lower acquisition costs for new customers.
To achieve this, Starling used SDK as part of its new marketing strategy. This improved their media efficiency as SDK ensured that their mobile app installs ads would not be sent to people who had already seen them. They were also able to measure how the different ad formats performed allowing Starling to optimise its ad creative.
Starling also took advantage of Facebook's targeting tools, building a lookalike audience of people who were similar to their existing customers from a source audience.
Successful Social Media Campaign - The Results
By Improving their media efficiency and honing its ad creative, Starling found the following results:
- August - September 2017 - 36% decrease in cost per bank app install
- November 2017 - 44% of account opens from all paid platforms were attributed to Facebook and Instagram
- November 2017 - 32% of leads from Facebook converted to accounts
Aida Bejgane, Performance Media Manager, Starling Bank - “Facebook has given us the tools to advertise our product to people for whom our mobile-only current account is most useful, and acquire new customers at an order of magnitude below the industry average for cost per acquisition.”
Interested in Targeted Advertising?
Through our high-level targeted Facebook advertising expertise, expert content production, and an innovative in-house content delivery platform, we specialise in sharing your brand message on Social Media to exactly the audience you want to be viewing it, at the most effective times, for the most effective cost, to drive more sales and brand awareness to your business.
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Has this blog post sparked your interest? Read our post on how Monster benefited from the use of Social Media!
Source: https://www.facebook.com/business/success/starling-bank
