Unlike the old days, financial transactions have now become a lot easier to take place. There is an abundance of mobile apps in the market that can be used for both domestic and international transactions. This report shows that the world has seen a 90% increase in the install market share of finance apps, with the market being projected to hit the US$114.28 billion mark by 2023.
These clearly indicate a high demand for financial technology (FinTech). With high demand comes high supply and also a larger need to prove differentiation, leading to high investment in advertising. Research suggests that the sector's digital ad spend in the US is expected to reach up to US$19.62 billion by this year.
If you're looking to develop a profitable ad campaign for your FinTech firm, this is the best time to do it. Here are 3 of the successful ones that you can learn from!
Check out these Instagram Ad Campaigns by 3 FinTech Firms
1) Hello Bank!
Run Time:
20 November - 23 December 2018
Target Region and Audience:
France, Millennials
Performance:
The strategically managed campaign turned out to be a masterstroke for the finance brand. The ad campaign witnessed a 37% uplift in ad recall and 18% in favorability.
Goal:
The mobile banking app firm's key aim was to make the users, specifically millennials, aware of the app and its features. This was intended to boost ad recall and account opening intent.
Approach and Buyer’s Journey:
With the knowledge of the fact that Instagram has a maximum number of millennials, Hello Bank! Chose Instagram stories and feed to deliver ads to the users.
They roped in motion designers into their process and converted their still photo ads into a 10-second video for mobile. The video was targeted to people in the age group of 25-34 years based on demographics and interest factor.
Through the video ad, Hello Bank! Just narrated the uses and convenience of the app for busy millennials. The major factor that kept the users linked to the ad was the way it was created. The video showed the features provided by the app, along with other benefits of it.
The sole purpose was to make users install the app in which the brand succeeded in the end.
The Result:
The one-month-long ad campaign fetched awesome results at the end like:
37% increase in ad recall
21% lift in account opening intent
18% uplift in favorability
Products Used:
Instagram Stories and Feeds
2) TransferWise
Run Time:
May 2018 - July 2019
Target Region and Audience:
Worldwide
Performance:
The ingenious approach of including a step by step procedure for using the app in the ad fostered remarkable results for the brand. TransferWise saw over 9000 new customer registrations in the campaign period.
Goal:
With the use of Instagram Stories, TransferWise was focussed on skyrocketing the number of new customers on the app.
Approach and Buyer’s Journey:
TransferWise realized that cooking videos grabbed more user attention, so they produced their app video in the same way. The video included various dinner tables to show how diverse the usage of the app was.
Moreover, the brand also included the step by step procedure to make payments worldwide in the app. This was also similar to step by step process of cooking videos. The process included steps like choosing currencies, entering the amount, selecting the recipient, and finally paying them. The core aim here was to create an impact on the users for considering the app.
These video ads were converted into the 9:16 aspect ratio videos perfect for Instagram Stories. The sponsored ad also included a “Learn More” link that acted as a CTA. TransferWise precisely designed the process of nudging the user into installing the app.
Results:
The over a year-long campaign garnered the following results:
5-10% higher registration rates among new users
9,000 new registrations
40% share of the monthly users was driven by Insta Stories
Products Used:
Instagram Stories
3) PaySafeCard
Run Time:
2017
Target Region and Audience:
Europe and Mexico, men and women aged 16-30
Performance:
The state of the art ad campaign harnessed mind-blowing results for the firm. The ad campaign led to a boost of 2X in the click-through rates.
Goal:
The firm’s pillar goal was to lift the number of searches for the PlaySafeCard among the gaming audience. Moreover, they also wanted to generate quality interactions with the audience during the video game summer sale.
Approach and Buyer’s Journey:
Leveraging the video game summer sale season's power, PlaySafeCard aimed to reach a maximum gaming audience with its Instagram ads.
The ads created by the firm included an emergency box with the PlaySafeCard inside it. The caption on the box read, break glass in case of summer sale. This was done to engage the users with the ad and also tune their minds to buy the card.
These Instagram Stories ads were targeted to people of ages 16-30 years. The firm narrowed down to people who like games like Data 2, PUBG, and Final Fantasy. Further, they also targeted ads to website visitors and lookalike audiences.
At the end of the commercial, they included the “Swipe Up” option that led the users to a page where they could find the nearest PaySafeCard outlet.
Results:
The prepaid payments company witnessed various positive results at the end of the campaign like:
6,000+ searches for PaySafeCard sales outlet
2X higher click-through rate
76% lower cost per conversion
Wish to create your own Ad Campaign?
If you have made up your mind to create a top-notch Instagram ad campaign, you need to keep some crucial aspects in mind.
The described ad campaigns may look easy to run, but there is a lot of planning and strategy that goes behind them. You need to completely analyze your market and your audience.
Moreover, you should also make sure that you learn from your competitors. When all these aspects are checked carefully, then only can you can create a high-quality ad campaign.