In the fast-evolving landscape of Southeast Asia, the demand for financial services is soaring, fueled by a burgeoning middle class and a tech-savvy populace. As the region embraces digital transformation, platforms are leveraging social media to amplify their reach. Instagram, with its vast user base and visual appeal, has become a powerful tool.
In this blog, we unravel how three innovative financial platforms have capitalized on Instagram's potential to extend their influence and cater to the financial needs of this dynamic and burgeoning market.
1. Flip: Indonesia
With more than 10 million users, fintech-based payment platform Flip wanted to boost its app installs.
Their Objective
Flip wanted to see whether branded content ads would motivate more people to install its app and reduce the cost per install.
Solution & Approach
Flip partnered with two well-known creators to produce branded content ads that ran across Instagram placements, including feed, Stories, Reels and Explore. The video ads, which used the app installs ad objective, featured the creators talking about the benefits of Flip and included a call-to-action button that encouraged people to install the app.
To gauge the impact, Flip conducted an A/B test that compared the two new branded content ads against a campaign of eight photo ads that used Advantage+ placementsto deliver the ads across Facebook, Instagram and Audience Network. During the five-day campaign, Flip showed all ads to a broad audience of people between the ages of 21–50 in Indonesia.
After testing branded content ads in April 2022, Flip discovered that the creator-driven approach was more cost-efficient than its business-as-usual campaign.
The Result
The Instagram campaign turned out to be a resounding success for Flip and helped it register 5.5X lower cost per install. Also, the number of “complete registration” actions went up by 15X after the app install.
2. blu: Indonesia
A mobile banking app from well-known Indonesian financial institution BCA Digital, blu aims to help Gen Z manage their money better.
Their Objective
The blu by BCA Digital team hoped to raise awareness of its bluSavings feature and boost brand favorability, especially among Gen Z audiences in Indonesia.
Solution & Approach
Hoping to spread the word about the bluSaving feature—which helps customers manage cash flow and visualize both short-term and long-term funds—and resonate more deeply with a younger audience, the blu by BCA Digital team partnered with a popular creator for a partnership ad campaign that ran in the Reels placement.
The Reel showed a well-known personality who took the “bluSaving Challenge” by doing a workout alongside a virtual brand ambassador while talking about why it’s important to save money for the future and any unexpected expenses. The Reel was clearly marked as a paid partnership with blu by BCA Digital and encouraged people to download the app.
The Result
blu’s Instagram campaign was a massive success and led to a 4.8-point lift in standard ad recall among people who saw the campaign and a 6.1-point lift in people aged 18-24. Also, there was a 4.6-point lift in standard favorability among people and a 5.7-point lift in standard favorability among people aged 18–24 who saw the campaign.
3. GetStocks: Vietnam
GetStocks, an innovative online stock brokerage, worked closely with Facebook and Instagram Marketing Partner Bidalgo on a smart user acquisition campaign.
Their Objective
GetStocks wanted to attract new users and increase brand awareness on Facebook and Instagram, two platforms that complement GetStocks’ social elements.
Solution & Approach
By working with Facebook and Instagram Marketing Partner Bidalgo, GetStocks was able to optimise its entire campaign and ensure that it was getting the highest possible return on ad spend, from the creative concept right through to ad bidding and placement.
Early research by GetStocks helped it to better identify its audience’s likes and interests, which allowed it to create relevant and compelling creative that it could test and refine. This was especially important because GetStocks was an early adopter of Instagram ads. With strong experience in mobile app install campaigns, GetStocks and Bidalgo were able to accurately use Facebook’s range of targeting tools, including Custom Audiences, likes and interests, to create an exciting and highly meaningful campaign.
The Result
The Instagram campaign by GetStocks performed well above expectations and helped the brand register a 60% decrease in cost per install. Also, there was a 2x increase in the payer’s rate.
Wrapping Up
In a region fervently adopting digital solutions, leveraging Instagram proved strategic for the financial platforms mentioned above. Seamlessly integrating with daily social media interactions, they effectively widened their outreach, meeting the escalating financial service demands of Southeast Asia.
We’ll be back with more insightful blogs for you. Till then, stay tuned!