en

SUCCESS STORY

Sofinco acquires new prospects through Facebook and Instagram

Sofinco's efficient retargeting strategy on Facebook and Instagram

The Challenge

Sofinco, a subsidiary of the Crédit Agricole group, is a major player in the French banking sector, proposing a wide range of loan products and counting several million customers in France.

Sofinco understands the value of using social media trading as a way to reach targets differently within a highly qualitative environment of high interest.

While retargeting strategies generally perform well in respect of pure performance, Numberly decided to action a more complex mechanism to acquire new prospects and accompany them throughout the conversion funnel using all the perks that social campaigns have to offer.

The Solution

A full journey that enabled the brand to switch between messages effectively

3 phases, 3 messages, 3 objectives

Numberly deployed 3 complementary phases, each one dedicated to a specific goal. This allowed for targeting each audience segment with a particular message through a particular format.

  • Awareness: enhance brand reputation by establishing Sofinco as a Smart Partner.
  • Consideration: drive traffic to the website via campaigns dedicated to each stage of the customer lifecycle e.g. moving to a new house, arrival of a baby, holiday etc.
  • Performance: finalize the conversion via performance-driven messaging. Push key selling points with a strong CTA.
Awareness, consideration, performance

The Results

3 core KPIs:

  • Reach: 62% of the total reach at a cost 3 times lower than for the other phases
  • Visits: 55% of visits at a cost 3.5 fois lower than for the other phases
  • Final cost estimates: triple the volume at half of the cost

Each phase exceeded the results expected, producing a very competitive cost per objective compared to the other phases.

Awareness:

A significant reach producing high visibility for Sofinco at an ultra-competitive cost.
During the campaign, the share of influence on social networks dominated the top 10 competitors.
The brand lift carried out in parallel on this phase demonstrated a recommendation uplift of 2 points, 25% higher than the average within the banking sector on Facebook.

Consideration:

Engaged targets (95% completion rate) had a 2 times higher approval rate vs. overall acquisition.
The “newborn” campaign focused on a key milestone. Its performance excelled, with a cost per visit 28% lower. Personalizing the message to the target is therefore a key focus of campaign development.

Performance:

Targets that are committed to upstream phases proved to be 54% more qualified.
Performance campaigns saw their acquisition costs fall by more than 50% over the test period.
The campaigns continued over the end-of-year period.

95 %

completion rate

50 %

drop in acquisition cost

Working with Numberly teams on the subject of social ads is a real pleasure. The teams are proactive and business-oriented, which is perfectly in line with our philosophy. We conducted a lot of tests together in 2018 in order to make social ads in 2019, a credible and complementary lever to support our branding and commercial objectives. This new year will be a year of full implementation based on the lessons learned last year, and I am confident that we will deploy many strategies together and exceed the objectives set.

Julien Provost-Langot, Head of Social Network Development, Crédit Agricole Consumer Finance