Banking and Financial Services Company Nets 32% ROI Increase

Situation:

This 100+ year old banking and financial services company is part of one of North America’s largest and most respected financial service corporations, boasting over 6,000 locations. The company offers personal and business banking, mortgages, credit cards, online banking, bill payment, and other products. Its marketers use a number of channels to generate online applications for several of their key product lines. They specifically sought to gain a better understanding of the combined performance of their paid search and online display channels from a single “source of truth,” learn the true impact of each channel on their “account-application-through-new-account-approved” conversion funnel, and gain insights that would allow them to optimize their overall ecosystem performance.

Challenge:

Prior to implementing use of the IQ Intelligence Suite™ of cross channel marketing intelligence software products, marketers at this organization were spending $25 million annually on paid search and online display advertising across multiple business units (BU). Unfortunately, their marketers were managing these channels as separate silos and as separate business units with no quantifiable knowledge of the cross channel or cross-BU synergies or impacts of their efforts. As a result, they were unable to make informed decisions about how to effectively integrate, or manage spending among these channels to maximize their total ROI.

Goals:

The client wanted to more effectively implement and integrate their paid search and online display campaigns with a goal of increasing the combined ROI of those channels by 25%, and the number of year over year conversions by 15%.

Solution:

The client provided Visual IQ with access to the campaign performance data directly from their paid search initiatives that was collected directly from AdWords and AdCenter, as well as from all their online display advertising efforts – which was obtained from DoubleClick and Mediaplex. Visual IQ consolidated and integrated data from these disparate sources, and configured the user interface and reporting functionality of their software to track and measure marketing exposures and conversion behavior across business units, channels, campaigns, and marketing tactics. As a result, marketers were able to view the performance of all their paid search and online display advertising campaigns through a single interface.

Next, using the IQ Envoy software product marketers were able to leverage the Visual IQ TrueAttribution process to produce and utilize a set of TrueMetrics insights that accurately reflected the impact of each channel, campaign, tactic, and BU on the other. Through the insights gained from Visual IQ products, marketers were able to identify and implement changes in their individual campaign strategies, as well as to their BU and channel integration strategies, that significantly increased their combined ROI.

Results:

As a result of the insight provided by Visual IQ cross channel marketing intelligence software products, over a three year engagement, the client was able to implement changes to their campaigns that produced a year over year average monthly increase of 21% in the number of conversions and a 32% increase in ROI — exceeding their increase in conversion goal by 40% and their increase in ROI goal by 28%.

“Visual IQ’s, software has enabled us to compare the results achieved through multiple channels and campaigns side-by-side, and has shown us the influence that each effort has on the other. This empowered us to almost immediately start making more informed decisions, which over lime have led to significant increases in ROI. These would not have been possible without Visual IQ’s tools and their staff’s support.”

Vice President of Digital Marketing, Fortune 500 Financial Services Company