When you think about creativity, your mind may not jump immediately to the finance industry. Whatever the stereotypes about the finance industry may be, don’t think for one second that the most successful firms out there haven’t used their Facebook advertising strategies in creative and innovative ways to maximise their returns and stand out amongst the competition. The industry that specialises in money is going to be an industry that knows what to do with it – financial firms have the capital to invest in top creative agencies and to hire the best Facebook consultants, meaning that no matter what industry you’re in, taking a look at what the financial sector is doing with their Facebook Ads is worth your time.

 

 

Principles Remain the Same

 

 

 

The premise of Facebook Ads remains the same across all industries, and the finance industry is no different.Having anexcellent biddingstrategyis essential to controlling your ad spend.Facebook ads are essentially a worldwide auction, where advertisers have to compete for real estate to be seen by the most desirable audiences. The winner is just the highest bidder – therelevance scoreof your ads also directly affects the results of the auction. Calculated by weighing positive ad interactions – likes, clicks, and shares – with negative interactions – users hiding ads – Facebook determines how ‘relevant’ your ads are to your set audience.

 

 

Precise targeting is a must.Again, therelevance scoreof your ads is directly impacted by how effective yourtargeting is. The better your targeting, the higher your rate of return on your ads. Through thorough research and constant testing, you will discover the audience segments that are most likely to respond to your ads. We recommend working with broad segmentations at first to allowFacebook’s algorithmto discover new profiles to whom you will show your ads. You can also uselookalike audiencesto target those similar to your existing clients.

 

 

 

Finance Takes on Facebook

From credit unions to banks to emerging fintech companies, the Finance industry have some fantastic examples of Facebook ads that you can take some great lessons from.In this blog, we will cover how major players like BNL BNP Paribas, Wealthsimple, Garanti Ödeme Sistemleri, and Immobiliare.it have used different Facebook Ad strategies to achieve their specific goals.

 

 

 

BNP Paribas: Using Messenger Bots and Story Ads

The Italian branch of the international banking group BNP Paribas was able to improve their brand awareness through Facebook Messenger and the use of Story Ads. Of course, a key goal was to increase sales, but they also wanted to make consumers more aware of their stance on sustainability.

 

Targeting consumers that were ready to take on a mortgage, but not yet loyal to a particular brand, BNL BNP Paribas decided to create a campaign that had both video ads and ads that click through to Messenger.
By also integrating their campaigns with Instagram Stories, BNL was able to increase top-of-mind awareness for themselves.The Messenger Bot that they created, affectionately called Hank, answered any queries that a user may have had to guide them through a series of questions to generate a highly specified quote.Did it work? Indeed it did.By combining Facebook, Instagram, and Messenger together to create a highly engaging awareness campaign, BNL was able to achieve a 5.5-point increase in action intent to request a mortgage, and an 8.8-point increase in ad recall.

 

 

 

What You Can Take Away

AI-poweredMessenger Bots are an increasing trend in Facebook advertising strategies. These Bots greatly expedite the customer service process – and can save a significant amount of money in terms of salaries as well!

 

Facebook Messenger ads currently earn 15 times more engagement than standard ads.
Messenger gives marketers the ability to reach customers instantly, improving both user experience and trust, boosting end sales down the line. Currently, there arefour typesof Messenger Ads that Facebook offers: Click-to-Messenger, Sponsored Messages, Messenger Inbox Placements, and Messenger Stories Placements.

 

You can use simple ads or create customised responses, like BNL did.Another key point is the cross-integration of different Facebook advertising tools to achieve their overarching goal.By implementing video ads, Instagram, Story ads, and Messenger, BNL used multiple platforms under the Facebook family in their campaign. Don’t limit yourself to just one ad format when setting out your campaigns.

 

 

 

Wealthsimple: Leverage Influencers

Your advertising doesn’t have to only be focused on your own brand. is also a great way to provide sponsored content to increase brand awareness and get highly-targeted traffic onto your site.

 

 

 

Canadian investment management serviceWealthsimple used a number of influencers to run ads for their blogs that featured a variety of different influencers, including founder ofStockXJosh Luber, discussing a range of topics in finance and wealth management.

 

 

 

 

 

Why Does This Work?

The whole premise of influencer marketing is to leverage well-known individuals or characters that are either relatable or inspirational to your target audience. In the case of Wealthsimple, we see that the brand partnered with aspirational influencers to hook in a user, taking them off Facebook and onto their website.Wealthsimple’s target market are millennials looking to invest, so it makes sense that they have chosen to pair with someone like Luber. But your brand doesn’t have to target millennials in order to leverage the power of influencer marketing.

This is an investment too – you will obviously have to pay the influencer and create the content, but this gives you a great opportunity to get creative and make something that stands out. Especially in an industry that can be traditionally viewed as a bit stale.

 

 

Garanti Ödeme Sistemleri: Test Different Ad Formats

Sometimes all it takes to lower your cost-per-result (or CPR) is a simple change in shape. Sound crazy? Maybe, but Turkish bank,Garanti Ödeme Sistemlerilearnt that a simple solution sometimes all that is needed.By implementing a simple change, Garanti increased their CTR by a whopping 24% and lowered their CPR by 19%.

 

What was this simple change? Instead of a horizontal ad, they used a square one.The change was made when Garanti decided to increase demand for Turkey’s number one credit card: the Bonus Card. In an already-saturated market, the goal of their campaign was to find new customers and encourage them to sign up. Their conversions were measured by the number of complete credit card applications.

 

The brand had a simple question: would their ads perform better if they took up more of the screen?Testing two versions of the same advert – one horizontal and one square – they found that the square ads did indeed live up to their hypothesis!

 

 

 

 

 

Complex Problems Can Have Simple Solutions

The only way to know whether or not a theory is viable is to test it.Gut feelings often have an element of truth to them, and Garanti acted upon that feeling in the form of testing. Facebook Advertising is a never-ending game of trial, learn, and improve.If you want to test a new advertising strategy, we always recommend that you start out with a small budget – £10 a day is a great place to start. Keep in mind though that not every trial will be as successful as that one, so you definitely do not want to overhaul your strategy in one swoop without knowingfor a fact that this new strategy has a higher return than the previous one.Another important note:make sure you are only testing one variable at a time.Garanti only changed the shape of their link ad. Not the header copy, not the image, not the CTA. If you change more than one variable in an ad set, you will skew your results, so that you can’t be 100% sure of what element of your advert was the factor that influenced any change.

 

 

 

Immobiliare.it: Don’t Forget to Retarget

Facebook’s Dynamic Adsare an amazing way to recapture the attention of users that have already interacted with your brand.Using theFacebook Pixelin combination with Dynamic Ads allows you to retarget those who have already expressed some level of interest in your brand, be it by browsing your website, or interacting with something you have posted on social media.Another Italian example – hey, maybe pasta and holidays are just on our mind –Italy’s number one property listings site,Immobiliare.it, wanted to retarget their site visitors. Their conversions were measured by the number of people that requested to chat with a member of the sales team after seeing a specific property online.

By targeting their Dynamic Ads to users that had previously interacted with the Immobiliare.it website or app, the ads were shown to the relevant audiences. Across Facebook, Instagram, Messenger and the Audience Network, this retargeting strategy increased the brand’s conversions by 16%!

Snatch those Easy Conversions

If you’re not retargeting, you’re missing out on easy conversions.

Why?

By retargeting your audience via Dynamic Ads and the Facebook Pixel, you are reminding your target audience of your brand.The Facebook Pixel ensures that your Dynamic Ads serve the right ads to the right audience at the right time.Think of the Pixel as the wallflower at the work drinks. Essentially, it’s a small snippet of code that rests cosily on your website, happily tracking the events that take place on your website. The Pixel then tells the bar owner (Dynamic Ads) who was at the party, and what they were drinking (what your site users were interested in).

 

Dynamic Ads now knows exactly who likes tequila, who likes rum, and that Chad from HR secretly loves his piña coladas. The next day, when everyone is back at work (scrolling through Facebook), Dynamic Ads shows up with a sample of everyone’s favourite liquor or piña mix – and a sneaky offer off their exact favourite cocktail next time they drop by.You canget hyper-personalised with your offers. You don’t need to offer a discount in order for your retargeting campaigns to work, but as always, test to see what gets you the desired result.

 

 

 

Final Thoughts

Utilise Facebook Ads to achieve more conversions, drive traffic to your website, and increase brand awareness. These advertising strategies were specific to the Finance industry, but the principles of Facebook Advertising are the same across all industries.If you’ve enjoyed this blog, check outFiled’s other blogsto learn more about Facebook Advertising and AI! Filed is an AI-powered Facebook marketing platform that is an all-in-one solution built to maximise social media campaign performance.

 

 

 

 

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