Case Study: Raiffeisen Bank Experiments with Innovative Online Formats

By Filip Kuna Jun 7, 2018

Reading 6 min

Customer acquisition in the financial sector is getting increasingly hard. The competitive struggle of 27 banks in Slovakia raised the cost per click in search above 2 euro. It’s one of the most expensive sectors in auction bids.

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Customer acquisition in the financial sector is getting increasingly hard. The competitive struggle of 27 banks in Slovakia raised the cost per click in search above 2 euro. It’s one of the most expensive sectors in auction bids.

 In this environment, Raiffeisen Bank wants to run creative acquisition campaigns, using new channels and tools. The online marketing goal is to get leads, raise awareness of the company’s products and their benefits, and engage the target group.

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 That’s why the Zenith media online team, which is responsible for the bank’s media purchases, likes to experiment with innovative communication formats. They believe that video is an excellent tool to deliver the campaign message. Raiffeisen Bank has been concerned about the effectivity of classic formats, like pre-rolls, for a while now. They see them as an annoying feature with a poor user experience, as the viewers only wait for the Skip Ad button to appear. The following case study is also available for download as a PDF.

Innovative video format

These are the reasons why the company decided to try the new video overlay format from Strossle. It’s a placement in recommendation boxes appearing on premium publishers’ websites. After finishing an article, the readers are in the mood to consume more content. An algorithm which determines the users’ interests recommends related content on the site. A link to the bank’s campaign is added to this mix.

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When the user clicks the link, a pop-up window starts autoplaying the video. As required by the client, the creative design also included an accompanying text and a button link to the bank’s contact form. This format draws high engagement because the users are in the mood to consume content, the content is marked as sponsored and fits the context, and the users don’t leave the publisher’s site. When compared with classic rolls, this format achieves above-average results in terms of video completion rate as well as in other interactions with the ad, which means the click-through-rate.

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Results

The goal of Raiffeisen Bank’s brand awareness campaign was to raise the awareness of its credit product. Key performance indicators included the click-through-rate to the landing page, visit duration, and bounce rate, that is, the proportion of visitors who left the site immediately. An additional indicator was the number of leads, meaning submitted contact forms.

 As to the website traffic quality, the average time on site was 130% longer and the bounce rate was 17% lower when compared with banner ads. At the same time, in comparison with all other monitored display formats, more than twice as many viewers filled in their contact details.

 The agency is happy with the campaign. Miroslav Pagáč, Digital Director at Zenithmedia, says: “Looking at the key performance indicators, we’re more than satisfied with the results – in terms of brand awareness as well as submitted contact forms. The campaign was a success because it targeted users in their ‘reading mode’, so they were willing to click the ad. When you offer quality content, your audience builds a positive perception of the brand behind it. That’s the added value of content marketing.”

  • + 130% time on site 
  • 2x more contact forms submitted 
  • 17% lower bounce rate

Pagáč adds: “Strossle offers a product suitable for all types of clients, no matter their size. I particularly like the progressive pricing rates, where the cost per click reflects the quality of the content. I appreciate not only the platform itself but even more the people who spread awareness of native advertising through various activities.”

About Raiffeisen Bank

Raiffeisen Bank in Slovakia builds on the foundations of more than 130 years of banking services provided by the strongest Austrian banking group, RBI Group. It’s a young and dynamic retail bank, which has during its five-year existence built a nationwide network of 63 branches and offers products and services for a simpler life. That’s one of the reasons it had the highest client satisfaction in Slovakia for three consecutive years. (Source: KANTAR TNS TRI*M retail survey)

 

About Zenithmedia

Zenithmedia Agency is responsible for purchasing media ad placements, creating communication strategies, and campaign planning and implementation on behalf of Tatra and Raiffeisen Bank. Zenithmedia has 250 branches in 74 countries, which allows them to offer to clients their international know-how and coordinate campaigns across countries and regions.

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