Driving Leads Through Consumer Education for Finance Brands

/ Case Study - Social

/ The Brief

Driving Leads Through Consumer Education for Finance Brands

Coegi partnered with a financial services brand to develop an education approach to lead generation, using home buying guides, auto financing and growing a business.

/ Highlights

240,227 Impressions
0.079% Conversion Rate

/ Challenge

Making the decision to apply for an auto loan, mortgage, or even open a new checking account requires a significant lift on the consumer in terms of research and compiling information. When advertising to their target audience, many institutions lean towards offering financial incentives for opening an account or emphasizing their low interest rates. 

While offering financial incentives to your audience, such as receiving $200 for refinancing or opening an account can act as a compelling call-to-action, the consumer needs to be educated on the process ahead of receiving this messaging for it to be effective. Offering monetary incentives to an uneducated audience can lead to abandoned applications and higher costs per lead. Educating your target audience with branded collateral relating to the financial products a company offers positions your brand as an industry thought leader. This also builds trust with your audience and leads to greater conversion activity, and ultimately higher customer lifetime value. 

/ Solution

One of Coegi’s financial services clients, who regularly offers ebooks on various financial topics, observed the benefits of this educational approach to campaign messaging. This client promoted guides on home buying, auto financing, and growing a business, and Coegi adjusted their target audience based on the topics to ensure relevancy. 

The campaign uncovered that paid ads related to e-book downloads outperformed campaigns focused on monetary promotions such as money off at closing. In Q4 2021, the Fall Homebuyers ad containing information on the homebuying process was recognized by Facebook as having a high quality ranking and was served more frequently than its counterparts. When served this messaging, users were 125% more likely to download the guide and request more information when compared to messaging offering a discount on closing. This campaign positioned the client as an expert in their industry as well as built a sense of trust among their target audience. 

Messaging Homebuyer Guide Closing Cost Discount
Impressions 240,227 14,417
Conversions 190 5
Conversion Rate .079% .035%

Education-based advertising is often viewed as an upper funnel marketing tactic utilized to build awareness and inform potential users. However, this campaign showcased the down-funnel impact educational materials can have on conversions. Our client was able to use educational guidebooks to empower their customers when making financial decisions, ultimately building trust among the core audience and leading them to take action by requesting more information.  Brands looking to establish themselves as knowledgeable industry leaders in the services sector should prioritize educational materials to create trusting consumer relationships and efficiently nurture leads.

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/ Contact

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