How prospecting and retargeting are paying dividends for Pepperstone

Financial services company share how its foray into digital advertising through technology has boosted clickthroughs and conversions


You may not get a second chance to make a first impression. But in online advertising, that may not matter.

For online foreign exchange and CFD broker, Pepperstone, a foray into online retargeting with specialist provider, AdRoll, has since expanded to a broader lookalike targeting that has boosted clickthroughs and overall conversion.

“We didn’t have a large branding budget, and being a financial services company, our funnel is quite long,” says head of marketing, Sheldon Chapman. “We were looking for a cost effective way of getting out messages out there.”

Chapman says his company engaged with AdRoll two-and-a-half years ago, and had the retargeting system up and running in under two weeks, with immediate results. Pepperstone saw a 25 per cent increase in overall conversion rates, with cost-per-acquisition staying under $8, and Chapman attributes nearly 20,000 new conversions in the last six months to retargeting.

“When we first started to use AdRoll we used very basic segmentation,” he says. “Since then we have gone out and built our segmentation models to be a little more complex than most companies.”

Chapman says there are various points within the conversion funnel where there is significant drop-off, such as when prospective clients are encouraged to sign up and provide their ID, get the account approved and make a deposit to start trading.

“What we have done is look at targeting clients that have dropped out within the funnel, such as by sending messages offering them assistance in making deposits, and trying and encourage existing clients to trade more during,” Chapman says.

“Since then, we have dived deeper into our data and identified pages on our website where clients are more likely to convert. And from there we have built out our retargeting campaigns by serving clients ads they are interested in.”

But Chapman says the biggest uplift has come since adopting AdRoll’s Prospecting service, which he says has boosted click-throughs to 0.206 per cent and delivered more than 15,000 new users to its site.

“With prospecting we use CRM segments where we can go and target lookalike audiences through Facebook as well as through the Web,” he says. “Initially we were seeing a 50-50 split between prospecting and retargeting. Now that is 60 to 70 per cent in prospecting, with the remainder in retargeting.”

Chapman says the use of a single tool for retargeting and prospecting across both social channels and the broader Web is well suited to an online business such as Pepperstone, which has a very lean marketing team.

“Pepperstone is an early adopter of technology so we are keen to jump on anything new in the marketing sphere,” he says.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Join the CMO newsletter!

Error: Please check your email address.
Show Comments

Supporting Association

Blog Posts

Disruption Down Under – What’s Amazon’s real competitive advantage?

Savvy shoppers wait in anticipation, while Australian retailers are gearing up for the onslaught. Amazon’s arrival is imminent.

Change across the board: Why boards need to digitally evolve

Traditionally the non-executive board of a company acts in an advisory capacity - attending monthly board meetings to offer overarching advice and guidance typically focusing on:

Jodie Sangster

CEO, ADMA

The most desirable customers you’ve overlooked

“What will really move the needle?” This is a question that keeps leaders awake at night. And at the intersection of some of their top priorities – finding pockets of growth, redefining the customer experience, and making an emotional impact – lies a latent market: Their diverse customers.

Being aware of regulations or guidlines is just the start. As our CEO Emma Lo Russo stated exactly two weeks ago at an event we supported...

Alan Smith

​Are the Wild West days of influencer collaboration over?

Read more

Rebranding is always nice solution to get better organisation. Businessman may apply certain special services (for example, https://www.l...

David Hill

CMO interview: Spearheading the global rebranding of OFX

Read more

Thank you so much for sharing this article.Top Digital Marketing company in Bangalore

Way To DM

Predictions: 17 digital marketing trends for 2017

Read more

Thanks for the great article Jodie, agree many boards and senior execs are operating in outdated modes, just as we need some reverse soci...

sharyn

Change across the board: Why boards need to digitally evolve - Data-driven marketing - CMO Australia

Read more

I'm looking forward to Marketo moving toward providing these type of engagement metrics. The vision is there - what happens next to the p...

Emily Dick

Marketo CEO: Stop using outdated metrics, start basing marketing on engagement

Read more

Latest Podcast

More podcasts

Sign in