RateCity leverages programmatic to boost customer acquisition

The financial comparison provider’s commercial manager revealed how the company drove efficiencies through its programmatic journey

The online financial services sector is increasingly competitive, putting pressure on providers to boost efficiency and streamline processes in order to drive customer acquisition.

Speaking at the ADMA Global Forum 2016 in Sydney, online financial product comparison company RateCity’s commercial manager, Brett Karney, revealed how the company leveraged programmatic to better support its commercial partners, while strengthening customer acquisition in the retail banking space.

Launched in 2006 as a joint venture between Mi9 and private company LAAP, RateCity provides comparison rates for the financial services sector, including home loans, credit cards and term deposits.

“For consumers, it’s the place to go to when you’re interested in a financial product,” he told attendees. “To our financial partners, we help them find customers that are looking for their products.”

But the company had challenges around efficiency, buying media, leveraging data effectively and being able to centralise performance measures.

“This is what led us to our journey towards programmatic,” he said.

Karney said its display advertising strategy started out as quite a simple activity, but as the company grew, it became increasingly more complicated to manage the ever-growing number of partners.

“There were a lot of relationships we had to manage and we needed to be more efficient,” he said.

On top of this, the company needed to raise its return on media spend.

“We are a performance business, but we had a ton of valuable data that we just weren’t using," he said. "And as consumers were interacting with our site, they were telling us exactly what type of product they were looking for. But we weren’t using any of that data to optimise our ad campaigns. And we knew that if we could, then we’d get much better results.”

The programmatic solution

In order to get a single view of performance across all its publishers, and to leverage its data more efficiently, RateCity partnered with programmatic provider, MediaMath.

“As a result, we’re now bidding across hundreds of publishers and can move across them fluidly,” Karney said. “It saves us hundreds of hours a month. We’ve also worked closely with MediaMath to target high value segments on our site and start delivering the right ads to the right customers. That’s driven significant improvements in our ROI of all our activities.”

Moving from a traditional model, RateCity also wanted to push towards greater transparency and portability, Karney said.

“And we knew that ultimately, we wanted to bring programmatic in-house,” he added. “So we needed a vendor that could easily take what we were working on in the past 6-12 months and bring it in-house. And MediaMath allowed us to do that.”

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

Behaviour change, by design

​We’re living in an age of unprecedented change. We experience with Oculus Rift, invest with Acorns, consume video through Hyper, tune into Pandora and navigate with Waze.

Glen Jeffreys

Head of UX, Deepend Group

Chat bots: How to use them commercially right now

I’m sure that many of you out there have heard a lot about chat bots (aka messaging bots) recently, and the fact that they are here to stay is pretty evident by now.

Deniz Nalbantoglu

Managing director, Webling-Interactive

Top tips to uncovering consumer insights for business innovation

An in-depth understanding of consumers sits at the heart of what we all need to do, but we know it’s not always easy to uncover insights that will unlock a true innovation opportunity.

Matt Whale

Managing director, How To Impact

This was amazing and so inspiring. Thanks for sharing.

Vijay Kumar

Design thinking: Leading with experience

Read more

Great read, thanks for posting. MR should be seen as the holy grail for marketers and brands, as it offers an unprecedented capability to...

Barney

Interview: The business case for mixed reality in marketing

Read more

what a load of shit, and what a major stuff up... the new brand device is sterile, boring and just plain bad. Would be better suited to a...

James Yoi

Tennis Australia unwraps new brand identity for Australian Open

Read more

Cool stuff. https://blogs.adobe.com/digita...

Mary

Design thinking: Leading with experience

Read more

Conversation commerce is a double edged sword. Do it right and it can create customer delight. Do it wrong and it can lose customers.

Jinal Shah

Why conversational commerce is going to reshape customer engagement

Read more

Latest Podcast

More podcasts

Sign in