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 newsletter!

Or
Error: Please check your email address.
Show Comments

Blog Posts

Social purpose: Oxygen for your brand health vitals

If trust is the new currency, then we’re in deep trouble. Here's why.

Carolyn Butler-Madden

Founder and CEO, Sunday Lunch

Customer experience disruption: Healthcare faces a bitter pill

Over the past decade, disruptors such as Amazon, Apple and Australia’s Atlassian have delivered technology enhanced customer experiences, which for the most part, have improved customers’ lives and delivered unparalleled growth. Can they do the same for healthcare?

Alex Allwood

Principal, All Work Together

How can a brand remain human in a digital world?

Some commentators estimate that by 2020, 85 per cent of buyer-seller interactions will happen online through social media and video*. That’s only two years away, and pertinent for any marketer.

James Kyd

Global head of brand strategy and marketing, Xero

https://bit.ly/2qLgzmR Transform your life a proven digital blueprint

Okitoi Steven

How this banking group tackled a digital marketing transformation

Read more

Its great to hear that companies including JCDecaux, oOh!media, Omnicom and Posterscope Australia have all partnered with Seedooh inorder...

Blue Mushroom Infozone Pvt Ltd

Out of home advertising companies strive for greater metrics and transparency

Read more

Much ado about nothingAnother fluff piece around what it could possibly do rather than what it is doing

gve

How AMP is using AI to create effortless ‘experiences’

Read more

is it true that Consumer expectations are also changing as a result. If we trust someone with our data there is also an expectation that ...

Sunita Madan

Society will decide where digital marketing takes us next: Oracle

Read more

This Blog is Very interesting to read and thank you for sharing the valuable information about Machine Learning. The information you prov...

johny blaze

What machine learning has done for the Virgin Velocity program

Read more

Latest Podcast

More podcasts

Sign in