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

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Launch Marketing Council Episode 3: Launching in the technology sector

Our multi-part video series, Ready to Launch, is focused on unlocking the secrets of launching brands, products and services by exploring real-life examples from Australia’s marketing elite. The series is being produced as part of the Launch Marketing Council initiative by CMO in conjunction with independent agency, Five by Five Global.

More Videos

NetSuite started out as a cloud-based provider of Enterprise Resource Planning software or as NetSuite solution provider, which companies...

talalyousaf

NetSuite to acquire Bronto's digital marketing platform for US$200m

Read more

Thanks for sharing this post, its really good information I get through this blog.CDPO Online Exam Training

Infosectrain01

3 ways Booking.com is improving its B2B marketing game

Read more

Time is of the essence, especially for customer service teams. With chatbots, you can interact and assist customers at a larger scale, al...

Jai

Triple-digit customer database growth, personalised engagement become reality for Stone & Wood

Read more

Hey Emilie - great read, and I particularly liked the section on the pressure of having brand purpose/Gen Z spending habits. It's great t...

Chris Thomas

Have customers really changed? - Marketing edge - CMO Australia

Read more

Extremely informative. One should definitely go through the blog in order to know different aspects of the Retail Business and retail Tec...

Sheetal Kamble

SAP retail chief: Why more retailers need to harness data differently

Read more

Blog Posts

The ultimate battle: brand vs retailer

At the beginning every brand is pure. Every founder with a dream cherishes the brand like a newborn. But very soon that newborn goes out into the big wide world.

Simon Porter

Managing director, Havas Commerce

How the CMO can get the board on the customer’s side

For some CMOs, it’s easy to feel alone in the undying quest to better serve the customer. At times, it feels like the marketing department and the boards are speaking a different language, with one side trying to serve the customer, and the other side more focused on the shareholders and financials.

Jeff Cooper

CMO and board, Business Excellence Australia

The Secret Ingredients of a CX-Led Company Culture

When I talk to organisations around the world about their customer experience strategy, it is often the CMOs and their marketing teams who take the lead. They’re keen to improve the ways they attract and engage customers, and they want to understand the technologies that can help them make their customer experience truly outstanding.

Steven van Belleghem

Author, CX expert

Sign in