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 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

Blog Posts

3 skills you need to drive better collaboration

A study published in The Harvard Business Review found the time spent in collaborative activities at work has increased by over 50 per cent in the past two decades. Larger projects; complicated problems; tighter timeframes: These require bigger teams with specialised skillsets and diverse backgrounds, often dispersed globally.

Jen Jackson

CEO, Everyday Massive

Better the bank you know?

In 2018, only 21 per cent of customers believed that banks in general had their customers best interests at heart and behave ethically. Only 26 per cent believed that banks will keep their promises; views cemented further following the Hayne Financial Services Royal Commission.

Carolyn Pitt

Head of account management, Hulsbosch

What 15 years of emotional intelligence told us about youth media audiences

Taking people on an emotional journey through content is the most critical part of being a publisher. Which is why emotion lies at the heart of VICE Media.

Stephanie Winkler

Head of insights, VICE Asia-Pacific

It's a pretty good idea. I think this integration is useful. Don't you agree?

Misty Stoll

Officeworks hops on voice interface bandwagon with Google Assistant integration

Read more

ok. so no RCS support? by the way, RCS is a lot bigger than 5G in terms of marketing and monetisation so y'all should be covering it.

DragoCubed

Optus goes for education with 5G network campaign

Read more

Many companies and individual merchants have shifted their major part of marketing to web marketing services Portland as it weighs fewer ...

Radiata Solutions

6 Ways to ramp up Social Media to Your Web Design

Read more

This is a unique experience! Will be interesting to talk to their managers.

Joyce Harris

​How Krispy Kreme revitalised its brand in a saturated market

Read more

I feel bad for them. It's a shame they are closed now. What do you think about it?

Lisa Deleon

Dick Smith stores set to all close by 30 April

Read more

Latest Podcast

More podcasts

Sign in