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

Blog Posts

Is your content marketing missing the mark?

Does it ever seem like the content you create falls flat on its face or that the leads you’re generating aren’t worth following up?

Dan Ratner

managing director, uberbrand

​ Creating a purpose-driven brand

So you want to be a brand with purpose. But what does it actually mean to build a brand with real meaning?

Paul Chappell

Partner and managing director, Brand + Story

Customer experience crisis: Proactively mitigating the risk of broken promises

Last Friday, three weeks after United Airline’s spectacular customer experience disaster, customers received a letter from the company’s CEO, Oscar Munoz.

It is interesting. Rebrand is very good. Perhaps they should change the logo to something more modern. For example as it is - https://www...

David Hill

Grace Group undergoes first rebrand in 30 years to unify and contemporise

Read more

Hey Guys, just one small typo that changes a part of the story :“That was a really big step forward for our company because we didn’t hav...

Damian Young

Chobani tastes success with data analytics platform

Read more

This is amazing! Congratulations to Cochlear for continuing to lead innovation in every way!

Chris

How this marketing ops leader is lifting the automation ante at Cochlear

Read more

Interesting case! It seems like universities can also benefit from marketing automation. I've started using getresponse some time ago and...

Aaren

How marketing automation is helping drive CX change at Adelaide University

Read more

Always great to see and read these success stories and the growth of gamification. This story is very warming and can act as an inspirati...

James Doyle

5 tips to boost engagement with gamification from Donut King

Read more

Latest Podcast

More podcasts

Sign in