Acquired credit card applications for major bank at surprisingly low CPA with Facebook Lead Ads
Vietnam Prosperity Bank, commonly known as VP Bank, is among the earliest establised Joint-stock Commercial Banks in Vietnam. Their goal was to become one of the 5 leading joint-stock commercial banks, and one of the 3 leading retail joint-stock commercial banks in Vietnam by 2017.
At the time, VPBank was spending its advertising budget for campaigns that had no clear conversion tracking, so it could not evaluate the ROI of the PPC campaigns and the number of credit card applications that PPC brought in. CB/I DIgital was brought in to run VP Bank credit card user acquisition campaigns with Google Adwords and Facebook ads, and ensure that reporting was accurate and informative.
CB/I reviewed the landing pages and installed conversion tracking code for both Google Adwords and Facebook, together with VP Bank internal tracking, to ensure we have a full understanding of campaign performance.
We applied our core strength of consumer insights, audience targeting and communications to create highly effective campaigns that generated excellent returns.
We also successfully deployed the new Facebook ad format - Facebook Lead Ads - for the new campaigns
We surpassed the credit card application targets within 4 weeks of 8-week campaign, with excellent lead quality and low Cost-Per-Lead.
With the new Facebook format, were able to acquire leads at much lower CPA than the industry average.