Advertising with impact.
OCBC Bank delivers engaging advertising experiences across video and search with Adobe Advertising Cloud and Adobe Analytics.
Employees: 29,000 globally
Cost savings per 1 million video views
Balance high viewability with completed video views for video campaigns.
Increase sales for search acquisition campaigns.
Extend campaign reach across more digital channels.
More than S$100K cost savings per 1 million video views.
25% boost in search conversions with the same budget.
23% increase in video completion rate.
Increased customer engagement.
“OCBC has implmented Adobe Advertising Cloud for the Consumer Banking business since early 2018 and has leveraged the platform for both branding and direct response campaigns.”
Head of Digital Marketing, Product Marketing, and Silver Segment, OCBC Bank.
Banking for the digital age
As the longest-established bank in Singapore, OCBC has worked consistently to stay abreast of digital trends in the banking and finance industry. On its journey to becoming a bank of the future, the OCBC marketing team focused on growing the bank’s digital footprint and creating simple, meaningful engagements with consumers. In a highly penetrated banking market with an increasing number of fintech competitors, all focused on deploying cross-channel online advertising, this can be a challenge.
OCBC markets three diverse offerings across various online channels. The OCBC OneWealth and OCBC Mighty Savers video campaigns aim to build brand awareness, while an optimized search acquisition campaign on AdWords drives sales for OCBC Explorer Travel Insurance. Despite the relative success of all three campaigns, the marketing team wanted to increase campaign efficiency and effectiveness even more. The team wanted to measure the viewability of the OCBC OneWealth and OCBC Mighty Savers video campaigns and overcome a plateau in cost per acquisition for the OCBC Explorer campaign.
Optimizing advertising campaigns with data
OCBC uses Adobe Analytics as the foundation for all of its digital campaigns. As its marketing team considered how to further optimize its new advertising campaigns Adobe Advertising Cloud was a natural choice because of its seamless integration with Adobe Analytics.
With the addition of Adobe Advertising Cloud, the OCBC team could start tracking and optimizing video campaign viewability while reducing the cost per completed view. For the OCBC Explorer campaign, AI-powered portfolio optimization in Adobe Advertising Cloud Search helped the team shift advertising spend towards the lowest cost per acquisition, while also providing weekly portfolio simulations for more accurate forecasting and budget allocation. Adobe Sensei, Adobe’s artificial intelligence and machine learning technology, combined with the unique data access of Adobe Advertising Cloud, resulted in accurate performance forecasts and performance lift.
With a large and diverse customer base, the ability to effectively target the right audiences is paramount for OCBC. For the OCBC Mighty Savers campaign, the marketing team combined their first-party web behavioral data from Adobe Analytics with OCBC customer identifiers to create customer segments. Those segments were layered on top of core audience targeting that uses standard interest and demographic filters. To further increase media relevance and efficiency, the team created lists for targeting and suppressing audiences.
Increasing views while decreasing costs
Before launching the campaigns with Adobe Target and Adobe Advertising Cloud, OCBC Bank set aside two weeks to make sure that the solutions collected sufficient data to provide learning for campaign optimization.
With Adobe Target, results showed almost instantly. One example was the bank’s insurance category page. OCBC reordered the listing of the products on the page to improve click-through rates, which achieved a 99% confidence level based on the test objective set in Adobe Target after just 10 days.
After the initial learning phase for Adobe Advertising Cloud, OCBC adjusted the objective for its OneWealth campaign to optimize for completed video views over partial views. This resulted in a 23% improvement in video completion rate and an overall improvement in click-through rate, while reducing cost per completed view. OCBC saved more than S$100,000 on media as it garnered one million views on its videos, all measured and tracked within Adobe Advertising Cloud.
“Previously, we were getting a healthy cost per view of S$0.02, but viewability was below 60%, which meant that many video views were not actual views. With Adobe Advertising Cloud, we were able to optimize for actual views, which resulted in a 75% increase in overall video viewability, while reducing cost per view to S$0.01,” says Cedric Dias, Head of Digital Marketing at OCBC Bank.
The buying model for the OCBC Explorer search campaign had always been based on the cost-per-click (CPC) model on AdWords. Switching to performance optimization, powered by Adobe Sensei, as well as auto-bidding and portfolio management within Adobe Advertising Cloud, allowed OCBC to gather more data and learnings for better real-time optimization, replacing the time-consuming manual bidding process. OCBC used Adobe Advertising Cloud Search to track conversions and optimize search. For the same cost per acquisition, the bank improved conversions by 25%.
For the OCBC Mighty Savers campaign, Adobe Advertising Cloud helped the bank combine the power of first-party data uploaded to Adobe Analytics—specifically, cookie data collected from the OCBC website and non-personalized customer information file (CIF IDs)—with portfolio optimization. This allowed OCBC to substantially narrow ad targeting, resulting in four times more click throughs and a five-fold improvement in cost per click. Additionally, through a combination test of the location of the promotion and the call-to-action on the web page, conversions increased by 18%.
Working together to reach the right audience
The Adobe team guided OCBC through setting up weekly targeting and optimizations. This support was instrumental, particularly for the OCBC OneWealth campaign, which was the bank’s first deployment on Adobe Advertising Cloud.
“Adobe provided great support from the onset with intensive trainings to OCBC and our media agency to help ensure we had a good understanding of different features and best practices. The team conducts quarterly reviews to make sure that campaigns are on track and to offer recommendations that help improve the performance,” Dias says.
Impressed by the results powered by Adobe solutions, OCBC expanded its use of personalization to better target customers across Singapore. The marketing team implemented Adobe Advertising Cloud through most of OCBC’s consumer banking segment and has used the platform for both branding and direct response campaigns. Additionally, Adobe Target has delivered impressive initial results in various pilots and will be rolled out in full scale by the end of 2018, along with Adobe Audience Manager, which will be launched progressively with the enabling of marketplace data and web analytics.
Recommended for you