Simple changes, serious results
KeyBank decided to put Adobe Audience Manager to the test. As the day-to-day director of their new data management platform, Nomina was pleased with how well Audience Manager integrated into KeyBank’s existing systems and workflows. With his own two hands on the steering wheel, he could begin to incorporate the use case capabilities the company had previously lacked, like exclusions and frequency capping. With new technology in place, Nomina and Morcelle had some early wins — their average CPM dropped from $4.50 to under $2.50, especially in display. And by implementing frequency capping and exclusions, they saved hundreds of thousands of dollars. “It just made sense from every single angle. I can put more media in the universe for the same amount of money,” said Morcelle. This proved to their team — as well as the business at large — that bringing their marketing in-house was a very good idea.
As Nomina says, “Now that we’ve brought things in-house, it gives us a lot more viewability into how our digital advertising is performing. We’re better able to sync it with our metrics and we can use it as our source of truth.”
Having proven the value of managing their own marketing, Morcelle soon became ready to take it a step further by adding digital media buying to the KeyBank repertoire with Adobe Advertising Cloud. Only this time, he didn’t need an RFP to make his decision. “We knew the investment that we were making in Adobe. We could see the quality of the product. It was really a very natural fit,” said Morcelle. Because of the tight integration between Advertising Cloud and Audience Manager, the team felt confident they could get up and running quickly, proving the value of their investment yet again. And they were right — KeyBank was able to run Advertising Cloud independently with a team of two in a mere nine months. Per Nomina, “A lot of the credit goes back to the Adobe side of the house and our partnership. We could not have just gone cold turkey the way we did without the Adobe team being extremely supportive and helping us make that pivot.”
Running their media buying in-house, especially for television, meant that KeyBank needed to know their customers better than ever. As one of the beta testers for Advertising Cloud’s partnership with Roku, America’s leading streaming platform, KeyBank had a huge opportunity to use connected television (CTV) to connect with customers — including hard-to-reach segments — in a whole new way. With the CTV format, the company could combine the power of Audience Manager and Advertising Cloud to target ads with newfound precision. This proved extremely valuable, especially in terms of developing brand awareness within the B2B space. “The idea of running B2B ads on television never made sense to us before. You’re not going to go into traditional broadcast with a B2B message. It’s not targeted enough. It’s too expensive. The ability to actually find that audience on a big screen at a price that made sense for us is huge. It’s a game changer,” said Morcelle. As a result of using CTV, Keybank saw their highest 2019 campaign video completion rates come from Roku, where they are now planning on increasing their investment in the coming years.
With a team of just three people, KeyBank was able to make the kind of connections with customers they had only dreamt about previously. In the past, with all their customer information stored off-site and only available through reports, the company was left with a vague sense of who their customers really were. But with real-time insight into their audiences and the ability to experiment, pivot and optimise, KeyBank was finally getting to know their customers in detail. As Morcelle said, “Now we have a clear and deliberate picture of who we’re talking to and why we are talking to them. We can even vary messaging, creative and all of the other pieces to make them more relevant and actionable to even our smallest segments.”
Pivoting on a dime
One of the best examples of KeyBank’s newfound marketing agility is the meticulously crafted multichannel campaign that was set to launch on 23 March, 2020 — but never did. With the onset of the COVID-19 pandemic reaching the U.S. mid-March of that year, KeyBank was forced to push their campaign back several times. When it became clear that the message they had wanted to go to market with was no longer timely or relevant, Morcelle made the tough decision to pull the campaign. But with marketing now in-house at KeyBank, he was able to pivot in a matter of weeks.
Their agility was instrumental in completing one of the most successful campaigns in KeyBank history. The new concept, “Ready for Tomorrow,” was a love letter to the community. Instead of running it as a sales-driven campaign, KeyBank opted to make it a simple, authentic communication to all those whose lives were affected by the pandemic. Still, the campaign was set to be big — fully integrated and multi-channel, including traditional, display, digital, video, audio, social and email. With the objective of establishing a deeper connection with the KeyBank community instead of driving sales, Morcelle set modest KPIs for the campaign. The results were surprising.