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%.