The client turned to APT's Test & Learn software to help them measure the in-branch impact of online ads. Test & Learn analysis showed that, on average, the online ads improved branch new account acquisition by 3%. However, automated de-averaging determined that the increase was greatest in markets with greater brand presence in the previous year, with a higher median income, and where there were more college graduates.
The Results
A targeted rollout of the program to the top 20 markets drove $10MM in incremental annual profits.
The Company
A top US bank
The Challenge
The company was interested in using digital media to drive new customer acquisition but they were unsure if their investments would generate high ROI. The bank had tested online ads in some markets, but due to weekly volatility, impact of local market conditions, and other external factors, the client had a difficult time isolating the cause-and-effect relationship between online ads and new account generation in the branch.
The Solution
The client turned to APT's Test & Learn software to help them measure the in-branch impact of online ads. APT software used patented algorithms to construct a custom, well-matched control group from markets where online search and display ads were not being shown. Test & Learn analysis showed that, on average, the online ads improved branch new account acquisition by 3%. However, automated de-averaging determined that the increase was greatest in markets with greater brand presence in the previous year, areas with a higher median income, and where there were more college graduates.
Based on these identified drivers of performance, APT software built a predictive model, which targeted markets scientifically proven to respond positively to the test.
A targeted rollout of the program to the top 20 markets drove $10MM in incremental annual profits.
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