Mobile is witnessing a surge in adoption. There are over 500 million smartphone users in 2021. They are spending an average of 4.3 hours a day, on their handsets. Marketers are increasingly adapting to this trend and are allocating more of their ad spends on mobile advertising. In doing so, brands are targeting highly engaged customers at scale and achieving their performance marketing outcomes such as app installs, sales, leads, website visits, subscriptions, user engagements, and other relevant KPIs, more effectively.
While search and social media platforms dominated most of the advertising budgets so far, marketers still faced the challenge of limited return on investment (ROI), even as ad spends increased. Marketers are thus turning to alternate channels for their media campaigns that provide extended reach and incremental ROI. Advertising via mobile handsets (OEMs) is a unique solution to this advertising conundrum. Marketers can leverage innovative ad formats and media placements at multiple touchpoints on mobile OEMs to reach untapped customer segments. This approach enables marketers to cut through the clutter to engage customers in their buying journey – from brand discovery, right up to the final purchase.
How Angel Broking aced the mobile advertising game
Angel Broking’s performance marketing campaign is a use case example of how mobile OEM advertising drove the desired ROI for the new-age marketer. The brand faced a peculiar challenge of extended reach and optimizing ad spends. Despite allocating 95% of its ad spends on the search and social media platforms, the resulting ROI was not incremental, even when the campaign budgets were scaled. Suresh Chettiar, Vice President, Angel Broking wanted to reinvent the way the brand reached the customers on mobile. He was clear that Angel Broking ads run on novel media inventories that ought to be profitable advertising solutions. It was this bold vision that led them to partner with VEVE into the yet unchartered space of mobile OEM advertising. Through the association, Angel Broking aimed to boost its customer acquisitions incrementally beyond its current search and social channels, while also ensuring that the cost-per-account opening was optimized.
OEM advertising with VEVE
VEVE leveraged its robust partnerships with leading mobile handset manufacturers (OEMs) and positioned the brand’s ads on multiple touchpoints such as minus 1 screen, lock screens, OEM-specific apps, and within native OEM app stores. The ads were targeted at customers in tier 1, tier 2, and tier 3 markets, who were interested in financial products. These consumers used smartphones from Samsung, Xiaomi, Oppo, Vivo, and others.
While the campaign was underway, VEVE also conducted several tests to ensure that the performance of the inventories and placements were optimal. Based on the results, the campaign was optimized to achieve scale and the best outcomes, in terms of ensuring that the cost-per-account opening was optimized as compared to that from search and social channels. Other tests were also conducted to ensure that the campaign creatives contributed positively to the campaign objective. This approach ensured that Angel Broking’s ads ran at scale and reached highly engaged customers at the lower end of the consumer funnel.
Impact of the campaign
The campaign performed well and over-achieved its initial set target by 200%. A big chunk of customers acquired was from tier 2 and 3 markets, and the ads provided better quality leads, with a relatively higher lead-to-account opening conversion. The campaign also achieved 2X higher ROI, as compared to search and social giants. The ROI remained consistent even as ad spends increased by 3X. The cost-of-account opening was reduced significantly to 50% of the cost previously. High conversions from install-to-lead were thus achieved.
Based on the outstanding performance of VEVE’s ads, Angel Broking increased its ad spends on mobile OEM inventory from less than 1% to 10%+ of the total budget outlay. The innovative campaign contributed to more than 10% of the total acquisitions on digital media. Further, Angel Broking reduced its spends on search and social inventory from 99% to 80%. The use case of Angel Broking is a testament to the effectiveness of VEVE’s innovative ad formats and media placements that empower brands to target the right audience at multiple touchpoints throughout their device journey.
The takeaway
It is evident, therefore, that mobile OEM advertising has proven to be effective in new-age marketing strategies. Marketers can leverage extended reach, innovative ad formats, and media placements to engage untapped market segments. This approach has helped brands obtain incremental ROI, proving to be an exceptional asset to any brand’s marketing strategy.
Interested in exploring how VEVE can boost your performance marketing ROI? Get in touch with us at sales@veve.com or fill the form below:
