united-overseas-bank-drives-3x-increase-in-applications-with-google-marketing-platform
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Case Study
United Overseas Bank drives 3x increase in
applications with Google Marketing Platform
Tags
Analytics 360
Display & Video 360
Google Marketing
Platform
Tag Manager 360
Campaign Manager 360
The Goals
Customize marketing messages to fit
consumer needs
Increase savings account applications
The Approach
Streamlined sitewide tagging structure with
Tag Manager 360
Created unique audience segments based on
first-party data in Analytics 360
Deployed data-driven creative using
Campaign Manager 360 and Display & Video 360
The Results
Increased application submissions by 300%
Experienced 100% higher return on ad spend
compared to previous remarketing strategies
As one of the largest financial institutions in
Singapore, United Overseas Bank (UOB) prides
itself on its ability to deliver financial
products and services that meet the specific
needs of its customers. In recent years, the
bank has prioritized the evolution of its
digital marketing strategies, aiming to
increase its advertising efficiency to help
grow market share.
UOB wanted to take the next step in optimizing
its marketing by serving customized ad creative
at scale. If it could better understand the
needs of its potential customers, it could
reach them with a relevant message for the
right product at the right time. This in turn
could help drive an increase in product
applications, helping UOB reach its business
goals.
Understanding the user journey
To pilot this new strategy, UOB chose to focus
on one of its savings account products, an
offering that helps customers save for future
healthcare costs, and includes additional
health and wellness benefits, such as
complimentary annual health screenings.
UOB partnered with its account team at Google
to analyze website actions throughout the
savings account conversion journey. This in
turn would help them identify what product each
potential customer was most interested in. For
example, if a potential customer visited the
UOB webpage describing a specific benefit of a
particular savings account, it was likely that
the individual may have been interested in that
product.
Harnessing first-party data with Tag Manager 360
and Analytics 360
With a behavioral model in place to help
understand the interests of its potential
customers, UOB turned to Google Marketing Platform and
their partner Kasatria, to help build its
measurement foundation and ensure UOB had a
robust tagging infrastructure in place.
First, Kasatria helped UOB use Google Tag Manager
360 to streamline the tagging setup on
UOB’s website. This ensured a sitewide tagging
solution was in place to measure touch points
across the consumer journey on site. And this
aligned with Google’s best practices on data
collection, Tag Manager 360 does not collect
any information about visitors to websites
where it is in use, and its HTTP request logs
are deleted after 14 days.
Zones, a feature in Tag Manager
360, also improved the bank’s tag management
workflow by granting individual users access to
publish certain types of tags on certain pages.
This provided greater flexibility to members of
UOB’s individual business units to manage their
tagging responsibilities independently and
reduce work, while also making ownership more
secure.
With Tag Manager 360, UOB was able to quickly
enable Analytics 360
across its entire website directly from the Tag
Manager 360 interface. This meant that all its
website activity would be automatically
reported in its Analytics 360 account.
With its website data in Analytics 360, UOB
could now create unique audience segments based
on the specific product benefits that potential
customers showed an interest in. Individuals
were broken out into specific audiences based
on their perceived interest in certain product
benefits compared to others.
Increasing return on ad spend with data-driven
messaging
Next, UOB needed to produce data-driven
creative that resonated with the audiences they
had created in Analytics 360. For example, for
people that demonstrated interest in the health
savings account, UOB wanted customized
messaging to highlight specific benefits for
the savings account product.
The bank’s marketing team used Studio to construct its rich media
creatives at scale, and imported those
creatives into Campaign
Manager 360 for ad serving. Finally, the
creatives were assigned to a media campaign in
Display &
Video 360, where the media buying would
take place.
To test whether the data-driven creatives
delivered to the corresponding Analytics 360
audiences would outperform its previous
strategies, UOB used the Experiments feature in Display &
Video 360 to run two campaigns simultaneously.
This allowed the marketing teams to create
mutually exclusive testing groups of users and
ensure a clean test.
In the experiment, both campaigns would serve
ads to consumers who previously visited UOB’s
website. However, only one campaign, the
exposed group, would serve the bank’s new
data-driven creative to the appropriate
Analytics 360 audience. The other campaign,
known as the control group, would receive
default creative messaging not tailored to
their previous website behavior.
When the experiment concluded, UOB saw that its
data-driven remarketing strategy had increased
application submissions by 300%. Return on ad
spend for the data-driven remarketing strategy
was also 100% higher than the control campaign.
Building on momentum with Google Marketing
Platform
UOB’s test showcased the value of building a
robust digital marketing strategy with
first-party data. By better understanding the
needs of each potential customer and delivering
relevant creative, the bank was able to drive
meaningful business results.
“Google Marketing Platform has greatly
helped us focus on each customer’s needs to not
only serve them better, but ultimately nurture
a more meaningful lifelong
relationship.”
Audwin
Sim, Vice President of Digital Sales and
Partnerships, UOB
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