Real Results: Reaching the Next Generation on Snapchat
Background
As a financial institution, reaching younger consumers is essential to securing your future! During Q1 2023, this is precisely what our client, a $500 Million credit union sought out to do with their monthly campaigns. To increase visibility among millennials and Gen-Z, we decided to tap into the 75% of millennials and Gen-Z that can be reached on Snapchat. Starting as a trial, the products advertised during the quarter were Credit Cards, an Auto Loan Cash Bonus Offer, and their First-Time Homebuyer Mortgage Special.
Method
We used Snapchat’s geotargeting capabilities to target users solely within the credit union’s service area. These users were served animated ad creative that matched each monthly campaign and landing page. The creative took up the entire screen, engaging users to swipe up on the ad and visit the campaign’s landing page on the credit union’s website. By taking up the whole screen, these ads receive almost two times the visual attention of other social media ads.
Result
The campaigns successfully planted a seed for the next generation of members by reaching users under the age of 35! On average, during the quarter, 90% of impressions came from those aged 18 to 34, and an average of 71% of swipe-ups to visit campaign landing pages fell within that same age group. Additionally, the average swipe-up rate across campaigns fell within Snapchat’s average range of 0.35% to 1.50%, but the swipe-up rate for the Auto Loan campaign surpassed this at 2.04%. Due to the campaign’s success, Snapchat is now an integral part of the credit union’s strategy for reaching the next generation of eligible members with monthly campaigns. Moving forward, the credit union continues to invest in Snapchat and grow its audience among younger generations with this platform at its head.
Are you interested in developing a Snapchat Advertising campaign? Strategis is a full-service agency developing strategies for community banks and credit unions proven to increase the (ROI) through various methods.
