OVO Energy is an energy company that prides itself on fairer prices and forward thinking customer service. Merkle | Periscopix had been running some of their Facebook activity for a while, but our Paid Social team took this on in full in November 2016.
For Q1 2017, we were given the objective to increase the number of users switching to OVO Energy as a result of ads on Facebook. As a secondary objective, we were also asked to increase the number of users getting a quote onsite.
To start with, the team set up the campaigns to automatically optimise towards generating quotes; although the main aim was to drive switches, not enough of these would occur for Facebook to successfully optimise towards it. Optimising towards quotes instead would give Facebook enough information to work with, whilst also driving a valuable end. Driving quotes was also important because the predicted strongest switch driver was remarketing to users that had previously got a quote but not switched. Hence, the more quotes that were driven, the more people could be targeted with this remarketing, which was essential in keeping CPA down.
Ensuring we'd cover all bases, other remarketing activity was set up to target other parts of the OVO site, such as frequent browsers of their web pages, or users that had begun the quote process but not completed it.
In addition to this, a Prospecting campaign was planned around lookalike audiences of users that had recently switched or got a quote from the website, as well as various interest targeting options, including bespoke audiences created for the team by the Social platform 4C.
Performance was far better than predicted with the team driving 40% more switches than their initial target. This performance was due in no small part to switches coming from users that had recently received a quote from the website. Users that had received a quote in the last 30 days accounted for 61% of all switches – and the strong performance of this group of users was partly the result of the high number of quotes driven (150% more than targeted). Getting users to take this first step was crucial, and ultimately helped to create a higher number of valuable users to retarget, which in turn led to the success of the campaign.
It doesn't stop there! On top of this, the Prospecting campaign drove far more direct switches than expected, accounting for 28% of the total number of switches (at less than half its target CPA). The strength of this campaign was elevated by the strong performance of its lookalike audiences, but also as a result of the audience created by 4C targeting ‘Likely Renters’, which generated the second most direct switches of any Prospecting activity.
Overall, this performance was a significant step up from the previous quarter, with Facebook activity driving 187% more switches, whilst CPA decreased by 62%.
Quote from client
"The Paid Social team at Merkle | Periscopix have comfortably beaten every target we've set since taking over OVO's Facebook activity. They've made paid social one of our biggest volume drivers in a short space of time, and we're very happy with the results we've seen to date."