Facebook Success Story: Facebook is Banana Republic’s Top Channel for New Customer Acquisition
Banana Republic
Introduction
The Facebook Custom Audiences product rolled out of beta in Q4 2013. This product allows advertisers to leverage their own CRM data to find those exact people on Facebook. Another great feature of this product is the ability to build lookalikes from any CRM segment, such as your top customers.
We tested Custom Audiences with our longtime client, Banana Republic in Q4 2013 in hopes of driving new customer acquisition. At the time only 20% of online retailers were using this product and thus we saw a first to market advantage. The success was so great, it changed the way we manage our Facebook campaigns today.
Overview
Banana Republic offers modern and refined clothing and accessories for men and women and is owned by Gap Inc. While Banana Republic has a massive customer base, their most loyal customers are getting older. Banana Republic's business goal is to acquire both new and younger customers while maintaining and efficient return on ad spend.
With these business goals in mind, Booyah partnered closely with the Facebook, brand, CRM, and creative teams to execute a campaign on Facebook designed to find and attract the customer base Banana Republic was after.
Since Facebook reaches 71% of online adults and is 2x more accurate than traditional display networks, it was the best partner to help Banana Republic achieve their top business objectives.
Objectives
• Understand Facebook's value in driving new customer acquisition at an efficient return on ad spend
• Evaluate the quality of Facebook's lookalike targeting tool, which leverages proprietary social graph data to find people on Facebook that look like your CRM file of choice.
"The Custom Audiences and lookalike targeting tools are compelling because they integrate social graph data with traditional behavioral and demographic information. The added social profile data means that Facebook can help us reach a target audience based on our top customers, not just anybody that converts on our website. We can then tailor our offers and messaging to drive results."
– Emily Schubert, Director Digital Channel Marketing, Gap Inc. GID
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