Traditional media to grow digital audiences

Traditional media have shown efficiency in promoting mass consumer products, but it was necessary to demonstrate their impact with startups and results-oriented companies.

ComparaMejor.com (Crunchbase) was a fintech specialized in comparing financial products and insurance policies (acquired by ComparaOnline in 2018).

In 2016, during its accelerated growth stage, the lead generation process through digital channels slowed down due to increased acquisition costs through sources such as Google and Social Networks.

ComparaMejor’s market was composed of owners interested in finding the best price for their vehicle insurance. Part of its audience had an intermediate level of digital adoption, but there was also a very important segment that was not a frequent user and, therefore, needed to be within reach of digital advertising.

If reaching the digital segment was already difficult, given the fierce competition among several startups, reaching people outside the digital spaces was necessary.

How to do it efficiently?

One of the landing pages used

Traditional media have shown efficiency in promoting mass consumer products, but it was necessary to demonstrate their impact with startups and KPIs-oriented companies.

We decided to advertise on the radio because it allowed us to iterate and follow an agile model:

  • The production of an audio can be done in a few days.
  • Changes in broadcast schedules are quite flexible.
  • Audiences are created based on interests (music and activities), a classification system more appropriate than demographic criteria.

An a/b test model of different spots aired in several programs was run to analyze their impact.

The following steps were taken to measure the efficiency of the radio spots

  • We installed a proprietary tracking code for the landing pages
  • We analyzed the digital traffic to have a baseline.
  • We compared the variations in traffic while the broadcasts were being made with the baseline hours and days, including a margin of several hours later, to measure the delayed recall effect.
  • On the same schedule, comparisons were made between different spots to validate the call to action, tone, and manner.

The findings were applied in the following periods to seek an increase in the generation of conversions.

Agile approach

Repeat: Test, learn and execute

First, a baseline

To understand growth, find what is atypical

Affinity

Find audiences based on behaviors, not demographics

To analyze traffic and understand multi-channel attribution, we use a tool developed in-house

Results

ComparaMejor.com found the radio a very efficient medium to increase its base of leads as it was able to:

  • Reduce acquisition costs in a very significant proportion when compared to digital media execution.
  • Increase brand awareness, correlated with increased traffic to the website from direct and organic branded media.
  • Validate the effectiveness of several communication pieces with the execution of a/b testing.

The execution of this project also allowed us to test the effectiveness of our team’s internal software, which allowed us to measure multi-channel attribution (radio and digital).

Technologies and other nerdy stuff

  • We use Google Analytics and proprietary tracking codes to analyze web traffic
  • I designed tracking dashboards in Google Data Studio to gather information from different data sources
  • Used SCRUM to track project execution

Project status

Completed. The campaign met its goal within the established timeframe, and the websites are no longer on air.

My role in the project

As Product Manager at Resolve Studio I was in charge of:

  • Directing the project
  • Leading a team of 6 people, including development engineers, visual designers, and data scientists
  • Intermediating with the client (ComparaMejor.com) and other stakeholders in the execution

Where are the numbers?

Although the information on this case study is public, I prefer to talk personally about the KPIs. Let’s meet together!