Our Customers Have Saved More Than $1.7 Million
571% lower cost per click, 48% higher click-through rate, 6,000 minutes saved
They say time flies when you’re having fun! By this age-old axiom, more than three years have flown by since we first introduced our product, the Denim Platform, to the world in late 2016.
Our mission is simple: to make marketing personal, at scale. Even so, we thought it was time to be open (after all, it’s one of our company values) and provide a transparent look into how our product performs for our customers and users. Open Record is my opportunity to share more over time about what our mission means and how we’re accomplishing it — and provide you with periodic performance results to back it up.
Utilizing more than a billion data points and proprietary intelligence, Denim automatically optimizes our customers’ marketing budget. How? By enabling them to meet consumers where they are — on mobile and social media.
Gone are the days of the spray-and-pray approach to marketing. Tech enabled consumers expect the brands they do business with to anticipate their needs and deliver highly relevant and personalized experiences.
Marketers agree that dollars spent on mobile and social media go farther than traditional forms of advertising. Mobile and social media advertising follows a pay-per-click model, meaning you pay when consumers take the action you want them to take – such as clicking through to a landing page or submitting a lead form. It costs less than a penny to reach a consumer with a mobile advertisement using the Denim platform.
Denim vs. Financial Industry
Denim makes mobile and social media marketing better. We consistently compare metrics and performance results for non-Denim customers in the financial industry with the same for our customers using the Denim Platform. Since the introduction of our platform, the advertisements placed by our customers average a 571% lower cost per click (CPC) and a 48% higher click-through rate (CTR).
And when it’s added all up, our customers have saved more than $1.7 million in marketing spend since the introduction of the Denim Platform.
Let’s take a deeper dive and look at how advertising on Facebook’s Newsfeed has changed in the last three years.
While the CTR for Facebook Newsfeed advertisements declined 39% since 2017, the CTR for advertisements placed by Denim grew 5.6%. And while CPC across Facebook Newsfeed has increased 228%, Denim’s CPC has decreased 17.5%.
Making Marketing Personal
Consumers’ mobile and social media behaviors are full of information about their preferences, life stages, location, and more. With all this data at marketers’ fingertips, targeting advertisements to those most likely to engage — right where they’re already spending their time — has never been easier. In 2019, for the first time, U.S. consumers will spend more time with their mobile devices than they do watching TV.
One way the Denim platform personalizes the advertisements it delivers is by localization. With Campaigns, Denim customers can micro-target mobile advertisements to reach and engage their audiences in the neighborhoods, zip codes, cities, DMAs, states, or regions served by their branch locations or local salespeople.
Last year, we released Smart Campaigns – proprietary intelligence which automatically tests and optimizes advertisements in every local market to ensure only the best performing advertisements stay running.
And Smart Campaigns work! When compared to normal campaigns, Smart Campaigns achieve, on average, a 25% better CTR and an 11% better CPC.
To do location-based targeting through other mobile and social media advertising platforms, such as Facebook Ads Manager, a marketer has to set up separate campaigns for each and every local representative. It’s simply not scalable for multi-location organizations. In the Denim Platform, the marketer sets up the campaign once, and Denim does the rest. Each advertisement is automatically localized to the location’s or representative’s office location.
A couple years ago, we conducted a case study to determine the amount of time saved using the Denim Platform. We timed how long it takes to place ads on behalf of local representatives through Facebook directly and compared it to the time it takes using Denim. We found it takes approximately 2.5 minutes per campaign using Facebook directly. That means launching a campaign on behalf of 1,000 representatives would take more than 40 hours of work!
With Denim, launching a campaign takes two minutes — whether on behalf of one representative or 1,000. So far, for one of our customers, the Denim platform has saved nearly 6,000 minutes of manual, mundane work.
So as I wrap up this post, we’re flying and we’re having fun delivering amazing results for our customers. To our customers – cheers!
– Gregory Bailey