2.7K+ Applications for PODERcard Banking

PODERcard

6-Month Period: Oct. 1, 2022 – March 1, 2023

PODERcard is a bi-lingual banking platform that welcomes individuals regardless of their immigration status. This unique banking platform doesn’t impose monthly fees based on average balance, allows individuals to apply with multiple forms of identification, and ensures every account is FDIC insured. While PODERcard is open to all, it was crafted with the Latino community at heart. During a 6-month period (October 2022 – March 2023), Vuepoint was able to reach an extremely niche segment of the population to help individuals apply for PODERcard banking.

APPLICATIONS SUBMITTED

2.1K

COST PER APPLICATION

$16.87

APPLICATIONS SUBMITTED

688

COST PER APPLICATION

$73.80

Why Vuepoint?

The Vuepoint team’s expertise lies in connecting businesses with potential customers by leveraging pay-per-click (PPC) and paid social advertising. Our ability to reach niche audiences is what made us a perfect fit for PODERcard.

The Strategy

Our strategy for PODERcard was to reach a niche segment of the population, primarily Latino immigrants, who may not qualify for traditional banking. We crafted ads in Spanish to resonate with our target audience and deployed these ads on Google and Facebook for the most extensive reach. This would be a mobile-only campaign and would drive leads to download the PODERcard app, enabling an immediate and convenient application process.

Goals

The primary objective of this initiative was to encourage as many individuals as possible to apply for PODERcard banking through the mobile app. We aimed to highlight the unique benefits of PODERcard, such as inclusive banking irrespective of immigration status, acceptance of multiple forms of identification for application, FDIC insured accounts, a user-friendly mobile banking app and application process, and bilingual service and support.

The Campaign

Our team created several compelling ads for Google and Facebook utilizing a design that resonated with the target audience and keyword research to capitalize on popular search terms. Messaging highlighted the numerous advantages of PODERcard and ease of application. While the campaign was designed with the Latino community in mind, PODERcard’s inclusivity was underscored, emphasizing its openness to all. The ads directed potential leads to their device’s mobile app store (Android and Apple) where they could download the PODERcard app, facilitating an immediate and convenient application process.

We also set up deep links to track and optimize actions that individuals took both online and on the mobile app, thereby giving us critical data on mobile opens, app downloads, application starts and application submittals.

The primary difference between the Google and Facebook campaigns pertained to the conversion readiness of the leads. On Google, we predominantly encountered high-intent leads who were nearer to the conversion point, specifically applying for PODERcard. Conversely, our advertisements on Facebook primarily functioned as an initial exposure to PODERcard for potential leads. These leads were then retargeted on Google, where the likelihood of conversion was significantly higher.

The Results

The campaign successfully reached a highly specific segment of the population, helping a combined 2,798 leads apply for PODERcard banking with cost per application (CPA) on Google at an impressive $16.87, and on Facebook at $73.80 (the cause for the difference in CPA being the stage of conversion). Additionally, 12.8K individuals downloaded the app to their phone. Vuepoint’s expertise in lead generation and conversion-based marketing, combined with our understanding of the unique needs of the Latino community, enabled us to connect PODERcard with the target audience effectively.

If you’re ready to find out how Vuepoint can help you craft a customized Google and Facebook advertising campaign to help you connect with your target audience, call us today to set up a consultation!