In the financial sector, creativity often takes a back seat when it comes to marketing. The industry has stringent regulations restricting ways in which brands may communicate with their target audience. Nevertheless, some of the most rapidly growing finance and insurance brands think outside the box and thrive with engaging animated ads on Facebook.
Learn about three inspiring examples of campaigns that have been driving sales and brand awareness. These brands use different marketing techniques and psychological peculiarities of the target consumer to stand out in the wildly competitive digital space. Thanks to novelties like the AI ad tools for banks, companies make captivating and targeted visuals that fuel commercial success. Here are the top examples in 2021.
Cleo
An app focused on personal budgeting and financial literacy, Cleo was designed to cater to millennials. The company’s ads are innovative, as they also blend naturally within the news feed. This is crucial for traction on social media, as consumers have grown immune to an explicit advertisement. Facebook allows the company to reach its audience effectively, as around 83% of millennials use the biggest social media network.
The brand’s campaigns have always been focused on messages of support and fun. Cleo wants you to “feel better about your spending problem.” Such non-judgmental wording resonates with the audience.
Secondly, the company leverages user-generated content, which is the ideal antidote to airbrushed marketing. Cleo’s ads resemble regular posts from friends or family, so they establish an instant connection with the viewer. The marketers also leverage the power of social proof — consumers are more likely to trust their peers than any paid ads.
The team highlights value exchange and shows real-life interactions with customers. They show members of the target audience in the ads and treat them with respect. At the same time, the clips look authentic. Even the company’s chatbot has an engaging persona! It is quirky and even a bit cheeky.
Another smart move that benefits Cleo is gamification. This is an outstanding approach for a fintech brand. In the app, users got a lot of positive reinforcement, flexible goal setting options, and more. Even their Facebook ads stress this inherent gamification.
Lemonade
This New York-based insurer offers policies for renters and homeowners. They have a strong focus on technology, and their mission is based on the needs of the millennials. The vast majority of the target audience are under 35, and most of them are first-time buyers of insurance.
The insurance industry is notorious for its lack of innovation. The market is mostly occupied by heavyweights, and new brands find it hard to make their services stand out. Finally, social media campaigns are costly, as the average cost per click on Facebook is $3.77. This is twice as much as the average for other industries! Nevertheless, Lemonade has managed to break new ground through creativity and focus.
As the potential customers are millennials that rent properties, the company’s marketing team was faced with a big challenge — to make the subject engaging and distinctive. This is achieved by using a peculiar combination of color and animated visuals.
The provider has mastered the use of whitespace, which contrasts with excellent colors. This guides the eye to the value proposition and the core details within the ad. The brand color makes the ads recognizable, even on its own.
The company’s video ad with the caption “Homeowners insurance that doesn’t suck” shows a skateboarding house with sunglasses and earphones on. This shows that Lemonade speaks the language of its target consumer. This is why it manages to drive sales with such a dry subject as insurance.
Klarna
This company leverages the human desire for instant gratification and Fear of Missing Out (FOMO). Through its app, consumers can make purchases and pay for them later. This caters to the ‘I want it all, and I want it now’ psychology. The brand also uses bright imagery to target youngsters.
Themed carousels on Facebook allow Klarna to showcase multiple products within one ad. This format has a lower cost per click than single image ads. Klarna includes five images into each carousel and guides users through the selection seamlessly. The products are overlaid on the same background, so they are linked in the viewer’s mind and form a persuasive narrative. Individual descriptions highlight the principle of buying now and paying later.
There are three main keys to Klarna’s advertising success on the biggest social network: a hook/attention grabber, a value add, and a CTA (call to action). First, consumers who are constantly hunting for bargains are attracted by a combination of aspirational images and eye-catching headlines with elements like ‘50% off’. Secondly, the opportunity to buy instantly and pay later by means of interest-free installments highlights the value. Finally, the CTA ‘Shop now’ turns prospects into customers.
The company also places ads of different sizes. This is important, as individual users access social media from different devices, although smartphones are the top choice. In addition, different placements within Facebook, such as stories, marketplace and Messenger, come with different specs.
Final Words
So, what can the experience of these brands teach their competitors? Social media is designed to be social, so ads should look like regular posts, rather than salesy material. Millennials want to be engaged, and they expect fun and captivating creatives. Dynamic visual ads are the most effective type, as humans like them more than text or static images.
Creating a video or carousel ad that will drive sales can be a daunting task. Fortunately, Facebook takes the guesswork out of the equation, as it offers a crop and size tool. In addition, companies like Aitarget provide AI-driven video makers that generate engaging ads of the right format using just your product catalog and templates approved by the tech giant. You do not have to wreck your brain over the necessary dimensions, and the video ad is ready in just 45 seconds.
