How Betterment Used A Custom Bidding Script To Refine Its Ad Strategy
How Betterment Used a Custom Bidding Script to Refine Its Ad Strategy and Boost Performance
In the rapidly evolving world of digital marketing, platforms like Betterment are constantly seeking innovative ways to optimize their advertising strategies. Betterment, a leader in long-term investing, recently teamed up with AdSwerve to tackle a unique challenge: improving the quality of their digital ad leads through more precise targeting and bidding.
Understanding the Challenge
Betterment’s core audience consists of investors with a long-term outlook, which made traditional ad strategies less effective. The company noticed many leads generated from digital ads were not converting into meaningful actions, such as deposits or account openings. This discrepancy highlighted the need for a more nuanced approach that aligns ad performance metrics with Betterment’s business goals.
The Role of Custom Bidding Scripts
To address this, Betterment and AdSwerve developed a custom bidding script that leverages advanced data parameters to score ad impressions. Instead of focusing solely on clicks or superficial engagement, the script prioritizes impressions with higher conversion potential — particularly actions that indicate serious investor interest, like deposits. This shift ensures that ad spend goes toward reaching the most valuable prospects.
Insights from Initial Testing
Early testing of the custom bidding script revealed surprising insights. Expectations about which ad formats would perform best did not always match reality. The data showed that different ad units perform variably depending on the customer journey stage, prompting Betterment to tailor ad placements more strategically.
Continuous Refinement and Adaptation
The partnership remains dynamic, with ongoing adjustments driven by data analysis. By continuously refining the script and bidding strategies, Betterment can improve both reach and conversion rates, maximizing the impact of their advertising budget.
Key Insights
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What was the main challenge Betterment faced with its digital ads?
Betterment struggled with converting leads from digital ads because their audience invests with a long-term mindset, requiring a more targeted approach. -
How does the custom bidding script improve Betterment’s ad strategy?
It scores impressions based on their likelihood to result in valuable conversions, focusing on meaningful investor actions rather than just clicks. -
What did initial testing reveal about ad formats?
Testing showed that the effectiveness of ad formats varies across different stages in the customer journey, influencing the choice of ad units. -
How is Betterment adapting its strategy over time?
The company continually refines its bidding script and ad placements using insights gained from data analysis to enhance performance.
Conclusion
Betterment’s collaboration with AdSwerve exemplifies how data-driven strategies and custom technology can transform digital advertising effectiveness. By focusing on the most valuable audience actions and adapting based on real-world data, companies can greatly enhance lead quality and conversion outcomes. This approach provides a strong model for other businesses aiming to optimize advertising spend while better aligning campaigns with long-term objectives.