Case Study: Measuring Ad Effectiveness Among the Affluent

December 8, 2020
Author: David Keen

Affluent investors are a highly sought-after audience across many industries. Financial services firms court relationships with affluent investors to bring in additional investing dollars. Luxury brands know these consumers have more discretionary income to spend. Auto manufacturers have high-end and EV models that carry big price tags aimed at the affluent. Getting in front of the affluent is imperative for business growth in nearly all sectors.

Cogent Syndicated talks to more than 1,000 affluent investors every month. Our continual and steady access to this high-value audience allows us to gather equally high-value insight. Our proprietary Ad Effectiveness offering allows clients to assess the reach and effectiveness of advertising messaging among the affluent. Read on to see how one of our clients was able to leverage our ongoing survey engine to choose effective ad creative and messaging, increase conversions and differentiate their ads from their competitors.

Measure Ad Performance

The client provided us with three ad creatives of their own and five competitor ads to benchmark against. In terms of engagement, Ad 1 was the most eye-catching, memorable and easy to understand of the three client ads, also significantly outperforming the Competitive Ad average in all three areas. Ad 2 was also eye-catching, memorable and easy to understand, and Ad 3 performed relatively weaker in all three areas, although still generally comparable to the Competitive Ad averages.

 

Determine the Call to Action and Increase Conversions

Moving to the call-to-action statements, Brand Ads 1 and 2 performed significantly above the Competitive Ad average with respect to generating calls with a salesperson and investments with the brand, while Ad 3 was significantly more likely to drive website traffic. Moreover, the brand’s digital ad executions all outperformed similar ads from competitors. After determining the goal of each ad placement, the client could then use the ad creative that would most effectively lead to conversions.

Differentiating from Competitors

In addition to the ad-specific feedback we captured, we also asked overarching campaign-related questions based on respondent exposure to all three client ads. The campaign provided the brand with a point of differentiation versus ads from competitors and prompted consumers to research more information about the brand after seeing the ads.

Working with our team, the client was able to determine the best ads for each outlet they were launching their campaign on to ensure success and that the creative and messaging would indeed give the client the desired return on their media investment. Read another case study to learn even more about our Ad Testing offering. Then, send us a note to see how your company can leverage our ongoing research with an engaged affluent investor population to boost the return of your advertising dollars and ensure you’re reaching your high-value target audiences.

 

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David Keen
Senior Director, Financial Services

Dave is a Senior Director in the Financial Services Division. With over 20 years of supplier side experience, Dave’s specialties include assisting clients with customer satisfaction & loyalty issues, brand equity assessment, marketing communications testing, new product/service development, and market segmentation. Dave has serviced a wide range of client types, including those in the wealth management space, across both qualitative and quantitative engagements. He also brings broad-based expertise in survey methods, study design, and advanced analytics. Dave holds an M.A. in Sociology from the University of Michigan, a B.A. in Marketing from Michigan State University, and held internships at the Institute for Social Research and the Gallup Organization.