High response rates
Awareness of fintech business Synectics Solutions’ enterprise fraud prevention system (EFPS) was lower than they wanted – insurance and banking clients would often select products they were familiar with rather than the broader, but less familiar, benefits of the full solution.
Whilst a wealth of information was available on the Synectics website, a targeted digital marketing campaign was needed to drive traffic to these assets as part of raising awareness with potential customers.
Synectics’ typical client profile – senior risk and fraud specialists in large financial organisations – are in demand and time poor. On any given working day they will be subject to a range of sales enquiries and marketing activity, generally focussed on technical, rational messaging.
We needed to develop a campaign that helped Synectics to cut through this noise – retaining critical technical credibility but combining this with emotionally engaging creative to win attention, optimise response rates and drive quality traffic through to the website.
We identified that the role of fraud prevention could be a double-edged sword – on one hand, it has a critical part to play in protecting their business from illegal activity. But on the other, excessively stringent or poorly performing fraud prevention activity has the potential to waste business resources and obstruct the onboarding of good customers – who may become frustrated and look elsewhere.
This highlighted the importance of getting a true picture of customers as accurately and as quickly as possible to reduce false positives. In some cases more than 95% of customer applications flagged by older, less capable fraud detection systems were genuine and not fraudulent. This was clearly a pain point for fraud professionals and something Synectics’ system could help to rectify.
Ensuring relevance through the strapline “You need fraud protection not customer prevention”, we combined this with eye catching creative designed to disrupt the range of dry, rational advertising our target audience would likely be subject to. This would prove critical in drawing their eye away from the usual B2B creative of people in office blocks gazing at ipads, winning their attention and crucially their click.
The stats from the campaign were highly impressive – an average CTR of 7% against typical rates for comparable campaigns usually running at around 3%. This not only meant that Synectics received higher levels of traffic than the majority of similar campaigns, their ads provided better value for money in terms of responses from the space they paid for. More high quality visitors to the website and more bang for their buck.