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Standard Bank South Africa: Finding Success With Social Media

23 October 2019

Do you think marketing is expensive? You'd be forgiven if you thought online advertising was going to break the bank, especially if you've heard of the extortionate pay per click prices Google charge. 
Facebook Ads shows that there is a better and less expensive way to reach your customers for a fraction of the cost for other paid advertising channels. 
This can be seen in the case of Standard Bank South Africa. The bank is a well known monetary establishment with a rich history of providing high-quality customer care and affordable services for customers. The group created the campaign to increase leads for their life insurance service and wanted to make it quick and easy for people to fill out its online enquiry forms.
A combination of lead ads with their own leads web service was used to see more overall leads at a lower cost. Customers can often be put off purchasing a product or service if the information forms are too lengthy or complicated, however, lead ads facilitated the process of pre-filling the form with information that they had already shared on Facebook. This was sent directly to the CRM system which allowed the sales team to be super responsive and follow up with them in minutes after their initial inquiry.
The 5-month campaign saw a 30% increase in total sales via Facebook whilst maintaining a 70% lower cost per lead when compared to other paid advertising channels. 
It just goes to show that digital advertising doesn't have to be expensive.
"In comparison to other digital media channels, Facebook lead ads have proved to be a revelation over the past year in generating very high lead volumes for our insurance business at a very low cost per lead. The ability to scale the lead volume and integrate directly with our CRM system has been invaluable in helping to grow our insurance sales during this period." - Jonathan Dyer, Lead Digital Consultant, SBDLIS
Are you interested in seeing what Facebook Ads could do for your business? At Gather Social, we’re experts at utilising social media to drive more traffic and increase awareness for companies across many different industries. Get in contact today!