“We had reached a ceiling—and we realized we needed the database that tracking generates, in order to scale our Microsoft Campaigns for Commerzbank in an efficient way,” says Bodo Seifert, Account Director at Commerzbank’s agency SYZYGY Performance Marketing. “It’s given us the deeper insights to segment our data and focus on specific demographics rather than just thinking in terms of keywords. We can pick the segments that are working for us and focus on developing those.”
Taking a more data-led approach to performance marketing can feel like an intimidating journey to take for a financial services provider with a close eye on compliance. Dominic and Bodo knew that applying Universal Event Tracking would be a process with many stakeholders involved—and the support of Microsoft Advertising was crucial in helping to make it happen.
“The account team was really helpful with resources, information and answering the legal questions as they came up,” says Dominic. “Being able to deliver the information that our data protection and legal departments needed made a real difference to the process.”
And that process is now delivering the data-driven view of a competitive market that enables Commerzbank to pinpoint the greatest opportunities. Between July and September 2022 Commerzbank tested different automated bidding strategies to see which would drive the most efficient conversion rate. UET enabled the tracking and analysis of campaigns to compare enhanced cost-per-click (eCPC) bidding with target cost-per-acquisition (tCPA). The results of running the tests saw a 28% increase in leads, 66% increase in conversions and an 8% reduction in cost-per-lead (CPL).
The test confirmed the efficiency of target CPA as a bidding strategy and has since been adopted across Commerzbank’s biggest campaigns, all thanks to the measuring capabilities of UET: “It’s giving us that nuanced view and granular control we need to be precise about our targeting and drive better results,” says Dominic.