How enhanced targeting enhances success
Sponsorships are no longer just a tool to gain notoriety – when engaging audiences, they can also deepen connections between fans and brands through unique experiences. This is the exact goal that Banco Pichincha had in mind when they developed El Diez de la Trivia and Trivia de Oro to enhance sponsorships with football teams such as Liga Deportiva Universitaria de Quito, Barcelona SC, and Universidad Católica and with the Ecuadorian cyclist Richard Carapaz, respectively. Banco Pichincha is a leading Ecuadorian financial institution, controlling a 30% market share. It also has a presence in Spain, Colombia, Peru, Panama, and the United States. The bank activates trivia quizzes during the Ecuadorian soccer championship and the great cycling tours to test fans on their knowledge. They offer a way for fans to experience unique moments through prizes that range from signed shirts to meetings with athletes to attendance at training sessions.Challenges and goals
These trivia quizzes have evolved since their inception, with many changes implemented to drive more participation: they adjusted the questions to make them easier and expanded the participation metric beyond Retweets to include Likes as a trigger. They also added the option to share the trivia contest along with a predetermined text so they could encourage more people to participate. However, Banco Pichincha’s initial audience target was too wide resulting in engagement tactics that weren’t reaching the right people.Solution
Banco Pichincha used Audience Manager, a network graph analysis function of Audiense Connect, to create Custom Audiences of creators and amplifiers. This allowed them to focus their advertising with their unique audience more effectively.“We talk to everyone: our brand audience and a whole lot more. But through media, we target only those creators and amplifiers that allow us to reach the audience we want.”For the Richard Carapaz-themed trivia quiz, Banco Pichincha were able to create three distinct custom audiences:
- Carlos Serra from Audiense
- An audience related to the sport i.e., people who are fond of cycling in Ecuador, people who are fans of Barcelona Universidad Catolica, etc.)
- An audience of influencers for the first audience. These influencers helped with amplification through a bigger bid in the X ads campaign. This could only be done using graph segmentation and tailored audiences.
- An audience of “followers of”: Utilizing the follower graph to identify relevant people in the world of cycling who were based in Ecuador. Audiense Connect helped them identify the 100 most relevant accounts and their followers, which they included in the following targeting.
#ElDiezDeLaTrivia and #LaTriviaDeOro . Banco Pichincha used both the Retweet trigger and Likes trigger for engagement. From August 2021 to August 2022, the campaign saw almost 22,000 participants of the 28 trivia quizzes.
Results
By increasing the relevance in targeting, Banco Pichincha was able to increase trivia participation by 10 times.“Our ongoing data analysis, the formulation of growth hypotheses, and the execution of experiments to validate them, were key elements to maximize the power of the community, which is very active on X and follow our sponsored teams and athletes. The results of this exercise, along with a strategic segmentation, allowed us to grow from 366 unique users during the first trivia in August 2021, to 3291 in the last Richard Carapaz trivia, that took place last June 2022.”From August 2021 to July 2022, they generated a total of 12,628,660 impressions at a CPM of €0.48 (0.11 USD), where engagements refer to the actions that fulfil the campaign objective. This may be an action such as watching a video in a promoted video views campaign.
- Patricia A. Villarruel Gordillo, Content Director at Banco Pichincha