Tackling brand comprehension to achieve sales and increase ROI
Client impact
After years of conversion-only digital marketing efforts with this brand, we demonstrated that adding an awareness and consideration layer to the brand’s media efforts helped drive breakthrough and enhance the brand:
50% less spend than the previous year, and drove 100% more online conversions to start an application
Cost per acquisition was 26% under benchmark, while achieving a 41% increase in sales
Organic website traffic increased by 60%
Likelihood to consider was 85% for those that were campaign aware versus 9% for those unaware
About
Qtrade is a Canadian online brokerage platform that offers self-directed investing services providing tools and resources for individuals to manage their own investments. Known for its user-friendly platform, extensive educational materials, and advanced portfolio-building tools. They sell their fintech solution direct to consumers and solicit influencers and small financial services firms paying them referral fees when sold.
Backdrop
The digital trading category is highly competitive, but also highly homogenous. To the average investor, most platforms offer a similar experience, with the main differentiator being price. As an established 25+ year business, Qtrade was getting recognition for their top- notch tools and online experience, but that recognition was not translating to new clients. This was further compounded by the fact that given the similarities in name, Qtrade was often mistaken for Questrade.
Problem faced
After years of focus on lower-funnel digital marketing acquisition tactics only (e.g. Paid search, social media advertising, display banners, etc.), the business was suffering from a comprehension issue. Their target audience of established traders who had been tolerating the less sophisticated platforms simply did not know that this DIY platform offered better tools and insights than the ‘starter’ trading platforms.
Problem solved
In partnership with HiFi, we brought the brand to life in owning the ‘Q’ in messaging through a new campaign called The Qfactor: The relentless pursuit of better when it comes to investing. This created a clear unique value proposition in market that targeted the more sophisticated and established investor.
Then, we created a full-funnel media plan designed to leverage this creative platform to breakthrough the market noise building awareness, driving consideration, and ultimately purchasing the product. We paired efficient digital placements with higher-impact “in-real-life” opportunities, including takeovers at the local airport and in golf courses across Canada. These placements were informed by deep research on our target insights around travel and leisure activities.
