Insights

Banking on a Happy Couple ~4 min

How banks and fintech companies can combine Facebook Dynamic Ads with lead generation to open up new possibilities

Facebook Dynamic Ads allow brands to automatically update information about their products that gets shown to the social media audience.

If you’re a business looking to utilise Dynamic Ads, you can use your Facebook Ad account to launch ads for travel, automotive, and real estate, or use a standard product catalogue (e.g. for retail and e-commerce) created in the format accepted by Facebook.

A Dynamic Ad is built from different data elements in the product catalogue according to a particular user’s interests and actions. For example, the ad a user is shown can be affected by the pages they visited, the goods in their cart or wishlist, and takes into account availability, prices, discounts, and other parameters.

Creating relevant ads is important for all businesses, but are Dynamic Ads the solution if your business isn’t the kind that gets added to cart, or sells a range of goods in a catalogue?

For financial technology companies and banks, changing data like currency rates and stock prices can be very important, and also highly relevant for potential customers.

While there is no special dynamic ads catalogue for fintech companies and banks, that doesn’t mean that such companies can’t utilise this highly effective Facebook ad format.

Fintech and banking Dynamic Ads are available via Aitarget, and allow you to update stock exchange prices for currency pairs sale and purchase, the spread (the difference between prices mentioned), and other financial indicators.

Watching the markets

Let’s take a look at how dynamic advertising technology can work for banks and fintech companies using the example of one of the most effective formats, Carousel.

With Carousel, each card in the rotation can display a currency pair, the price of its purchase and sale and spread. To achieve this, Aitarget technology will help you to create a source with the necessary data in the same way as if were creating a product catalogue.

The information in the Carousel ads will be uploaded and updated automatically, keeping the ad up-to-date on a regular basis, and very relevant at the moment the user sees it.

An example of dynamic advertising for banks and financial technologies

The settings for the ads are flexible: you could set the time of updating for the exchange’s opening and closing hours, or choose a more appropriate time.

Prompt price notifications are the hook here for new traders and those who’ve already used your brokerage platform to take deep target actions (e.g. add funds to their account).

Better together

Given that conversions for banks and fintech companies are related to requests and registrations, we recommend that you combine the power of Dynamic Ads and Lead Ads.

With this combination of social media tools, after a user has interacted with a dynamic video or Carousel ad, they will be driven to a lead form where they can easily leave their contact details, without having to switch from Facebook to a third-party website.

An example of combining Dynamic Ads for fintech and a lead form

Our experience shows that conversions for the Facebook lead form are higher than those for lead forms on an external website, since the user doesn’t have to fill in as many gaps themselves. There is very little they have to do manually: their required name, email, and phone number can be automatically entered from their Facebook profile.

For banks and fintech companies who wish to collect other relevant information (e.g. customer payment information), you’ll need further permission to process such personal data. You can use Lead Ads that drive traders to your website to give additional data.

Setting things up in this way can help increase the quality of leads for banks and fintech companies. Combining Dynamic Ads with Lead Ads means that traders who complete both actions (filling in a lead form in the ad itself then heading to your website) are more likely to be highly engaged and wish to continue dealing with your platform.