How Banks & Credit Unions Can Utilize IP Targeting and Venue Playback

Posted by Lindsay Borgen on November 27, 2017

With the innovation of technology, it is increasingly difficult for companies -- especially banks and credit unions -- to reach their target audiences. Location based advertising via IP Targeting allows you to target your audience based off of a venue they have visited to target ads to their mobile phone or by mapping their IP address to deliver ads directly to their server. One of the huge advantages of these two location based advertising methods is that they do not get categorized as internet cookies, so your message can always reach the intended viewer.

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IP Targeting and Venue Playback are not only extremely targeted, but will increase the effectiveness of and response to your financial marketing campaigns; therefore generating a greater ROI on your marketing budget. Banks and credit unions that implement IP Targeting and/or Venue Playback digital marketing campaigns can experience:

• 40% more time on website
• 3.2x higher click through rates
• 79% higher response rates

IP Targeting
IP Targeting is a marketing method that allows you to hone in on Internet Protocol (IP) addresses, and then target specific ads to those certain places. The biggest advantage IP targeting offers is the opportunity to hone exclusively in on your target audience. This leaves no wasted impressions, which will save you time and money. IP Targeting can originate from a database list you proprietarily own, or from a purchased list based on demographics and locations you are trying to reach.

Venue Playback
Venue playback is different because it allows you to target any device that visited specified venues or locations within a certain time period, and will serve digital ads to the devices even after they leave the targeted venue. If you are offering special student checking accounts, then venue playback will allow you to hone in on college campuses and target students mobile devices as they come and go. This feature makes venue playback more mobile than IP targeting. You can even target your competitor’s locations with your company’s ads. About 40% of people with smart phones use their phone to browse product reviews or get information before purchasing an item. It is vital for banks to understand the internet’s new-found role in helping people make financial decisions. This opportunity to appear to your audience, on their own turf, is a no brainer. Think about the damage you can do by showing your competitor’s customers YOUR bank’s offerings.

All in all, these two forms of advertising are vital for banks and credit unions to adopt if they want to convert consumers into customers during a time where the internet is essential to people’s financial decisions. People hang out on the internet, so why not target your advertisements to your audience where they spend their time? To learn more about IP Targeting, Venue Playback and proving ROI on your marketing campaigns, contact us today!

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Topics: Financial Marketing, Financial ROI, Bank Digital Marketing, ip targeting, Venue Playback

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