[Video]: Measuring The Unmeasurable: A Unique Approach to OOH Attribution
Varo Bank is a mobile-only neobank providing financial services through its mobile app. The transformational brand turned to Mindstream Media Group to raise brand awareness and drive app downloads in the rapidly growing and fiercely competitive category. In this episode of Fast-Forward the Conversation we discuss how our partners at Billups helped us measure OOH and its impact on app downloads in a successful, first-of-its-kind, conclusive study with exciting results.
We believe the daily pressure on CMOs to move their business forward is real, intense and not going away. Join our media practitioners as we discuss the HOW behind making meaningful progress on well-defined targets.
Catch the Highlights
- Varo, an app banking solution, came to us for help with their national brand launch in Q1 2021. The goal was to begin with a test in 6 markets to increase brand awareness for their relatively unknown brand. While the ask was to increase brand awareness, we knew there would also be an expectation of measuring app downloads and conversion activity as well.
- We began by researching Varo’s target audience, “The Builder,” to learn how they live, work and play. We found that they typically commute and may not own their transportation so they frequently take the bus or subway. This led us to incorporate non-traditional placements beyond billboards and posters into our OOH strategy to reach the target audience. Additionally, we learned that the audience is comprised of bright, vibrant people who like to go out and have a good time, making impactful units in entertainment areas or near restaurants or downtown areas a perfect fit.
- We partnered with Billups for two primary reasons.
- Their ability to access the inventory of hundreds of providers. Based on our clearly defined parameters, they were able to quickly and easily select the most appropriate units to reach the target audience.
- Their measurement capabilities. Aside from a consistent methodology across all units regardless of the vendor, they also have cutting-edge measurement techniques for conversion attribution.
- Billups already had the ability to understand lift in website and location visitation based on exposure to OOH advertising, but their data science team took that a step further. Within 48 hours they built a one-of-a-kind solution for attributing app downloads to OOH advertising.
- Another reason for the campaign’s success was culture-crushing creative like hand-painted wallscapes and an interactive AR filter designed to “change the face of money.”
- Mobile devices exposed to the OOH were 2.6 times more likely to download the Varo app than those that were not exposed.
- According to brand health surveys, a high percentage of exposed audiences would now consider downloading the Varo banking app in the next 6 months.
- Across the 6 test markets launched in Q1, all channels combined showed about an 11% average incremental increase in app downloads with some markets as high as 30%.
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