Facebook Fanning

A financial services brand, working with a marketing agency to build young fans for their youth insurance product, used our Preference Tool to create targeting segmentations based on personality. Half the campaign spend was allocated to this, and half was spent according to the Account Managers' normal targeting techniques. So this was a test for personality-based targeting.

Financial affinities are challenging to model for personality in the Facebook space. The audience does not like to declare its banking and insurance interests. But we can work around this, using knowledge of consumer psychology, to focus on the factors that are closely linked to insurance purchasing, such as a characteristic pairing of Conscientiousness and Agreeableness scores

Typical insurance brands profiles

The client wished to concentrate on the age bracket 16-17 years old, but agreed with the agency to work on a broader 16-24 age target.

Across the broader age range, our personality-based segments were able to create a 50 % higher CTR and 85 % higher conversion rate, by targeting profiles of conscientiousness and agreeableness within the target demographic. A clear win.

Across the trickier 16-17 target age range, response was generally low (as predicted: kids don’t want to know about insurance).

In all the segments aimed this narrow 16-17 year old target group, the metrics of CTR, CPC and conversion were disappointing. There was no clear advantage for either a sociodemographic or a psychodemographic approach. However, although a personality-based approach couldn't make a significant improvement in the conversion rate, it did help us get lower click-prices. For fans in the key 16-17 age group, personality-targeting lowered the client’s CPA (Cost Per Action) by 8%, which is significant.

The trial showed that best personality-based segments could significantly outperform the best segments created by conventional means, both in a broad and a narrow audience category.