presented by Shahriyar Isayev and Nijat Aliyev - Digital Marketing Experts
In an innovative leap for the digital banking sector in Azerbaijan, Birbank, the country's first digital bank, successfully launched a lead generation campaign on TikTok.
Evido’s expertise played a pivotal role in the success of Birbank’s TikTok campaign. Through a collaborative effort, Evido provided continuous support and actionable recommendations, allowing the Birbank team to make real-time optimizations for maximum efficiency.
The Challenge: Navigating a New Platform
TikTok advertising is relatively new in Azerbaijan, presenting both challenges and opportunities. The lack of established benchmarks meant that brands had to tread carefully in this uncharted territory. However, this novelty also reduced ad space competition, allowing Birbank to capture maximum attention with its advertisements. Additionally, the cost of advertising on TikTok was significantly lower than other platforms, making it an attractive option for the bank.
Target Audience and Objectives
Birbank aimed to engage a specific demographic: individuals aged 18-44 interested in financial services. The campaign's primary objective was lead generation, with expectations centered around testing this objective against traditional platforms like Meta (Facebook/Instagram).
Implementation and Strategy
The campaign utilized TikTok's In-Feed Ads, which seamlessly integrate into users' feeds, providing a native advertising experience. Evido's team played a crucial role in launching the campaign and designing an effective strategy aligned with Birbank's goals.
Metrics and Results
To measure the campaign’s effectiveness, Birbank focused on key performance indicators such as Cost Per Lead (CPL) and Conversion Rate. The results were impressive:
- CPL: The campaign achieved a cost per lead significantly lower than expected.
- Conversion Rate: The conversion rate doubled compared to previous campaigns run on other platforms.
Notably, the TikTok campaign outperformed Meta benchmarks by 2x, demonstrating its effectiveness in reaching and converting the target audience. These metrics indicated that TikTok’s audience targeting capabilities were more precise than competing platforms, leading to better engagement and conversions.
Conclusion: Why TikTok?
By leveraging TikTok's unique advertising solutions and audience insights, Birbank met and exceeded its lead generation expectations.
- Lower Cost Per Lead (CPL): TikTok’s ad costs in Azerbaijan are significantly lower than on other platforms, making it a cost-efficient alternative for lead generation.
- Advanced Audience Targeting: Unlike other platforms, TikTok’s algorithm is highly effective at matching audiences with advertiser content, leading to superior engagement and conversion rates.
- Highly Engaged Users: The TikTok audience in Azerbaijan is curious, tech-savvy, and receptive to financial services offerings, making it an ideal channel for Birbank’s digital banking solutions.
