If you’re in the financial industry, you’ve probably heard of The Motley Fool.
The global multimedia financial services company was founded in 1993 with the mission of making the world smarter, happier, and richer. Their characteristic jester logo has since become well-known and well trusted by DIY investors worldwide.
To succeed in their marketing goals—and help even more people become smarter, happier, and richer—as the world continues to become increasingly digital-first, the brand knew they needed to deliver the right services to the right prospects and members at the right time.
But it’s a challenge easier said than done.
Which is why the savvy team at The Motley Fool turned to Lytics CDP—a move that helped them decrease their cost per acquisition by 20%.
The Motley Fool’s marketing challenge
Personalization. It’s marketing’s holy grail, and it was The Motley Fool’s ultimate goal when they started researching Customer Data Platforms.
They started out researching personalization platforms, but the deeper they dug into those solutions, the more they realized that personalization platforms weren’t the answer they were looking for. The brand needed to centralize and unify user data, manage audiences in real time, and target and personalize for those audiences at scale. The technologies they were looking at simply couldn’t deliver on those use cases.
Which is when, according to Nate Wallingsford, Head of US Marketing Operations & Optimization, realized they needed to look at a different set of MarTech tools.
In his own words, “[After sitting through five personalization platform presentations], we realized that a CDP was a better solution for our marketing needs.”
According to Nate, the brand ultimately chose Lytics for our robust integrations and personalization through machine learning.
And once they had Lytics CDP in place, it was time to start putting those tools into action.
Solving marketing challenges with Lytics CDP
With their data onboarded and Lytics tools at their fingertips, the marketing and business intelligence teams were ready to roll.
They worked together to understand the pre-conversion customer journey using Lytics out-of-the-box behavioral scores. And then they used that data to identify users most likely to convert.
From there, it was time for audience segmentation. The team split their likely-to-convert customer list into three tiers—platinum, gold, and silver—and created bidding strategies in their paid marketing channels to target each group.
“When we identify high-value prospects,” Nate explains, “we’re willing to bid more aggressively in our paid marketing channels to acquire them…[We] target those segments across Yahoo, Facebook, and Google, conducting retargeting efforts as well as creating lookalike audiences to scale…The higher the [projected] lifetime value of a customer, the more aggressively we bid.”
And so The Motley Fool identified their highest value audiences with Lytics, created a tiered bidding structure, and quickly started acquiring new customers.
“We contracted in December,” Nate says, “and by the end of January we were running personalization campaigns.”
The result? A 20% drop in acquisition costs.
As you already know, the brand’s results were quick and decisive.
In the first year, by using Lytics behavioral scores to identify high-value prospects and create lookalike audiences that targeted similar prospects who hadn’t yet interacted with the brand, The Motley Fool’s cut acquisition costs for their highest-lifetime-value segment (platinum) by 20%.
What could your brand do with a 20% cost drop?
The Motley Fool’s results are compelling. But with Lytics, they aren’t rare. Our clients regularly report big wins. Like Agora Financial’s 167% increase in monthly revenue. Or The Economist’s 300% subscription growth. Or Access Intelligence’s 54% growth in professional services.
So, what could your brand do with results like these? If the answer is a lot, we’d love to show you how Lytics can help and talk to you about more of our epic customer success stories.
Contact us today to set up a demo or chat about your business goals.