Luminor is one of the largest financial institutions in the Baltic region, serving clients in Latvia, Lithuania, and Estonia. They offer a comprehensive suite of financial services, including personal and business banking, loans, investments, and savings solutions.
Luminor sought to increase brand awareness and reach a broad audience across the Baltic countries in a cost-effective manner. They needed a platform that could deliver significant reach and high engagement while maintaining a low cost-per-thousand impressions (CPM).
The Objectives
Increase Brand Awareness: Establish Luminor as a leading financial institution across the Baltic countries.
Maximize Reach: Target a wide audience while maintaining a cost-effective approach.
Optimize CPM: Ensure the lowest possible cost-per-thousand impressions for maximum visibility.
The Solution
Luminor implemented a TikTok advertising strategy focused on maximizing reach and brand awareness. The strategy included:
A. Campaign Types: Luminor utilized two primary campaign types:
Traffic Campaigns: These campaigns directed users to Luminor’s website to learn more about their services.
Reach Campaigns: These campaigns focused on maximizing impressions to build brand recognition.
B. Targeted Audience Segmentation: Audience targeting was implemented by age to ensure alignment with Luminor's ideal customer profile.
C. Strategic Scheduling:
Luminor leveraged TikTok's "Schedule" feature to concentrate spending during peak activity times, maximizing engagement and minimizing CPM.
D. Engaging Creatives:
Luminor developed engaging video creatives to capture audience attention and effectively communicate their brand values.
The Results
By leveraging TikTok's ad formats and advanced targeting capabilities, Luminor successfully promoted its brand across Latvia, Lithuania, and Estonia. The campaign results showcased TikTok's potential for cost-effective advertising, delivering exceptionally low CPMs while maintaining wide reach and strong user engagement. This campaign proved TikTok's value for large-scale brand building and awareness initiatives in the financial services sector.
Luminor's TikTok campaign achieved impressive results:
Average CPM: €0.92, demonstrating TikTok's cost-effectiveness for large-scale campaigns.
Impressions: 9,937,827, ensuring extensive exposure across the Baltic region.
Reach: 869,508 unique users, reflecting effective audience penetration.
CPC: €0.18, highlighting cost-efficient user engagement.
