chevron-down
chevron-down
March 4, 2024
How Wise reached new audiences and drove incremental customer growth through a brand campaign on Meta
Wise (formerly TransferWise) is a global technology company that helps people and businesses move and manage money around the world. Launched in 2011 as a way to make international money transfers less expensive than the options offered by banks, Wise now enables people and businesses to manage their money in over 40 currencies and 160 countries.
The challenge
Like many fast-moving technology disruptors, Wise was focused from the get-go on lower-funnel performance advertising. However, as activity scaled, audiences were starting to become saturated, prompting Meta and Wise to adjust their approach. Wise needed to find a way to reach new audiences in order to fuel future demand for its services and grow market share.
Wise wanted to understand if adjusting its approach to drive upper-funnel results like brand awareness among new audiences on Meta could help achieve incremental customer growth. Meta was already a strong performance channel for Wise, but the company wasn’t sure if digital media could truly support upper-funnel campaigns. With the cross-border payments market estimated to reach $250 trillion by 2027, it was important for Wise to test new ways to grow—as well as new measurement solutions to accurately understand the effectiveness of these approaches.
The solution
Wise set up a brand campaign on Meta that leveraged platform best practices, including broad reach, optimal frequency, and creative diversification. Called “Take on the World”, the digital-first campaign focused on increasing awareness in the UK of Wise’s multi-currency account offering, with the tagline: “One account to take on the world. Spend, send and receive, here, there, everywhere.”
To understand the full impact of this campaign, Wise used a combination of internal and third-party measurement tools. Wise ran its own internal marketing mix modeling analysis and found that the brand campaign drove an increase in word of mouth—with weekly registration growth increasing post-campaign. The company also partnered with AudienceProject, an independent market research company and Meta Business Partner, to validate the reach and brand outcomes of Wise’s Facebook and Instagram ads and compare results against other platforms in the company’s media mix. Ultimately, AudienceProject found that Meta was the most efficient channel in driving unaided brand awareness for Wise.
Furthermore, Wise worked with the Marketing Science team at Meta to understand the incremental audiences reached by its brand and performance campaigns through a custom analysis. The company also ran Meta Conversion Lift and Brand Lift studies.
The impact
By measuring the performance of its brand campaign in a number of different ways, Wise was able to prove the value of this approach. Overall, the campaign drove:
- A 16.3% increase in incremental registrations and a 18.8% increase in incremental purchases, identified by a Meta Conversion Lift study
- A 2.5-point lift in brand awareness, identified by a Meta Brand Lift study
- Double the reach of Wise’s direct response campaign, reaching an incremental 7.4 million people
- Cross-channel 11-point lift in awareness and a 9-point lift in consideration, identified by AudienceProject
“This campaign has proven that Wise can reach new audiences, scale cost and effective incremental growth, as well as build longer term brand awareness on Meta.”
Beth Clarke, Paid Social Senior Manager
Explore more insights
Stay in the know
Get timely insights from Meta Foresight delivered to your inbox.
