How an insurtech company engaged more qualified leads with consumer predictions
With Faraday's consumer predictions, this insurtech company was able to target leads most likely to convert on Facebook and lower CPL.
Launched in 2017, this insurtech company had been using Facebook Lookalikes to build brand awareness and find new customers. Managing everything from will creation to life insurance, this company faces heavy competition with traditional insurance providers, so their acquisition strategy has to be strong.
Understanding customers for Facebook targeting
Faraday provided the insurtech company with the capability to understand their existing customers and build out the initial Facebook audiences around those insights that would fuel predictive audiences down the road. Optimizing their acquisition campaign performance on Facebook would allow them to generate qualified leads efficiently and grow their revenue.
Customer insights inform lead generation and personalization
Understanding their customers was the first step in knowing who to target in the future, on Facebook or otherwise. Syncing their customer data with Faraday allowed them to gain a holistic understanding of who their customers are in real life. These insights would allow them to know more about the kind of leads they were looking for, as well as inform future personalization efforts. Compared to the rest of the U.S. population, their customers had a few key lifestyle patterns worth paying attention to.
Faraday
Faraday is a predictive data layer that helps brands and platforms understand who their customers are and what they’re likely to do next. We connect first-party data with privacy-safe U.S. consumer context from the Faraday Identity Graph and deliver production-ready predictions and datapoints you can activate across marketing, sales, and customer journeys.
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