eToro, the world’s largest investment network, combines the excitement of online Social trading with the wisdom of the crowds to help traders and investors make smarter trading decisions. Established in 2007, the eToro founders wanted to combine the increasingly popular social atmosphere with trading foreign currencies, indices, and commodities.
eToro was faced with the challenge of using Facebook to not only find new fans but to engage with existing fans who were part of the eToro network. The more engagement eToro was able to drive from both new and existing clients, the higher its lifetime value (LTV) became. As such, eToro sought a cost effective way to increase LTV while driving down cost-per-acquisition (CPA), which the team felt was too high.
Since stocks and investment news happen in real time , the Facebook News Feed was the ideal place for eToro to advertise. By leveraging Page Post Ads, eToro was able to successfully run a retention campaign to deliver updated and relevant content to its customers via Custom Audiences. The team was also able to use News Feed Ads to better engage with new customers through more impactful messaging for its new customer acquisition efforts. With Kenshoo Apps, the eToro team was able to quickly migrate the bulk of their budgets to News Feed Ads.
Through its retention campaign, eToro was able to turn every ad click into an average of 2.4 social engagements (or actions) on Facebook. This meant eToro was able to turn its paid advertisements into earned, organic social interactions such as Fan Page Likes, Post Likes, photo views, and more. News Feed Ads helped drive greater engagement rates as click-through rate (CTR) increased by 20x when compared to right hand side ads. Kenshoo’s bid and budget optimization worked to meet eToro’s CPA goals, driving down the CPA by 80% for new customers.