The average U.S. household owes $16,000 on credit cards, $27,000 on autos, $48,000 in student loans and $169,000 on a mortgage. With stats like that, it’s easy to see how the nation’s loan market is huge.
As a veteran advertiser, LendingTree knew that TV was effective, but it had no way of knowing its impact beyond initial website visits. The company measured visits within a five-minute window after a TV spot aired. It would take above-baseline visits to identify CPV by network, daypart, creative, program or day. But this method provided little-to-no granularity, limiting the company’s ability to look at user quality and conversion data.
In order to scale and optimize offline marketing – and more effectively reach the millions of Americans looking to comparison shop for their loan needs – LendingTree wanted to understand what aspects of TV were having the most positive impact on overall business.
LendingTree knew that bringing in a third-party system to monitor, measure and optimize TV campaigns was essential. It held a head-to-head test with three vendors to compare capabilities, user friendliness, set-up requirements and data outputs. At the end of the 30-day trial, it was clear that TVSquared was the right fit.
“We saw how TVSquared’s ADvantage platform – and its same-day insights – would provide us with the extremely granular, easy-to-navigate data we needed to effectively optimize TV campaigns,” said Lauren Pilon, LendingTree’s Director of Offline Marketing. “Not to mention, its set-up time was very fast and the portal was easy to understand and use for people of all levels.”
Today, LendingTree and its ad agency leverage ADvantage to understand which spots drive the most engagement and where efficiencies can be made to reach target audiences and drive the greatest response.
In four months with TVSquared, LendingTree has made improvements to its overall CPV, increased ROAS and reduced CPQF.
LendingTree is working to scale TV campaigns toward the networks, dayparts, days, programs and creatives that are proven to positively impact revenue and cut those where ROAS is less than ideal. And it plans to work with TVSquared for all of its TV optimization initiatives along the way.
ADvantage gives us a ‘real-time’ eye on all of our TV campaigns. I have more confidence in what we’re doing than ever before, and one of the reasons for this can be attributed to our relationship with TVSquared.