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Business

Webull saw 122% lower CPI with higher CTR on Snapchat versus other media platforms

122%

lower CPI compared to other media platforms

160%

higher CTR and lower CPI compared to other media platforms
The Story
Webull is a popular online investment platform that allows investors to make commission-free trades. Committed to synergising finance with technology, the company's suite of advanced tools and services provides comprehensive, real-time market data so people who use it can make strategic investing decisions. Webull chose Snapchat to target the US market, aiming to increase their penetration of unique Snapchatters - Millennial and Gen Z groups.
The Solution
Webull tried Snap Ads and launched their first campaign on Snapchat.  With continuous efforts on campaign optimization and testing for the best call to action, Webull has increased app installs and attracted their target audience. Within a few days of launching their first campaign, they found that the CPI for app installs had decreased by 122%1 compared to other media platforms. After this, Webull used Snap Ads and Story Ads to maximize their reach and saw breakthrough performance when leveraging Snap Ad campaigns and optimizing for in-app customer registration. The Webull app saw further efficiencies by leveraging a multi-product approach, and from these combined efforts, noted an immediate CPI increase in cost per install. 
Creative and messaging were also key components to success. Webull tried various creatives in A/B tests, by highlighting their product features, benefits, or introducing their app in a narrative perspective. All the efforts have decreased the CPI to 160%1 compared to other media platforms.
The Results
Snapchat has proved to be a top performing partner for Webull. By activating a multi-product approach with Snap Ad and Story Ad campaigns and continuing to keep testing various creatives, Webull has continued to efficiently attract new customers with 120%1 lower CPI and 160%1 lower CTR from Snapchat versus other media platforms. Webull has continued to grow with Snapchat and improved their brand awareness among the Snapchat generation and continue to test new creative concepts.  
"By placing Snap Ads and Story Ads and improving the playfulness of videos, Webull’s brand awareness in young people has improved and the CPA has been reduced. We hope to explore more engaging Ad formats and leverage Snapchat as our regular marketing channel to broaden Webull’s coverage in Millennials and Gen Z, which will help us to improve our brand awareness and acquire more customers in an efficient way."
-Sui Deng, Operations Manager, Webull

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1Client's Internal Data from Branch, Q1 2021