Brex: OOH Driving CTR & Unique Website Visits
Brex OOH Objective
To drive awareness of its brand and portfolio of B2B financial products starting with a corporate credit card for start-up / tech companies along with traffic to its website, Brex engaged PJX to help them navigate the OOH space beyond the bulk remnant buying strategy they deployed for their first entry to the OOH channel. Brex wanted to reach educated (BA+) A18 - 50, HHI$100k+ who worked at professionally-invested start-ups in a “new market” for them - beyond their home base in San Francisco. They needed to reach good prospects in highly focused areas in a market and wanted to initiate conversations with core prospects for the somewhat detailed messaging that applies to the financial services sector.
Brex OOH Activation
Using PJX’s proprietary Market Ranker, PJX guided Brex to a ‘final’ new market selection to test. A national consideration set was whittled down to three ‘finalists’ (Seattle, Austin and Boston) with Boston emerging as the “winner” to receive OOH activation. Once Boston was determined, PJX honed in on pinpointing optimized placements tailored to messaging designed more specifically around a B2B target of professionals at start-ups. PJX crafted nunanced audience portraits and identified key POI’s refined around health/med/biotech start-ups. PJX’s insights drawn from data was visualized via ADstruc, PJX’s proprietary tech platform to inform final placement selections and enable Brex to more readily visualize all the data points /components involved on the campaign.
Ultimately, PJX’s analysis led to a concentrated activation in Boston, specifically focused Downtown and in Cambridge and Somerville and locations of specific POI’s, start-ups, top medical centers (like Boston Medical Center) and major venues during major tech-centered events / conferences including LiveWorx, Open Data Science Conference, JPM Tech Conference, and the Red Hat Summit. Other POI’s included key schools (Harvard, MIT, Tufts, Brandeis, BU, BC, Northeastern). OOH activations were planned to coincide with the timing of tech events and graduations with an immediate retargeting component incorporated to expand conversations with more complex and direct messaging. DOOH scheduled in non-custom intervals kicked off the campaign. Media at high SOV was in-air within a day of ‘final plan approval’ and featured messaging in key areas around targeted events. A static OOH component of the campaign followed two weeks later which featured micro-targeted placements on Street Level formats only to optimize frequency, provide a sustainable presence and enable top of funnel messaging to more readily incorporate a retargeting component for more direct lower funnel messaging serving ads via mobile against the custom audiences exposed to OOH.
Brex OOH Results
In all the campaign ran over the course of 8 weeks in hyper-local areas of Boston: Downtown pockets, Cambridge and Somerville staggered across timing of key local tech / university events. OOH performance was monitored with retargeting reported weekly (as Brex got up to speed with assigning pixels to their landing pages). In the absence of being able to optimize retargeting towards landing page visits as Brex worked through their process, retargeting efforts were optimized towards CTR. Once the pixel was placed (2 weeks prior to the campaign’s end), the retargeting optimization strategy switched to pivot from CTR and towards landing page visits As the campaign returned towards optimizing towards CTR when the pixel was placed on the official landing page the CTR began to improve. Overall, the CTR remained steady at 0.38% across the campaign which received + 7,400 web site visits and +3,500 unique people visiting the site.
