Banco Bogotá

The objective

Driving performance in younger audiences

In a groundbreaking move, Banco Bogota initiated its inaugural performance campaign with the goal of boosting the acquisition of credit loans, specifically targeting younger audiences. Recognizing TikTok's effectiveness not only in reaching younger audiences but also in providing an entertaining approach to finance, Banco Bogota set out to successfully communicate its message within the TikTok platform.

The solution

Creating TikTok-first content

Drawing from their past TikTok endeavors, Banco Bogota recognized the importance of aligning with the platform's style for their performance campaign. Participating in events like the TikTok Playground and 'How to TikTok,' the bank's creative team crafted short, trendy videos inspired by trip hacks, food shopping, and more. With guidance from TikTok's creative team, Banco Bogota successfully connected their brand to these popular trends.

In their first performance campaign, Banco Bogota ensured they had the right signals in place for precise monitoring and optimization. This strategic move played a vital role in their success, providing insights into the actual business impact generated by their TikTok engagement.

The result

Establishing a strategy for long-term success

The numbers tell a success story for Banco Bogota – they surpassed their performance goal with an impressive Return on Investment of 2.4x. TikTok proved to be a successful performance partner, attracting valuable new, young clients to the brand. What's even more remarkable is that 73% of TikTok users didn't stop at a credit line; they went on to open a savings account. Through this, TikTok brought the highest spending converters to Banco Bogota, generating an 18% higher spend than other platforms.

Thanks to their targeted approach, Banco Bogota not only welcomed 40% new customers but also rekindled the interest of 30% of their previous clients. The success of this performance campaign highlighted the profound impact of crafting content with a 'TikTok first' mindset.

In recognition of this triumph, TikTok has now solidified its position as one of Banco Bogota's key performance partners, marking a significant step forward for the brand.“Thanks to TikTok we have managed to get closer to young audiences by exploring creativity in a non-traditional way.”, said Andrés Pineda, Digital Marketing Director at Banco Bogota.“

This has allowed us an increase of 17% to the average amount disbursed and let us be more attractive to audiences that we might not have been interesting to before,” he continued.