Tech the Halls Campaign for Best Buy Upgrade+

Drove over $1.76MM in new customer originations, $500,000 in existing customer transactions, and 1.55MM paid social impressions with a remarkable 2.71% CTR

Challenge

When the program launched, the Best Buy Upgrade+ program offered Mac products only (MacBook Air, MacBook Pro, iMac, Mac Mini). In June 2023, the program expanded to include iPad Pro models and Apple Watch.

Through analyzing program data, I identified many existing Best Buy Upgrade+ customers in good standing who had room on their available line of credit to make additional purchases of newly added products.

In addition to a new customer acquisition campaign, I identified the opportunity to test and learn an existing customer campaign to promote the newly added Apple products.

Action

I created a comprehensive strategy and messaging hierarchy to promote the purchase of Apple products through the Best Buy Upgrade+ program and kicked this massive project off with our agile pod. This download of information included the following strategic and tactical requirements:

New Customer Drip Campaign:

  1. Audience Criteria: We targeted existing Bank Customers (Credit, Checking, Mortgage, Student Lending, HELOC) and Citizens Pay Customers who were not customers with the Best Buy Upgrade+ program. These consumers matched our demographic and psychographic profiles for the program.

  2. Audience Size: 1.4MM

  3. Messaging and Cadence: We tested a drip campaign focused on three distinct messages sent in early November, December, and January:

    • Message 1: Affordability - "Tech the halls with Apple gifts for every wish list."

    • Message 2: Fear of Missing Out (FOMO) - "Last chance to Holi-Yay shop for top Apple picks."

    • Message 3: Gift Yourself - "Resolutions made easy with the latest from Apple."

NEW CUSTOMER ACQUISITION EMAIL DRIP CAMPAIGN CREATIVE

Existing Customer Email Campaign:

  1. Criteria for Audience: We focused on customers in good standing (making regular payments on their existing line of credit) who also had at least $1000 of room on their existing line of credit - perfect for adding the newly added iPad Pro or Apple Watch.

  2. Audience Size: We targeted 10,000 existing customers. This target audience represented at least $10MM in unmonetized available credit.

  3. Message and Cadence: To lighten the workload on our Creative team, we planned to utilize similar creative to the new customer campaign with some strategic updates. We used three subject lines focused on Affordability, FOMO, and Gifting to be deployed across December (12/6, 12/12, 12/22) to those who had yet to open the initial email.

EXISTING CUSTOMER UPSELL EMAIL CAMPAIGN CREATIVE

Paid Social:

  1. Post Type: With multiple Apple products available through the Best Buy Upgrade+ Program, we used carousel posts to promote the MacBook Pro, iPad Pro, and Apple Watch Ultra.

  2. Message and Creative: We focused the message and creative on pre-Black Friday, which focused on affordability, and a second carousel post-Black Friday, which focused on FOMO.

PAID SOCIAL CAMPAIGN

RESULTS

  1. New Customer Campaign: This campaign drove $1.76MM in originations for the Best Buy Upgrade+ program, proving to be a hugely successful campaign for new customer acquisition with excellent audience engagement on part with our internal benchmarks.

  2. Existing Customer Campaign: This test and learn proved incredibly successful, driving more than $500,000 in transactions. This email drove the highest engagement metrics of any campaign for Citizens Pay as a line of business to date, with an open rate of 57% (avg. 46%) and a 2.79% CTR (avg. 1.1%).

    A takeaway from this piece of the campaign is that with a list of over 10,000 existing customers with at least $1,000 on their line of credit, at least $10MM of available credit was not utilized. With this campaign driving $500,000 in transactions, at least $9.5MM of available credit is still utilized, where we can drive monetization over the next year with regular seasonal campaigns. This is low-hanging fruit to drive high ROI for the program.

  3. Paid Social: This campaign drove the highest engagement rates in the history of paid social campaign tracking for the line of business. It drove 1.55MM impressions and outperformed program benchmarks with an average 2.71% CTR (vs. 0.51% CTR average) and more than 42,000 clicks.

Katelyn SojaPrimary Showcase