Unlocking Paid Social as a Channel for Customer Acquisition

Funding Circle was intermittently using paid social for retention and brand awareness when they set their ambitious growth goals for 2023. Recognising the need for a more diversified channel strategy to reach these goals, they approached Spin for a fresh start.

Our initial step was a thorough audit of their account, identifying key areas for improvement. We quickly discovered significant gaps in data and attribution, pinpointing them as critical areas requiring immediate attention before embarking on long-term growth strategies.

We partnered with Funding Circle to implement essential tracking solutions, including CAPI, to address the attribution challenges. Given their lengthy conversion funnel from application to loan issuance, establishing a system for accurate Meta result attribution was crucial. With this framework in place, we developed a visual dashboard for in-depth, daily performance analysis across the funnel, enabling precise optimisation at every level from campaign to ad. Following the data overhaul, we concentrated on driving application submissions at cost-effective CPAs. This involved monthly collaborations with their creative agency to balance strict brand guidelines with innovative, social-first creatives designed for performance.

Our test-and-learn strategy facilitated the introduction of new concepts into campaigns, scaling successful ideas to sustain CPAs. With a robust account structure and ongoing creative experimentation, our focus has shifted to refining targeting through creative iterations, applying insights from high-converting ads to tailor messaging and diversify formats and styles. This approach optimises ad delivery to the most valuable users across the Meta network, laying a solid foundation for continuous improvement.