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Case Study

Finance Case Study: Global Financial Services Provider

CPA driven campaign exceeds expectations and outperforms targets in 15 markets worldwide.

Client challenge

Our client is a Global financial services provider of online retail foreign exchange, currency conversion, and online foreign currency transfers. The objectives were twofold, across two campaigns. This campaign was based on a CPA objective with the aim of driving customers to open a live or free demo trading account with a CPA target across three key markets (U.S., UK, Singapore). The client wanted to achieve 5 million impressions at a $2.00 CPM. If the campaign was successful, the client wanted to dramatically increase spend and market reach through future campaigns.

Further to this, a retargeting objective was directed towards newsletter subscribers with a goal of 1 million impressions at $2.00 CPM.


Delivered over 50 million impressions served to finance professionals and 10 million impressions to retargeted prospects.

  • 50M

    Impressions served to finance professionals

  • 10M

    Impressions to retargeted prospects

  • 300%

    Exceeded the target by

Achieved a CPA of $46.78, exceeding the target by 300%.

  • The Exchange Lab proved to be the best performer on plan against CPA performance
  • A second campaign resulted in The Exchange Lab serving over 270 million impressions, bettering the new CPA target by 30%


As a result of The Exchange Lab’s multi-platform approach and real-time insight, a decision was made to run the rest of the campaign on the two best performing platforms.

  • To target finance professionals, The Exchange Lab recommended channel targeting across a combination of business news and finance sites
  • An initial testing period determined two demand side platforms were driving the highest conversion rates, the campaign was re-optimized to continue on these two platforms
  • A re-targeting strategy was implemented to target users 24-48 hours after they read the newsletter which proved to be a successful approach for driving users to the site
  • The campaign was expanded from three to fifteen markets worldwide, resulting in a second campaign being rebooked (400% increase in budget)

The continued success in driving conversions lead to the client’s decision to expand the campaign to 15 markets for the final two months of the campaign.


Working with multiple platforms allowed The Exchange Lab to generate the most effective performance for each campaign.

  • Look-a-like modelling demonstrated that targeting a combination of FTSE 100 and NASDAQ IP addresses and users with household incomes of more than 150K drove the highest conversion rates