Connecting authentically with a new generation of ad-fatigued audiences
Planswell is a Canadian-based fintech company that offers free financial planning online. The brand's goal was simple: get in front of working audiences and drive new households to its retirement planning service. The brand saw TikTok as an opportunity to expand its reach and tap into new audiences with resonant messaging.
Planswell implemented the TikTok Pixel, a piece of code that helps brands find new customers and optimize ad campaigns, on its website. Through TikTok Ads Manager, Planswell ran auction In-Feed Ads, reaching broad audiences between 25 to 55 years old. Their creative was bold in its "lo-fi" production nature, as CEO Eric Arnold simply shot a few video selfies from his phone, teasing an answer to the question "When can you retire?" to the TikTok community. Tapping "LEARN MORE" linked out to Planswell's free financial plan building experience.
With this campaign, Planswell demonstrated the shifting tide in the digital ad space, where more and more brands are foregoing big productions and polished visuals in lieu of raw, unfiltered, "lo-fi" creative that is clearly resonating with a new generation of ad-fatigued audience.
Planswell's In-Feed Ads drove more than 10 million views at a 0.57% click-through rate to the site. More importantly, the campaign was able to directly acquire new households, reaching the brand's target cost per acquisition while remaining competitive against other platforms.
The Planswell campaign further proves TikTok's ability to consistently drive lower funnel brand objectives — even with older demographics, as audiences 35+ responded especially well to Planswell's In-Feed Ad creative. Planswell now expects TikTok to become a staple within its larger media plan, as it has seen that the platform can drive incremental households for its business.
"At the time, our campaign on TikTok had driven the lowest cost per acquisition of any platform—with higher quality leads too. The common misconception is that TikTok is for Gen Z only. But we were able to reach a broader age demographic on the platform, with those aged 35+ being especially receptive to our message. We'll look to keep increasing spend on TikTok," said a representative from the Planswell team.