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How Wells Fargo Adjusted its Facebook Ads Strategy in Response to COVID-19

April 20, 2020
Charlie Grinnell
in
Case Studies 💡

From pausing spend to switching creative assets and more, learn how the American bank pivoted ad strategy to increase both efficiency and effectiveness.

In mid-March 2020, Wells Fargo paused its Facebook ad spend in response to the COVID-19 pandemic but quickly resumed the same level of spend as they shifted their ad strategy moving into April.

That’s not all – between March and April 2020 Wells Fargo made a noticeable shift in messaging from advertising about branch locations & splitting bills with friends using Zelle, to educating consumers about their mobile app offerings. Creative also shifted from real-world photos to visual illustrations.

Diving deeper into creative strategy, they refined their approach by shifting from quantity to quality of ads with a significant reduction in the number of creatives in market. While reducing the number of creatives, they increased the ad spend by 25%.

At the end of the day, this strategic pivot in approach resulted in a 25% increase in web traffic from Facebook to Wells Fargo’s website in April 2020 vs. March 2020.

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Charlie Grinnell

Charlie is the CEO at RightMetric. You can connect with him on Linkedin.

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