Seeing an +88% Increase in Instagram Followers in 4 Months
Neo Financial is a digital bank focusing on cash back offerings through a partner network of businesses in Canada. From September to December 2021, Neo’s Instagram saw a +88% increase in followers and a +17% increase in website traffic MoM due to their #Neo12Days giveaway campaign.
- Tying Campaigns into the Instagram Feed: Neo Financial created a 12 days of giveaways campaign where each day they announced a new partnership for major giveaways during the month of December 2021. All the contests invoked engagement and participation from current and new followers. In December 2021, Neo posted 15 times and saw +796% more engagement than at the beginning of Q4 2021.
- Contest Prizes: Neo focused on three types of giveaways; money prizes, gift cards and packages. Money prizes garnered the highest average engagement at 4.8K. Posts that were made in collaboration with other brands/influencers (which means that the post was shared to both Neo and the partners followers) saw the highest average engagement at 4.8K.
- Partnerships: Since Neo Financial is a card that offers the benefit of cash back for shopping locally, many of their cash back partners support them online. Neo also uses influencer marketing to share how Canadians are using their cards. Neo partners usually create content showing their followers how they use their Neo Financial cards. Creators feature what they bought and how much cash back they got on their purchases.
Neo Financial, a digital bank, saw a +88% increase in social following from September to December 2021 due to a posting strategy and campaign called “#Neo12Days” targeting follower engagement where Neo posted 12 days of giveaways.
From November 2021 to December 2021 the website traffic in Canada saw a +17% increase from 786K to 925K visits respectively.
Neo Financial increased social traffic in Q4 2021 by focusing on two main strategies:
1. Instagram Giveaways
Neo Financial launched a #Neo12Days campaign on Instagram with 12 days of giveaways in a row.
In December 2021, Neo launched an Instagram campaign called #Neo12Days which featured 12 days of giveaways. In December 2021, Neo posted 15 times and saw +796% more engagement compared to the beginning of Q4 2021.
Neo focused on three types of giveaways. Money prizes garnered the highest average engagement at 4.8K.
Neo also experimented with three different partnership associations through their Instagram posts and contest terms.
1. In Collaboration Post. One post is shared on both Neo and their partners’ profiles.
2. No Collaboration. Posts where only Neo is providing the prize.
3.With Partner. Posts where Neo has a partner but post is only made on their account.
Of the three different post types, giveaways that were made in collaboration (posted to both their partner and their own audience) saw the highest average engagement at 4.5K.
Throughout Q4 2021, Neo did not run any ads towards the Instagram giveaway posts but did run a tuition ($5K) giveaway in October and November 2021.
With the use of the #neopartner hashtag on Instagram, influencers and partnering stores can tag their affiliation to Neo’s cash back benefits.
Influencer Partnerships - Lifestyle
How Canadians are Using Neo Financial
Since Neo Financial is a card that offers the benefit of cash back for shopping locally, many of their cash back partners support them online. Neo also uses influencer marketing to share how Canadians are using their cards.
54% of influencers Neo Financial partnered with in Q4 2021 included lifestyle creators in the beauty, fashion and home industry. These creators usually create content showing their followers how they use their Neo Financial cards. Creators feature what they bought and how much cash back they got on their purchases.
12K Views | 619 Engagement
2.1K Views | 76 Engagement
Influencer Partnerships - Food & Finance
How Canadians are Using Neo Financial
The remaining 56% of creators who posted in Q4 2021 are in the food industry (12%) and financial industry (44%). Financial influencers create content to help encourage followers to make stronger financial decisions with Neo.
Food bloggers show their meals at partnering restaurants so followers can see where they can get cash back with their Neo cards.
1.3K Views | 107 Engagement
Make your digital strategy bulletproof.
Get insights like these, customized for your audience and competitors.Learn about Research-AS-A-SERVICE →