Online Insurance Comparison Site Uses Search Intent to Retarget on Social, Reaching More People and Lowering CPA
- 45% lower CPA than other lookalikes
- 14% lower CPA using WCA retargeting
- 45% lower CPA than other lookalikes
- 14% lower CPA using WCA retargeting
Looking for a Better Way to Do Business
An online insurance comparison site wanted to reduce the CPA of its Facebook leads and acquire more new customers through Facebook. As it stood, its CPA was too high to be profitable, and there was no easy, strategic way to gain more leads.
Ensuring More Leads and Lower Cost
The company decided on a cross-channel approach, using both Marin Search and Marin Social to combine the strengths of both into a single, powerful solution.
With Marin’s marketing suite, the company ran tests using search intent to retarget users on Facebook, defining a better-segmented audience bucketed into three groups based on search keywords – Brand Keywords, Generic Insurance, and Generic Car Insurance.
Then, the Marin Social team used Facebook Website Custom Audiences (WCA) and Lookalike Audiences, both based on search intent, to retarget and extend the company’s reach.
Positive Results
By creating lookalikes and retargeting on social based specifically on search intent, the company saw outstanding results:
- 45% lower CPA than other lookalikes
- 14% lower CPA using WCA retargeting
Explore more content
To help you stay on the leading edge of performance marketing, we surveyed over 300 B2B marketers to uncover actionable insights that will help you improve the performance of your PPC investment. Through a Marin and LinkedIn partnership, we sought out to understand what B2B marketers face right now and how they are dealing with a complicated market. Read the full report to get a better understanding of how B2B marketers are changing their approach this year.
What You'll Learn from the Report:
- How budgets have changed through the years 2020 to 2023 and how budgeting complexities affect the work of advertisers this year.
- What challenges are most prevalent this year and how other marketers like you are adapting.
- The critical role audience targeting plays in your success, especially during a recession, and some interesting trends relating to targeting techniques.
- The types of content and campaign management techniques are currently helping advertisers move buyers through the sales funnel.
- What paid social or PPC channels are providing the best ROAS or conversions for B2B right now.
Read the Report Now
Community-based digital spaces like Reddit offer great opportunities for advertisers to connect with their target audience. But to advertise successfully on these high-engagement platforms, you must first understand what differentiates them from other channels.
So, what exactly is a high-engagement platform?
High-engagement platforms are virtual gathering places that encourage users to participate constructively in discussions about their interests. Reddit users are not just passive viewers; they’re active participants conversing in highly specific subreddits where they invest time and energy into deep discussions.
This makes Reddit a great place to run ads that build brand awareness. Users won’t just scroll past an ad for your product; they’ll engage in a conversation about it. But to get that brand engagement from Reddit’s users, you have to advertise the right way. High-engagement platforms require advertisers to take a more authentic, non-promotional approach, which we’ll dive into in detail. But first, let’s determine if Reddit is right for you.
Should I advertise on Reddit?
Reddit knows they have a valuable audience for advertisers, so running ads there can be quite expensive. Therefore, you want to ensure that you’ll see decent ROI. Here are some indicators that Reddit is right for your brand:
- Your Audience is Active on Reddit: The first step is identifying whether your target demographic uses Reddit. Tech-savvy, younger audiences (Gen Z and Millennials) frequent Reddit for in-depth discussions on everything from gaming to finance. If your product or service fits into a particular niche — like tech, fitness, or home improvement — there’s a good chance a relevant community already exists.
- Your Brand Can Add Value to the Conversation: Redditors expect brands to be more than advertisers; they want them to provide value through insights, entertainment, or problem-solving. If your brand can share knowledge, tips, or solutions within a community, Reddit could be a strong fit. For example, a SaaS company could provide expert insights in subreddits like r/Entrepreneur or r/Marketing, while a beauty brand might thrive in r/SkincareAddiction by offering practical advice.
- You’re Ready for Authentic Engagement: Reddit is known for its transparency and active user participation. Brands that succeed on Reddit are those willing to engage honestly and openly with users. If you're prepared to monitor feedback, respond genuinely, and build trust over time, Reddit could be an excellent platform to showcase your brand. Just make sure you’re ready to do the work.
- You Have a Niche Product or Service: One of Reddit's greatest strengths is its ability to connect advertisers with communities built around specific interests. If your product serves a very targeted audience (e.g., gaming accessories, vegan food, or specialized software), Reddit’s subreddit structure will allow you to zero in on those consumers.
If you’re unsure, consider using an AI-powered forecasting tool to get a clear picture of how your campaigns will perform before you go live.
If you’ve decided Reddit Ads are right for you, we can help you get started. Here are our top tips for advertising on Reddit and other high-engagement platforms.
1. Find the right niche
Subreddits allow advertisers to target extremely specific interest groups. When creating ads, take advantage of Reddit’s robust targeting features. Make sure the subreddits you choose are relevant to your industry and target audience and have a high engagement rate.
For instance, if you're advertising a productivity app, you might consider placing ads in subreddits like r/productivity, r/getdisciplined, or even niche communities like r/bujo (for bullet journaling enthusiasts). This precision helps you ensure that your message reaches the most interested audience.
2. Use Reddit’s ‘Promoted Post’ format
One of the most popular ad formats on Reddit is the Promoted Post. This ad type appears organically within a user’s feed and blends in with regular content, making it less disruptive. Promoted Posts allow you to engage with users via comments, making them a great way to generate discussions. Redditors love to debate, so use this opportunity to ask questions and encourage comments on your ad.
Make sure the content feels native to Reddit, keeping the tone and style aligned with the subreddit you're targeting. Unlike eye-catching Instagram ads, Reddit ads should prioritize value, authenticity, and sometimes even humor to resonate with users. Which brings us to our next point…
3. Craft ads that don’t feel like ads
Reddit users are particularly sensitive to blatant marketing efforts. So, when you run ads on Reddit, it’s crucial that your content doesn’t scream, “Look at me, I’m an ad!” Instead, think about how you can provide value or spark curiosity. You might include a helpful tip, an interesting fact, or a thought-provoking question. Consider using Reddit-specific jargon or references to better connect with the audience.
For example, your creative could incorporate memes, gifs, or pop culture references that are popular within the subreddits you target. The goal is to make your ad blend into the discussions happening in the subreddit.
4. Incorporate User-Generated Content
One of the easiest ways to create an ad that feels authentic is by incorporating user-generated content (UGC) into your ads. For instance, you could highlight positive reviews or discussions about your product that have already happened on Reddit. This makes your ad feel more like a recommendation from a fellow Redditor than a direct sales pitch.
You could also sponsor an AMA (Ask Me Anything) session, where you sponsor experts in your industry to answer questions from the community. This will help establish your company as a thought leader in your industry and generate more interest in your product. Just make sure not to blatantly plug the product, as a sales pitch will make the whole thing seem insincere. A better call to action would be to offer a downloadable resource on the topics discussed, like a guide or whitepaper. You can require email submission for people to download the whitepaper then retarget them with email marketing.
5. Respond to comments
One of the biggest advantages of Reddit ads is the ability to engage directly with users in the comments section. Redditors are known for leaving detailed feedback, suggestions, or even criticisms. Brands that respond thoughtfully to comments — whether positive or negative — build credibility and trust within the community. A friendly, helpful presence in the comments can turn a critical post into a valuable interaction.
Engaging also shows that your brand is approachable and willing to listen, which is a big deal for Reddit users who prioritize transparency and authenticity. Plus, you can clarify any misconceptions or share additional insights about your product.
6. Automate campaign management
If you’re running ad campaigns on platforms like Google or Meta and want to expand to Reddit, Marin makes that easy. Our optimization suite makes creating and managing ads a breeze. Plus, it unifies all your different publisher accounts, so you can report on and manage everything in one AI-powered control center.
Reddit's marketing offering is still pretty basic, but Marin has been helping marketers manage their campaigns for decades. Determine exactly how much money you should spend on Reddit and all your other marketing channels with our Budget Optimizer. Automate campaign management with our script-based customizations and rule-based optimizations. Unlock growth opportunities with Insights. And so much more.
Curious to understand how Marin can supercharge your revenue growth on Reddit? Chat with an expert to learn more.
Background
QUODD is a leading provider of real-time market data and end-of-day pricing solutions, serving a diverse client base across the fintech, wealth management, investment management, and retirement sectors. Known for delivering fingertip access to comprehensive financial data with unmatched quality and speed, QUODD's clients rely on them for mission-critical information across equities, options, bonds, futures, and more.