Prisjakt is the largest price comparison site in Sweden in terms of visits. In terms of brand awareness though, the company was running in second place – 27% lower than the main competitor. Prisjakt recognized that the key to raising brand awareness would be reaching a new audience by complementing the brand’s general TV message with targeted campaigns. YouTube offered a way to reach specific audiences with a bespoke message.
Prisjakt is the largest price comparison site in Sweden, with further presence in Norway, the UK, Ireland and New Zealand. The company aims to have the most comprehensive price listings and product information on the market. The quality of the product data is outstanding and the search and filtering tools have made Prisjakt the natural choice for technophiles, creating a large community and forum.
The challenge for Prisjakt is finding new users outside the core demographic of young men and getting traction in less known product areas such as beauty products and sneakers. Despite being the leading price comparison site in terms of visits, Prisjakt is only number two in Sweden in terms of brand awareness, 27% lower than the main competitor.
Reaching the right audience with the right message
Prisjakt recognized that the key to raising brand awareness would be reaching a new audience by complementing their general TV message with targeted campaigns. YouTube offered a way to reach specific audiences with a bespoke message. “With TV, you can never do a campaign for robotic lawn mowers and expect to hit any large part of your target audience cost efficiently,” says Country Manager Andreas Stighäll by way of example. “With YouTube, you can target niche segments and still reach significant volume.”
Compared to other online video media such as Facebook, we saw that YouTube provides more value for money.
Prisjakt decided to move 25% of its marketing budget for the all-important Christmas period to YouTube, running for seven weeks alongside more traditional TV commercials. Several category-specific videos were produced for the YouTube TrueView format. Prisjakt showed off its inventory breadth by using intelligent remarketing strategies. Negative remarketing was used for existing users, ensuring that ads would target only new potential users. For important shopping days, such as Black Friday and Christmas Day, reach was amplified with YouTube reservation campaigns.
During the campaign period, Prisjakt halved the gap to the main competitor, from a 27% difference to 14%. (Source: UserReport survey, November 2014 to January 2015.) “Our goal was to halve the gap to the leading brand – an ambitious goal to say the least,”
Andreas says. “In seven weeks, YouTube helped us reach it.” Prisjakt further increased the number of new visitors by over 600,000 year-on-year.
What’s more, when users were asked to identify which price comparison site they were most likely to use, Prisjakt significantly improved its position and nearly closed a 30% gap to the main competitor. Over the course of the campaign, the gap in brand preference shrank to 2%. (Source: UserReport survey, November 2014 to January 2015.)
A new marketing strategy
Upon seeing the effects of the YouTube campaign, Prisjakt decided to shift strategy. In order to meet seasonal demand and respond to trends more quickly, Prisjakt found a new production partner to produce multiple videos in a speedy and cost-efficient fashion. A continuous presence on YouTube has been established as a base, with multiple videos launched monthly. Reach is further strengthened on YouTube during important campaign periods such as Black Friday, Christmas and back-to-school. “Compared to other online video media such as Facebook, we saw that YouTube provides more value for money,” says Andreas.