Display Advertising Case Study – Lyft
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Background
Lyft, a company playing a key role in the sharing economy, aims to build community through ride sharing. As you would expect, Lyft has a mobile app, designed to make the ride hailing and sharing experience easy. To gain scale they had to attract drivers and to do this they used Google’s display advertising product.
Strategy
Digital advertising is a key part of Lyft’s marketing strategy. Using display advertising to gain exposure is great but yo increase conversions, Lyft needed to find the right users – those who were good Driver candi-dates.
As we have mentioned in this book before, they therefore needed to understand their audience and they did. Lyft knew its Driver candidates were seeking ways to make money for driving and so they used in-market audiences on the Google Display Network. In-market audiences enabled them to reach their target audience across thousands of website and Google’s network such as YouTube. They identified key audi-ences from their historic data (and with some help from their Google Account Manager) and used this to make assumptions, optimise, test and develop.
Results
The results were impressive. Lyft saw an overall increase in conversions of 74% month-over-month after implementing in-market audiences, which clearly indicated the attraction of new potential Drivers, not simply a cannibalization of existing marketing activity.
Key lessons
Through a good understanding of your audience, smart targeting and teamwork, you can build display ads that reach the right audiences in the right place at the right time with the right message.