Challenging Behavioral Recruitment for Investment Company | Liveminds — Greenbook

Challenging Behavioral Recruitment for Investment Company

Challenge

Liveminds recently used Behavioral Recruitment to successfully find research participants for a leading global wealth information and insight business. The client wanted to conduct research into whether their recent Direct-to-Consumer (D2C) marketing drive would be effective with competitors' customers.

Proprietary solution

Who were the participants?

The client needed to speak to people living in the small towns of Chichester and Winchester, UK. In addition to this requirement, the potential participants needed to meet the following criteria:

Have over £100,000 in investable assets
Already have an investment manager
Be the main investment decision-maker in their household
Be willing to set aside an hour for an in-home interview with the research team
Be comfortable talking about their personal finances - always a sensitive subject

What did the project involve?

The participants were asked to review the client's recent D2C marketing drive in a one-hour face-to-face interview in the participant's home. Five interviews were planned for Chichester and five for Winchester.

Using detailed demographic and attitudinal targeting, Liveminds was able to target Facebook adverts at high-income individuals living within a small radius of Chichester and Winchester town centres. Liveminds created over 60 different adverts to A/B test creative, imagery, and targeting to complete the recruit. For example, one set used historic imagery from Chichester and Winchester in adverts targeted at the respective locations.

Result

The project was a very challenging recruit with a small incidence rate combined with very specific location targeting and a demographic that is traditionally very difficult to recruit due to their busy schedules and lack of need for incentives. Using Behavioral Recruitment, Liveminds was able to successfully recruit excellent participants for the research and set up a seamless series of face-to-face interviews with the researchers.

About this project

Business issue:

Increase market share Brand / product / service repositioning

Market research specialties

Concept Testing Brand Positioning

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