Customer
Bitpanda
Industry
Fintech
N. of employees
700+
Markets
30+ countries
Ad channels
20+
Clarisights Daily Active Users
15+
Use cases
About Bitpanda
Bitpanda is Europe's leading crypto platform, and offers users a selection of over 2,800 digital assets, including more than 500 crypto assets and numerous stocks, ETFs, precious metals and commodities - one of the most comprehensive ranges of digital assets available in Europe. Operating in the volatile cryptocurrency sector, Bitpanda serves over 5.5 million users.
With large scale digital marketing operations, Bitpanda needs quick access to data and insights to grow efficiently and stay ahead of competition.
Key Results
New performance insights across paid media, creative optimization and SEO
All marketing data (channel, backend, attribution) harmonized and ready to be analyzed in a single place, down to the most granular level
Marketing insights and reports at the speed of business, without dependencies on data/BI teams
Challenge
Effective marketing steering requires quick, easy access to data and insights
Bitpanda runs large scale digital marketing operations across paid search, paid social, programmatic, affiliates, partnerships, and organic. This covers over 20 channels, hundreds of thousands of ad groups and creatives spread across 40+ markets.
All marketing decisions - from budget steering to campaign and creative optimization - are data-informed.
The company-wide BI setup provided a high-level performance overview, but was not enough for agile, data-informed marketing steering. It fell short on deep cross-channel insights, creative reporting, and time to insight.
When evaluating how to best achieve the required level of marketing reporting and insights, the team aligned on these 3 main factors:
Insights depth - Campaign-level reporting was not enough. Full-funnel analysis and creative optimization require all marketing data - channel, backend and attribution - joined and harmonized down to the most granular level. Unlocking cross-team insights was also a key requirement;
Time to insight - In such a fast-paced industry and digital marketing landscape, speed and agility are key. This means marketers need the flexibility and control to self-serve data and uncover insights at the speed of business. Waiting weeks for data/BI support was not an option;
Total cost of ownership - A clear understanding of how much would it cost to maintain and update the marketing reporting system (for both people and tools);
Evaluation framework - key factors
The company-wide BI setup was not enough
Most marketing teams use the company-wide BI setup, visualizing data on a tool like Looker, PowerBI or Tableau, powered by an ETL tool (managed by the data team) for data ingestion.
While this setup works well for a high-level management overview (campaign-level), it falls short for enabling quick, data-informed marketing steering on such a large scale and complexity.
The team felt various shortcomings and limitations:
Insufficient data granularity (ad group, ad set, asset level) for optimization analysis
Lack of creative-level insights
Lack of cross-channel insights
Static dashboards don’t enable data exploration for marketers
Dependencies on data/BI teams for any changes
After careful evaluation, the team realized that building on top of existing tools would not address their needs and solve the problem. These tools aren’t specifically designed for digital marketing use cases, and they would require substantial investment in dedicated analytics resources to build and maintain complex data models and harmonize multiple data sources.
The company-wide BI setup is not enough for digital marketing, given the scale and complexity, ultimately creating a significant bottleneck in speed to insight.
Dependence on Data/BI teams leads to slow time to insight and missed opportunities
The common BI approach previously described leads to significant dependencies on data/BI teams. Any changes to dashboards, metrics or dimensions requires submitting a ticket and waiting for weeks or months. These systems don’t provide the control and flexibility marketers need to explore data and iterate quickly.
With the digital marketing landscape evolving faster than ever, data requirements keep changing and the data/BI team can’t keep up. This leads to missed optimization opportunities, especially in such a fast-changing industry.
In addition, ad-hoc reporting tickets take time away from marketing analytics priorities: SKAN implementation and marketing measurement (Marketing Mix Modeling, Incrementality, Multi-touch attribution).
Blind spots: creative optimization and UA-Organic effects
The team identified critical gaps in their analytics capabilities, particularly in 2 key areas: creative optimization and cross-team insights (across Performance, Affiliates and Organic). These limitations were leading to missed insights and optimization opportunities.
Creative optimization requires 1) rigorous and iterative testing to uncover winning creative formulas, and 2) spotting fatigue early on. For 1), it’s critical to understand what creative elements drive performance. While the team had naming conventions in place to group creatives, the BI tools don’t display the ad creative. When there are thousands of creatives running at the same time, naming conventions no longer suffice in building insightful reports, and therefore, don't allow for exploration or quick iterations.
UA and Organic teams were operating in silos, each with their own reporting, missing a holistic picture of marketing efforts. For instance, teams were not exploring potential cannibalization effects between paid and organic search.
Solution
Single source of truth for digital marketing = cross-channel data, down to asset level
Clarisights became the marketing analytics platform for every use case - from high level monitoring to creative optimization - covering all channels (paid search, paid social, affiliate, programmatic, display, partnerships and organic).
The entire digital marketing team has access to all marketing data (backend, channel, attribution) in one place, down to the most granular level. Including all dimensions and metrics.
The Solution: how Clarisights works
Self-service reporting for marketers (no-code)
Clarisights allows all digital marketers to “own” their reporting - i.e., to build their own dashboards/tables, add/edit metrics and dimensions and group data the way they need. All within a no-code interface, without any data/BI dependencies. Dedicated control access and governance measures are designed to prevent “data chaos”.
The platform follows the “low floor, high ceiling” philosophy: it’s accessible and easy for novice users, yet sophisticated and flexible to support advanced users and use cases - so that everyone can work together in a single hub and collaborate effectively.
Achieving efficient growth: new insights
Creative optimization
The team needed an easy way to group creatives by concepts, elements, formats, etc based on the naming conventions and analyze the full-funnel performance. With all marketing data automatically joined and harmonized, Clarisights’ custom dimensions enable dynamic grouping. This way UA managers see the full funnel performance of any creative grouping, with all relevant metrics next to the ad preview. This leads to new insights, better tests and faster iteration cycles.
In addition, UA managers have line charts of individual creatives performance and alerts to spot fatigue early on and refresh creatives before it’s too late.
Holistic marketing: UA-Organic insights
By combining paid media and organic insights, UA managers can explore cannibalization effects and effectively steer. For instance, having keyword-level Google Search Console and Google Analytics data together allows UA managers to spot cannibalization and adjust accordingly.
Impact
More performance tests and effective collaboration
With all marketing data joined and harmonized, down to the most granular level, marketers now go from questions to insights in minutes. As a result, teams are testing more and uncovering additional optimization opportunities.
By having a single source of truth, down to asset level, everyone can explore what’s working in other markets and channels. This drives effective collaboration and shared learnings.
In addition, marketers have more time for campaign optimization and strategic work, instead of spending hours sifting through high-level dashboards, ad platforms and spreadsheets.
Insights and reports at the speed of business
The self-service platform empowers marketers to explore data, test hypotheses, diagnose performance changes and transform any chart in a few clicks.
Any ad-hoc management question is now answered on the fly. Without delays, having to wait for BI/data support or manually preparing data on spreadsheets.
Efficiency gains: creative optimization and holistic UA - Organic
The team uncovered winning creative formulas that significantly improved performance. By doubling down on a couple successful creative concepts, they achieved a significant reduction in CPA over a two-week period. Additionally, UA managers can now proactively identify signs of ad fatigue, allowing them to refresh creatives before it’s too late.
By combining paid media and organic data, teams can now analyze the complete user journey and collaborate more effectively. This integrated approach drives efficiency, helping to achieve ambitious growth and profitability goals.
A trusted, close partnership for what’s next
With the UA landscape and FinTech industry evolving faster than ever, speed and agility are key. “The Clarisights team has been outstanding, accommodating custom integration requests and special requirements. Our Customer Success Manager is very responsive and supportive”, says Maria. “This gives us the confidence that we’re never held back by analytics. No more waiting for data requests or missing out on optimization opportunities.”
See the platform in action
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