IG Markets Uses Similarweb Digital Data to Win in Volatile Markets
During the short stock surge of early 2021, emerging trading platforms rose to prominence, prompting IG Markets to leverage Similarweb Digital Data for informed strategic decision-making.
About IG Markets
IG Group is an online trading provider with over 300K active traders, offering access to spread betting and CFD trading, which allow traders to bet on the direction of equities, bonds and currencies without owning the underlying assets.
"With demand rising, Similarweb did more than just help us spot a trend. It gave us valuable insight into what our competitors were doing, who they were targeting, and with what messaging. The platform enabled us to weigh everything up, and make an informed decisions about our marketing tactics during an incredibly volatile period."
Francesco Santoro
Data Solutions Lead at IG Markets
The Challenge
Individual investors banded together
Navigating the surge of short stocks in early 2021, trading platforms like Robinhood seized the spotlight, compelling investment platforms to ride the wave of hype-driven interest through paid advertising. As individual investors rallied against hedge funds, IG Markets had to make accurate, and timely decisions about their marketing strategy to ensure their ongoing success in a volatile market.
The Solution
Informed decision-making through competitive data
Utilizing Similarweb, IG Markets closely monitored the uptick in display and search ad presence among competitors on specific publisher sites. This analysis unveiled the tactics and messaging these competitors employed to target specific audiences. Furthermore, IG Markets assessed competitors' programmatic bid amounts, analyzing keywords and placements that deviated from standard campaigns.
The Success
Making accurate strategic decisions
Utilizing Similarweb, IG Markets identified that competitors were sinking funds into poorly-targeted ad campaigns unsuitable for their target audience. Informed by this, they advised leadership against joining the ad spend frenzy. Leveraging Similarweb's competitive intelligence, IG Markets shifted from instinct-based to data-driven strategies, bypassing ineffective marketing trends and optimizing their budget for impactful initiatives, paving the way for business growth.
