Reach and Understand Niche Audiences
How N26 reached a new niche audience and grew their market share
Founded in 2013, N26 is a fast-growing online bank that challenges the original brick and mortar institutions. Its mobile banking application is leading in Europe and also expanding into the United States.
“Because of Latana, we were able to bring a high-tech approach to audience segmentation, finding niche audiences for our core German market. We gained insight into where we stand against competitors and are now using this information to become even more competitive in the fin-tech space.”
The Challenge
N26 Wanted To Understand Specific Audiences
N26 is already a leading online bank in Germany. However, it wanted to further understand several niche audiences to expand its reach and market position. It had a student ambassador program with specific companies and were looking to target cities and top 3 segments. It was important to N26 to compare this audience’s perception against both online banks and traditional brick and mortar institutions.
The Solution
N26 Turned to Latana's Audience Segmentation Solution
N26 utilized Latana’s Brand Tracking solution to dive deep into its audience segmentation. Latana provided N26 with the ability to measure brand position within a hyper-targeted group. Utilizing Latana’s MRP (Multi-Regression and Poststratification) Algorithm, N26 was able to target a very niche audience within a specialized vertical that would drive its brand and marketing strategy.
The Result
N26 Was Able To Drive More Targeted Messaging
N26 was able to gain a well-rounded perspective on where it stood within a niche audience and utilize this information to help the brand grow in other markets as well. N26 was able to apply an adaptive approach to make the right investments in the right markets for its niche segment, thereby saving time on a go-to-market strategy as well as brand and campaign spend. Latana provided N26 with the capability to measure its brand position within a hyper-targeted group.
Key Findings
N26 was able to focus on a niche segment (students) and utilize brand KPIs to execute hyper-targeted campaigns and grow its audience by over 20%
Brand awareness levels in Germany (home market) that show its niche audience has grown in addition to gaining market share in the US
N26 was able to grow LTV (lifetime value) of its niche audience by utilizing a hyper-targeted approach based on the Latana Brand Tracking Algorithm
