BMO InvestorLine goes after female high-rollers with new app
Women who love to shop can determine what their ROI will be on that must-have winter coat with a new, downloadable widget, developed by Sweetspot.ca, that also delivers extremely high click-through rates for the brand.
Women who want to splurge on a new coat but want to make sure it’s a smart purchase might want to first calculate their ROI with a new Cost-Per-Wear calculator available on Sweetspot.ca, and launching as a BlackBerry application this week.
The widget is sponsored by BMO InvestorLine, which in the past five years saw an increase of 113% in female investors. Although women were turning to online trading as an alternative, they hadn’t necessarily done any marketing to target that demo specifically, says Jennifer Price, director of media sales for Sweetspot.ca, who developed the program.
‘So they came to us almost a year ago, wanting to look at different opportunities that we could work on together to attract a concentrated base of females that could potentially be interested in online investing, and have the money to do so,’ Price tells MiC. She says the applications had thousands of users in just the first few days of launching, and the click-through rate is in the ‘high double digits.’
‘It’s higher than any ad that I’ve ever seen – and that’s to go to the BMO InvestorLine site,’ she says.
BMO has sponsorship rights for the downloadable tool for the next six months. It’s promoted through advertorials in the Sweetspot newsletter and in other areas of the site. While this arrangement was made between BMO InvestorLine and the Sweetspot team, other media placements on the site for the brand are handled by Cossette.
‘We all work hard for our money and there’s so many temptations on how to spend it. I think it’s important for us to really view, when we do make a purchase, what kind of investment this is,’ says Price, about the tool’s popularity.
So while the suede pull-on boot might only cost you about $2.50 per wear, if you wear it twice a week this fall and winter, perhaps forgo the platform slingback pump that we calculate at a whopping $11 per wear. So what’s the ideal ROI target? ‘It’s all relative,’ says Price.