Foreign exchange start-up CannyApp has created TV-quality Facebook adverts to use as co-branded opportunities with travel partners to target holidaymakers.
The firm, which launched last month with a 3% cashback offer to its Mastercard-backed card users on all their non-sterling spend, has already signed up a number of travel clients.
These include Rock Insurance, Teletext Holidays, Alpha Rooms, Blue Bay Travel and cruise.co.uk who will earn 1% of the spend on the cards over their three-year lifespan.
The adverts will be used to target holidaymakers on social based on when they have booked to travel with ads around 28 days before departure.
This is thought to be the sweet spot when holidaymakers are likely to decide to sort out their holiday spend.
Jane Atkins, managing director of CannApp, said: “Our very simple 3% Cash back message lends itself naturally to video advertising, and we will be continuously updating and providing promotional content to our trade partners.
“We have made great progress in getting our first TV quality advert out to partners to use; they can co-brand the advert as required.”
CannyApp said the adverts can be used to target people who visited their websites to search for holidays or related product for s specific period even if they did not book.
The adverts have been produced at low-cost by media agency Content Gym cofounded by industry entrepreneur Steve Endacott, who is also a co-founder of CannyApp.
He said the videos will offer a ‘no risk’ co-operative advertising opportunity for trade partners allowing them to retarget the majority of people who come to their site but do not confirm a booking.
The firm expects to distribute the vast majority of its holiday cash cards through the trade, bringing incremental revenue to OTAs and other retailers who have holiday clients.
Rock Insurance managing director Antony Martin said: “Insurance brands like Rock’s Insurefor, have to drive high passenger volumes to compensate for their relatively low margin per policy.
“However, we do capture crucial data needed by CannyApp when marketing its FX card services, which is the destination and date of departure.
“One per cent of the non-sterling spend for the lifetime of the card is clearly a very attractive new income stream for a business like Rock Insurance.
CannyApp will also supply email and text templates, that have been pre-authorised by Mastercard in what is a heavily regulated financial services sector.
The start-up says it is in discussions with most of the UK’s largest travel retailers and expects to announce further deals over the next month.