29 %
decrease in CPMM
36 %
increase in Declared Investment Value


XP Investimentos is a Brazilian investment management company. The company offers fixed income, equities, investment funds, and private pension products, as well as offers wealth management and other financial services. XP serves customers in Brazil and has offices in São Paulo, Rio de Janeiro, New York, Miami, Cayman Islands, London, and Geneva.


Rico, a property of XP Investimentos, started working with Kenshoo in February 2020 and brought in Kenshoo’s Expert Services Team to optimize its social advertising program, with the primary goal of decreasing CPMM and increasing Website Conversion Value. 


Kenshoo and Rico ran a split cost A/B test to determine how to best optimize their program. Kenshoo implemented a Google Analytics integration to benchmark against Rico’s goals and was able to optimize directly to GA data, as well as Audience Bid Multipliers to determine their best-performing gender and age segments. The analysis revealed Rico’s best demographics and enabled Kenshoo to increase the investment and targeting this segment. 


The half of the A/B test that utilized Audience Bid Multipliers within Kenshoo Social reached Rico’s top segment with 51% of its budget, while the half of the test that did not target that segment with just 39% of its budget. The half using Kenshoo Social decreased CPMM by 29% and increased revenue by 36%.

  • 29% decrease in CPMM
  • 36% increase in Declared Investment Value