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How Betterment Used A Custom Bidding Script To Refine Its Ad Strategy

Recorded: Jan. 21, 2026, 9:03 a.m.

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How Betterment Used A Custom Bidding Script To Refine Its Ad Strategy | AdExchanger

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Home Platforms How Betterment Used A Custom Bidding Script To Refine Its Ad Strategy

Platforms
How Betterment Used A Custom Bidding Script To Refine Its Ad Strategy By Joanna Gerber

Wednesday, January 21st, 2026 – 12:03 am
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Turning leads into conversions isn’t easy for any marketer – especially when using the product can represent a lifetime commitment.
Automated investing platform Betterment positions itself as a “long-term investing platform,” according to CMO Kim Rosenblum. Its primary offering is direct-to-consumer, but it also has B2B products and a 401k platform, so potential users often spend more time considering their options before signing up compared with its “more transactional” competitors, Rosenblum said.
To help reach and convert that audience more efficiently, Betterment has been working with media and tech consultancy AdSwerve as its programmatic partner since 2019.

Over the past few years, the partnership has expanded. AdSwerve now manages SA360 campaigns and programmatic for all three of Betterment’s business lines, and recently developed a custom bidding script to further improve Betterment’s digital ad performance.
That work continues as Betterment faced an unrelated challenge last week when a hacker breached the app’s systems to send a fraudulent message about cryptocurrency attempting to trick users into sending funds. The unauthorized access involved third-party software platforms, rather than Betterment’s own infrastructure, per a statement released January 12. Betterment did not share any additional comment.
Flipping the script
One of the first things AdSwerve noticed was that a lot of Betterment’s leads were fizzling out rather than converting.
Because Betterment focuses on long-term investing, its audience looks different from the typical investor who might just be “dabbling in investing or self-directed,” said Rosenblum. A custom script can account for that distinction so that Betterment can identify and reach people who are looking for a longer-term financial partner.
The script uses custom floodlight variables, which are data parameters like product category and deposit type, to score impressions based on predicted impact so that advertisers are bidding on the inventory likely to perform best.
Before developing the script, AdSwerve analyzed Betterment’s historical data to determine what improvements could be made, like revising the creative or running on different content themes.
It took about a week to write the custom script, which is running in Google’s DV360. For now, that is the only DSP where AdSwerve has deployed the custom bidding script, using it to rank conversions type by value. For example, if someone takes an action, like making a deposit, that’s more valuable than a simple click.

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The algorithm within the script ranks the performance of each conversion type so AdSwerve knows which audience to target.
Betterment tested the script before officially launching it, said Megan Folkmann, AdSwerve’s manager of media services, so that it could see at what point in the “learning phase” AdSwerve’s bidding surpassed Google’s automated bidding.
They ran A/B tests to track conversion rates, clicks and reach, with an emphasis on reach. “I want to make sure that we have the ability to broaden our reach,” said Folkmann, rather than “just pummeling the same users over and over until they convert.”
Expect the unexpected
The best tactics for generating conversions weren’t always what the Betterment team expected.
Custom bidding has been a helpful way to “actually check yourself on your assumptions versus what the actual data is saying,” said Matthew Prager, Betterment’s senior director of performance and brand marketing.
For instance, Prager and Rosenblum both expected that larger ad units on a webpage would outperform small mobile ad units because, as Rosenblum put it, small units often don’t “deliver a big message.”
But the data didn’t always reflect that.
AdSwerve’s results showed that the most effective ad format depends on where someone is in the buying journey. As part of a retargeting program, for instance, something small like a mobile banner can be “super effective,” Rosenblum said.
Seeing what she calls “the whole context” has changed her perspective on which ad units can create value, like the not-so-lowly mobile banner.
Before looking at the data from AdSwerve, Rosenblum said, “I would have also been like, meh, that’s clutter.”

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Betterment’s utilization of a custom bidding script, developed in partnership with AdSwerve, demonstrates a sophisticated approach to refining its digital advertising strategy, particularly in reaching its long-term investing audience. This case study highlights the importance of data-driven decision-making and moving beyond generalized assumptions within programmatic advertising.

The core of Betterment’s strategy, as articulated by CMO Kim Rosenblum and senior director of performance and brand marketing Matthew Prager, revolves around targeting an audience that is distinct from those solely focused on short-term, transactional investing. This audience demands a longer-term perspective, requiring Betterment to tailor its messaging and, crucially, its bidding parameters. The script’s deployment, facilitated by AdSwerve’s expertise, directly addresses this distinction. The script utilizes custom floodlight variables—data parameters such as product category and deposit type—to score impressions based on predicted impact, allowing advertisers to prioritize inventory likely to resonate with this specific long-term investor demographic.

A key element of this approach is the recognition that conversion types carry different values. The script, as implemented within Google’s DV360, ranks performance based on value, recognizing that a simple click is less valuable than a deposit action. This move reflects a more nuanced understanding of the customer journey and the importance of optimizing for high-value outcomes. It’s a shift from simply aiming for reach to strategically prioritizing conversion types that align with the company's core objective: attracting and converting users into long-term investors.

Before the script's implementation, AdSwerve conducted a thorough analysis of Betterment’s historical data, identifying areas for improvement beyond just revising creative or targeting themes. This proactive approach—as evidenced by Megan Folkmann’s emphasis on broadening reach rather than "pummeling the same users"—underscores the value of data-driven hypothesis testing.

Notably, the script’s success challenged initial assumptions about ad unit performance. Contrary to Prager and Rosenblum’s initial expectations—that larger, more prominent ad units would outperform smaller mobile banners—the data revealed that smaller units, particularly mobile banners, were highly effective within the retargeting program. This demonstrated the importance of adapting to the customer’s journey and recognizing that engagement can occur in diverse contexts. The script facilitated a “check yourself on your assumptions” approach, promoting a reliance on data rather than ingrained marketing instincts.

Ultimately, Betterment’s adoption of this custom bidding script with AdSwerve showcases a commitment to a truly data-centric approach to advertising. By acknowledging the distinct needs of their long-term investing audience and prioritizing conversion value, they were able to not only refine their ad performance but also challenge conventional marketing wisdom.