From 17 Leads Per Month To 1,398 Per Month For Finance Company

Summary.

A UK based finance company approached us with the following Google Ads challenge:

• Decrease our cost per conversion
• Increase our number of conversions
• Increase our poor conversion rates
• Ultimately help us profitably scale up!

Needless to say, challenge accepted.

Solution.

1.  A VERY detailed data analysis carried out by our most senior media buyers and data analysts. From this, we were able to draw several conclusions, such as:

   – Click through rates and impressions were good but conversion rates were very low, with many keywords not driving traffic.
   – Performance grade: 27%
   – Quality score of 3.8 [7+ should be the target].
   – Advertising spend was being wasted through a lack of negative keywords.
   – Cost per conversion fluctuated a lot, with the current year being the most expensive on record.
   – Conversion drop started in August, Cost per conv. has increased but at the same time impressions and clicks have increasing as well.
   – Best days for advertising were Monday and Wednesday.
   – 99% of Conversions came from Mobile devices.

2. Advanced lead tracking implemented and tested.
3.  A data-driven strategy was formed using the findings from the analysis. This included:

   – Since the click through rate was high but conversion rate was low, there was a need to test a lot of new ad copy to improve relevance.
   – We recommended optimising the landing pages for conversions & running regular CRO tests.
   – Since most of conversions came from mobile devices, this is where the majority of budget should have been used to minimise wasted ad spend.
   – Since ads performed well on Mondays and Wednesdays, there was a need to improve the ads schedule.
   – With a quality score of 3.8, we needed to improve this by at least 2.5 to save £6,993.25 or mean 3,683 more clicks/month.
   – The negative keyword lists needed improvement, to minimise wasted ad spend. We estimated this to be £7,649.11 in the past 90 days.
   – Impression share needed improvement to compete against the competition.
   – Trial display advertising (remarketing, profiling etc.) to reduce CPC, increase traffic volumes and improve conversion levels.

Result.

• Profitably scaled from 17 leads per month to 1,398 leads per month. An 8,123% increase in leads in the first 3 months.
• Cost per conversion decreased from £1.4K to £14.70.
• Conversion rates increased from 0.15% to 8.29%.