A prominent global asset management firm tasked HomeTree Digital to assist in the launch of their Google Ads program. The team quickly laid out a plan that included conducting keyword and market research as a starting point. This bottom-up approach allowed the firm to understand and monitor the latest trends in keyword searches. Therefore, positioning them to better understand their competition and tailor their content to their audience. To set expectations the team provided projections and assisted in defining a starting budget. The team understood the importance of maximize results on the initial budget to clearly show the new channel’s value.
The financial services industry includes some of the highest CPC (Cost Per Click) rates out of any industry. This emphasized the need to be selective due to high competition in the industry. A comprehensive keyword set with metrics as audience intent, volume, funnel-phase, competitive density, and more, can assist in the process.
Google Ads are unique to their counterparts in certain ways. The most noticeable difference is that the intent is initiated by the user. Unlike social media, you are not targeting individuals directly. Instead, the individual types and searches for specific keywords and you bid against your competitors for a view. The highest bidder wins. Because timing is a key factor when it comes to converting a sale, these type of inbound leads can prove invaluable. The positioning of your ads can define the results you see.
As the discovery phase kicked off, the HomeTree Digital team met with the asset management client for a deep dive into the company’s strategic goals, objectives and expectations. To assist in the decision-making process, the strategist team reinforced the client with a competitor analysis report that included ad tactics, budgets used, creatives and messaging.
HomeTree Digital’s strategy team then immediately developed a comprehensive plan and presented the findings to the client’s marketing team. This began a collaborative approach to trim, select, and group keywords that aligned with the business’s strategic goals. As a bonus, the HomeTree Digital team also provided research and recommendations around retargeting strategies, content, and audience criteria. For example, the financial marketers learned about being able to target and drive direct competitor traffic to your landing page, or traffic related to certain related online thought leadership material.
With a multitude of data and findings available, the strategy team was able to implement a formulaic approach to down-selecting phrases. These selected phrases would lower the CPC, contain a high level of relevance, and an acceptable amount of competition. Recommendations were compiled and provided to the client.
While reviewing the findings with the team, Google announced the sunset of Universal Analytics 3 for their newer Google Analytics 4 tool. To avoid any disruptions to year-over-year analytics and reporting, the team was then tasked to setup the client’s new GA4 account. In parallel, the Google Ads account was setup—by creating various campaigns, location and demographic targeting, conversion points, and devising ad copy.
The research and Google Ads account set up was a 6–8-week process that resulted in a comprehensive set of keywords. This research helped reaffirm ad content for other channels and platforms. It also validated desired focus areas the firm was eyeing and planned to target. The Google Ads strategy positioned the client to perform well in the highly competitive financial services advertising landscape.
The data provided estimates for more than five potential campaign scenarios. The scenarios varied in audience intent levels, volume of searches and average CPC. As a result, each had unique estimated CPL (Cost Per Lead). At its maximum, the estimates assumed that the ad account could run at $1,700 lower than the client’s original budget and bring in an estimated 36 targeted leads per month.
About HomeTree Digital
HomeTree Digital is a full-service digital marketing agency for financial services. We specialize in branding & creative, videography, web & mobile development, integrations, automations, email marketing, social media marketing, paid advertising, SEO, and analytics. If you are facing challenges in any of these areas, please reach out to us for assistance.
HomeTree is defined as a wise resourceful home that provides knowledge, instills inspiration, encourages creativity and protects. While harmoniously connecting its residents through its branches and roots to the outer world. This accurately describes the approach we take when it comes to our clients. We believe in excellent customer service and prioritizing you. Our mission is to provide you with the know-how to succeed in this rapidly evolving digital world.