Situation
An L.A.-based asset manager, and certified B Corp traditionally focused their prospecting efforts through channels such as SmartAsset to gather financial advisors and decision-making leads. This method was providing results, but at a high cost and a slower than desired pace. Having heard how effective targeting can be through Social Media Advertising and Google Ads, they engaged the HomeTree Digital team to explore their options.
Solution
Initial discovery calls helped to better define the client’s target audience, budget, and offering, which lead to the HomeTree Digital team’s suggestion to begin a 6-month LinkedIn Ad campaign to test the waters. Once approved, the HomeTree Digital team set out to put together a project timeline and define the measures to target the desired audience creatively. The latter being accomplished creatively by various profile attributes, geography, interests, competitor exclusion, and suggested hidden LinkedIn segmentation.
LinkedIn offers custom hidden segmented lists to target certain groups that are not publicly available.
Next, our Digital Marketing Innovators collaborated with the client to develop the campaign’s goals, objectives, and plan, which lead to setting Key Performance Indicators (KPIs) against industry benchmarks to measure the results. As Peter Drucker once famously said “What gets measured gets done.” This was followed by the creation of multiple Ad creatives and content for A/B testing and setting the monthly budget.
In total, the HomeTree Digital creative team delivered 40 unique creatives, and 9 unique copy posts, across Single Image, Video, Document, and Lead Gen Ads. Read our Guide to LinkedIn Ad Specs for more information on the various Ad types.
With the comprehensive LinkedIn sponsored strategy complete and ready to launch, the team presented the final plan to the client’s executive team. After our plan was positively received, we were off to the races to setup and launch our Ads, a mixture of brand awareness, traffic generation, and lead generation ads were setup for launch.
Results
Regular weekly updates were provided to the client. Full monthly reports, offering a detailed analysis of campaign progress and goal attainment, were consistently produced. This data-driven approach allowed the team to adjust strategies in real-time, maintaining a focus on audiences, messaging, and creative elements that yielded the most robust results.
The six-month campaign, executed with a starter-level budget, achieved impressive results, consistently outperforming benchmark statistics. The modest spend generated 209,942 total impressions and 2,972 total clicks at a Cost Per Mille (CPM) rate of $36.20. The industry benchmark cited by the LinkedIn Marketing Solutions team for the same period and industry was $67.48. The Click-Through Rate (CTR) also reached 1.42% against an industry benchmark of 0.41% — these numbers include the total range of Ads that we ran and industry benchmarks. It’s important to compare apples to apples when looking at these stats. For example, video ads typically excel in Impression Rates but suffer on Click-Through Rates.
As one of L.A.’s oldest independent investment firms, it was a pleasure to promote an organization with such prestige that has contributed so much to the industry. For more details on the campaign, steps taken by HomeTree Digital to develop the strategy, or challenges you’re currently facing, please reach out to speak with an expert today. Remember, past performance is not indicative of future results, but by leveraging industry best practices and experience you can better position yourself to succeed and reach your digital marketing goals.
Tips you should know
- Audience Precision: Define your target audience with precision. For financial services, understanding your audience’s demographics, interests, and behaviors on LinkedIn can significantly enhance ad performance.
- Dynamic Creatives: Experiment with various ad creatives and messaging. A/B testing allows you to identify the most resonant content, ensuring your ads capture attention and drive engagement.
- Data-Driven Refinement: Regularly analyze campaign data and performance metrics. Adjust your strategy based on real-time insights, focusing on elements that contribute most to your campaign’s success.
- Integrated Collaboration: Collaborate seamlessly with other marketing channels. Align your LinkedIn Ads strategy with email marketing efforts, ensuring a cohesive and effective lead nurturing process.
- Flexible Budgeting: Be prepared for fluctuations in CPC. Regularly reassess and adjust your budget to accommodate changes in the advertising landscape, maximizing your campaign’s efficiency.
About HomeTree Digital
HomeTree Digital is a full-service digital marketing agency for financial services. We incorporate design & creative elements to our work and specialize in email marketing, social media marketing, paid advertising, videography, web development, custom integrations and automations. As a Salesforce Certified Partner, we can assist with the architecture, administration, or development of your CRM. If you are facing challenges in any of these areas, please reach out to us for assistance. Personalize your subscription to receive regular updates.
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 a rapidly evolving digital world.
