28 Mar Conversions Matter More Than Clicks
220% increase in online leads in one month
We had the opportunity to mine for new customers, while lowering the cost per conversion for a financial services client. We put our proprietary AdScience® data management platform (DMP) to work.
Upon taking over the SEM campaigns of a new financial services client, we dug into its past data history. Their previous agency focused their bidding strategy on clicks, not conversions. So, our team decided to utilize a more targeted strategy, to produce the most cost effective conversions possible.
Our proposition was that if we replaced the client’s wide net strategy with a more pointed keyword bidding strategy, we could increase conversions across the board. We analyzed post conversion data and created a keyword strategy focused on searches with intent, as opposed to the previous broad- match, shotgun approach. We also expected that this narrower keyword strategy might decrease cost.
Our new keyword strategy targeted potential prospects with interest in the financial services that our client offered. Our client’s business fluctuated within the month, with heavier actionable lead volume in the first 18 days of the month. Thus, we weighted our keyword and bidding strategy to be stronger earlier in the month, to focus on lead conversions. In the latter part of the month, we concentrated on awareness and filling the funnel for next month. We kept the old agency’s campaign as a control group, for an A/B test comparison. We also made sure to monitor performance daily, to ensure that there was no disruption in new customer lead volume during the experiment.
After just 30 days, our test campaign conclusively increased leads versus the control group by 220%, while at the same time decreasing cost per conversion by over 70%, year over year. That’s the power of the AdScience® DMP at work.