Optimize existing checking campaign to increase number of checking applications Dean Bank receives from advertising efforts.
Services used on this project
As Dean Bank was looking to increase deposits, primarily checking accounts, Pannos reviewed the existing checking campaign to find ways to optimize efforts without increasing ad spend. Though the campaigns in place were performing well, ensuring they remain effective and optimized is critical to improve performance, especially when it comes to demonstrating ROI.
Let the numbers tell the story
increase in ad spend
increase in landing page activity
Looking at the campaign holistically, we first focused on optimizing the landing page for conversions. After an in-depth analysis of historical performance metrics and heat mapping, we determined key changes that would increase the likelihood of consumers completing our desired action – which was clicking on "Open Now".
Next, we focused on ad types, noticing that a blend of responsive and expanded text ads work best to increase click-through-rate and reach our key audience. Then, we ensured the display campaign was using the top performing ad sizes.
Finally, we added in conversion tracking and bid strategy optimization. By adding conversions using Google Tag Manager, we were able to effectively leverage Google Ads Artificial Intelligence (AI) to find consumers within Dean Bank’s target market who would be most likely to click on our conversion action. For this campaign, the conversion action was the "Open Now" button on the landing page which led consumers directly into the online application platform.
More than half of the conversions were generated by the search campaign.
Prior to these changes, Dean Bank saw an average of 20 "Open Now" clicks per month from their digital campaigns. Since performing our optimizations, they have quadrupled that monthly number. More than half of these conversions were from the search campaign alone. The chart also demonstrates the need to run campaigns for longer than one month as with more time, Google’s AI only gets more efficient.
It is important to note that ad budget for this campaign decreased slightly from March to May, so budget is not the ultimate deciding factor in success.
In summary, the results of these efforts exceeded expectations. By making minor adjustments to existing efforts, we were able to drastically increase the monthly applications, while reducing budget, and help further demonstrate ROI and the importance of digital.