CLIENT:
A B2B SaaS startup in the financial industry focused on generating leads.
CHALLENGE:
Before approaching Lever Interactive, our client was already running paid search ads to drive their target audience to their website and acquire more paying customers. While our client’s pay-per-click (PPC) ads had been garnering more than 100,000 impressions per month, the campaigns weren’t delivering a reasonable ROI. They were struggling to generate clicks and conversions from their ad campaigns. Despite a large financial investment, the cost per click (CPC) and cost per acquisition (CPA) remained high. It prompted our client to find better options for improving the search engine visibility of their website.
APPROACH:
Since our client had already implemented a PPC ad campaign, Lever decided to evaluate their existing search marketing strategy first. The focus was on identifying gaps and inconsistencies in their strategy that could be leading to low click-through rates (CTR). Instead of building a new PPC advertising strategy from scratch, Lever worked on identifying ways to optimize our client’s existing campaigns. The aim was to achieve a lower CPC and CPA for existing campaigns without overshooting their budget.
TACTICS:
Analyzing our client’s current PPC ad campaigns helped Lever identify inefficiencies with their keyword strategy. They’d been delivering their ads using exact and phrase match. It was holding them back from reaching a larger pool of potential customers. Also, it was pulling their CTR and conversion rates (CVR) down. Lever decided to overhaul our client’s PPC campaign by using broad match for more keywords instead of phrase or keyword match to target a wider pool of search engine users. The idea was to broaden the search funnel and drive more traffic to the website by improving the CTR. This would essentially reduce the CPC and also increase the pool of prospects who might become conversions. Finally, the broader audience pool would also help drive better insights that can influence future marketing decisions.
RESULTS:
Lever’s PPC advertising team has continued to work with our client to enhance their search ad campaigns over the last few months. Their optimized PPC ad campaigns have garnered 39% higher impressions per month. Additionally, concerted efforts by Lever’s PPC team have helped our client achieve a 55% month-on-month rise in click volume with just 43% growth in ad spend. Likewise, before working with Lever, the number of conversions would hover slightly above 65 per month. The very next month, our client had already achieved a whopping 78% rise in the number of conversions per month. Here are some more insights from our client’s paid search campaigns:
- MoM reduction in CPC – 8%
- MoM reduction in CPA – 20%
- MoM increase in CTR – 12%
- MoM increase in CVR – 15%
Finally, the CPC for broad keyword targeting came out to be $11.59 — a massive reduction from $16.36 for phrase and exact match targeting. Utilizing broad keyword targeting has also helped Lever gain a deeper understanding of different target audience segments. Lever Interactive is a full-service digital marketing agency. We specialize in addressing all the digital marketing needs of our clients — from SEO and Paid Search to Connected TV and Native Advertising. Reach out to us at sales@leverinteractive.com to understand how our services will help your company grow.