The challenging nature of the savings market makes it difficult to deliver consistent performance on pay-per-click campaigns at a stable CPA (cost per acquisition). External variables such as competitor activity, interest rate changes and market sensitivities make it important to work quickly and understand both the big picture and the finer details. It was in this light that Paragon Bank tasked us with driving up applications to its savings products, whilst keeping the cost of acquiring new customers down.
Our first step was to completely restructure Paragon’s AdWords account into a more granular set-up. The finer level of detail this revealed meant we could optimise ads with an almost laser focus; we were able to react quickly to product changes and market forces, as well as make very delicate adjustments to our bidding strategies.
We then embarked on a rigorous testing plan, which included evaluating the relative effects of brand against product search terms and isolating where aggressive PPC activity was needed or where our SEO efforts could pick up the slack, thus saving advertising budget.
million pounds in annual savings revenue
% reduction in quarterly CPA
% increase in brand recall year-on-year