A leading Wealth Management firm had been running paid search campaigns for nearly two years with the following spend allocation: 45% towards awareness campaigns, 45% towards intent-based search campaigns, and 10% to remarketing efforts. After we uncovered that the intent-based ads on the Search Network captured leads who were most likely to turn into customers, our client was ready for a change.
As a result of this discovery, the client requested we allocate 65% of the monthly paid search budget to focus on intent-based Search Network efforts. We were tasked with not only increasing the amount spent on the Search Network only campaigns but also maintaining/decreasing the cost per conversion to be below $125.
To increase the amount spent on the search campaigns while also maintaining a positive conversion rate, we took a look at each campaign to optimize for increased reach as well as increased potential for conversions.
By doing this we hoped to improve overall ad rank to increase the number of times our ad was seen, thus boosting the likelihood of conversion.
To improve overall ad rank and impressions we optimized the search campaigns by:
- Reviewing impression share to identify any campaigns that were losing impression share due to ad rank.
- Reviewing keyword groupings and quality scores.
- Updating keyword groupings to create smaller more relevant ad groups with matching ad copy and landing pages.
After implementing these changes during the second half of the year we saw the following results.