Mortgage Lender Sees 10x Increase
In Leads Within First 30 Days
US Mortgage Corporation tasked us with enhancing their PPC campaigns that centralized on their 203K Home Renovation Loans.
Their search campaigns were set up with a sufficient amount of relevant keywords. However, a combination of broad keyword match types, automated bidding strategies and other higher-level campaign settings caused the account to spend thousands of dollars and result in little conversions. Their strategy was also more top-of-funnel and informative based with ad copy asking questions like “How Does A 203K Loan Work?” and directing users to a landing page that was more informational and resourceful than encouraging any action to be taken.
- The mortgage industry is extremely competitive and the market is ever-changing.
- The current campaigns were broad, unorganized and unrestrained.
- Increase conversions while keeping cost per conversion stable and at a minimum.
- In addition to boosting lead volume, our focus was also to improve lead quality.
- Create successful campaigns that we could easily scale and build from and eventually expand to other states and other loan types.
We broke out the campaigns by locations (Maryland, Pennsylvania, New Jersey, Washington DC, and Virginia) and implemented single keyword ad groups in each campaign to ensure as much control and visibility as possible. The bidding strategies of Maximizing Clicks and Conversions were changed to Manual CPC to increase our control as well. Since many of these keywords are highly competitive and have an extensive search volume, we utilized exact match for those specific keywords to limit spend and focus on the most important and relevant search terms. The straight broad match keywords US Mortgage used before allowed broad and unrelated terms to trigger their ads in which people clicked on, cost them money, and ultimately did not convert.
A landing page designed to maximize conversions was created and launched as well as recurring A/B tests to the design. The form on the landing page retrieved the most important information from the leads while also remaining simple and user-friendly. We refined the lead process by only targeting certain demographics, such as age and income, to make sure we were only reaching people who were most likely looking for home improvement loans and who were more eligible to be approved for one. We furthered our refinements by asking more specific questions on the form to get more useful information from our prospects and also deter anyone who was not serious about applying for a loan.
Our new campaigns took little ramp-up time and drove conversions through the roof during the first full month of launching while also minimizing cost per conversion which is the ultimate goal of PPC. Through constant optimizations and analyzing data, we were able to apply appropriate bid adjustments on the top performing demographics, devices, and ad schedule to strengthen our results even more. Overtime, we were able to scale up their ad spend budget by 129% and also expand to other states and loan types, such as Cash Out Refinance Loans.
ABOUT THE CLIENT
US Mortgage Corporation is a nationwide mortgage lender with over 30 Branches built on trust, transparency, technology, and top-quality customer service.