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BRIEF

Author

OMI Firm

Type

Paid Advertising

Year

2019

E-commerce Seller Financing Paid Advertising Case Study

ABSTRACT

E-commerce Seller Financing is a lending company that provides loans for e-commerce and marketplaces sellers. Our client aimed to achieve more visibility on Google and get in front of sellers that are looking for solutions to gain additional funding for their businesses.

Google Search Ads is a platform that allows advertisers to display ads on the highest positions of Google Search Engine. The platform is auction-based, and the advertisers bid for the keywords that they want to trigger their ads.

 

GOAL

The goal of the campaign was to collect a higher number of loan applications from online sellers while reducing the cost of the campaign.

 

CHALLENGES

  • A competitive niche – many of the competitors use the same advertising channel
  • High bids for the targeted keywords due to the competition
  • Limited budget

 

STRATEGY

Using data from previous campaigns to improve the performance as well as get as many conversions as possible within the budget.

 

KEY TACTICS

  • Using semi-automated bidding strategy
  • Selecting only highly relevant keywords
  • Grouping keywords and organizing them into different ad groups
  • Testing multiple ads and terminating low-performing ones
  • Daily monitoring the search terms that triggered the ads and adding any irrelevant words as negative keywords
  • Considering different factors like past conversions, CTR, average position when determining bids
  • Developing landing pages that would lead potential customers to the application form

 

RESULTS

  • Conversion cost decreased by 56%. The first issue we were aiming to solve was the extremely high conversion cost of the campaign. Using different optimization tactics, we managed to decrease the conversion cost by 56%.
  • Average CPC decreased by 47%. Another goal was optimizing the cost-per-click (CPC). As a result, the CPC decreased by 47% in a one-month period.
  • Total campaign cost decreased by 52%. Our efforts helped the client to get more conversions with a 52% lower budget.

  • The number of primary conversions increased by 7%. The primary conversions tracked for this campaign were the applications filled out and submitted.
  • The number of secondary conversions increased by 62%. These were the applications started but not filled out completely. Even though they were not completed, they provide valuable information that can help optimize future campaigns.

 

WHAT ARE THE BENEFITS OF USING GOOGLE SEARCH ADS AND WHO SHOULD MANAGE THEM?

While businesses may want to shy away from investing money into paid advertising, growing any business always comes at an expense, be it hard work, time, investment, or a hard learning curve.

Relying solely on organic traffic can be time-consuming and require even more financial investment in the long term. In the meantime, Google Search Ads can offer immediate and highly targeted traffic that generates sales.

The problem, however, is in executing a Google Ads campaign effectively. Some businesses may test the waters by executing campaigns themselves. Others may rely on the automated bid strategy to maximize conversions.

Our client relied on both. While their efforts did yield traffic and conversions, the number of their conversions was low. Moreover, the cost per conversion and the overall cost of the campaign was higher than necessary.

It is important to assess the past results and tailor a personalized ad strategy that best suits the needs of every specific business and delivers the most optimal results.

Additionally, setting up a campaign and simply letting it run isn’t optimal. It is essential to continuously optimize the campaign and its settings to ensure that ads only display for relevant keywords and budget isn’t being wasted on irrelevant traffic and clicks that do not yield profit.

Relying on the services of a skilled and experienced paid advertising professional or marketing agency is not a must. However, it will save you time and resources as well as attract qualified leads right away so that you can focus your time and effort on what you’re best at.

 

ATTRACT YOUR TARGET AUDIENCE