Client: Be Wiser Insurance
Be Wiser: The Revenue 55 Challenge
Increased AdWords Revenue By Over 55%
Seeking a competitive edge in a crowded car insurance market, Be Wiser Insurance has grown rapidly since its formation in 2007, with Google AdWords as a driving force behind this growth. In late February 2016 Be Wiser set itself the target of increasing monthly revenue by 33% within 6 months, starting March 1 2016 and using the February data as a baseline. In order to assist with this, SilverDisc was set the challenge of increasing the revenues derived from AdWords by 55% over the same period, without increasing the cost per new business case (CPNB, the primary target of all Be Wiser campaigns). Monthly revenues were in the millions, with AdWords already making a significant contribution, so a 55% revenue increase without increasing CPNB represented a major challenge. This campaign was called “The Revenue 55 Challenge”.
The introduction of new ad formats, account-wide adoption of ad extensions and the implementation of specific demographic and location based bid adjustments led to an 88% increase in CTR and 10% increase in click-conversion rate. These improvements saw both Be Wiser as a whole and SilverDisc with AdWords meet their respective revenue targets well in advance of the September 2016 deadline.
The Challenge
Increase monthly revenues derived from AdWords by 55% within 6 months without increasing CPA targets
Our Approach
- Created highly focused, intention-led ad creative through continual testing
- Maximised the use of new ad formats and ad extensions to improve ad engagement
- Implemented technical improvements to take advantage of recent AdWords features
- Worked with Be Wiser to optimise targeting, using a data-driven approach
The Results
- Met challenging revenue targets 2 months ahead of schedule, then went on to exceed them
- Grew search campaign CTR by 88%
- Increased search conversion rates by 10%
Growing Search CTR by 88%
Given the competitive nature of the car insurance industry and the fact that people are often ready to purchase a policy at the time of searching, reaching potential customers with the right message at the right moment is essential.
Serving effective ad text was a vital aspect of “The Revenue 55 Challenge” campaign strategy. Having keyword optimised ad text and testing various calls to action was important for generating quality clicks and converting new customers within strict CPNB targets. We implemented a “Champion Vs Challenger” A-B testing programme to assess the relevancy and enticement of ad text, in order to ensure ad performance was optimised for each of our demographics and intent cases.
Improving YoY Conversion Rate
The use of search term reports, supplemented with the keyword planner, allowed us to discover longer tail keywords which provide insurance quotes at low cost per conversion rates and identify niche areas of the market in which we could generate quotes from a previously untapped audience.
Maintaining a close feedback loop with Be Wiser meant they could regularly provide us with information on key demographics and location data based on policy sales. Using this data, along with the location planner and demographic targeting options, we were able to modify bids to maximise the exposure of ads to those who are most likely to convert.
