We’ve worked with a number of credit unions across various locations wanting to attract new personal and business banking clients, as well as promote their membership options and low-rate loans.
Multipe credit unions
There is a movement towards buying and keeping dollars local, especially after the 2008 market crash that left people skeptical of for-profit institutions. Credit unions with offices in Las Vegas, Reno, Scottsdale, and Phoenix knew their customers were out there, but ultimately needed help building brand awareness so users could easily find them online.
Credit Union #1: Enticing new members was proving difficult, especially up against large, established financial institutions in the area.
Credit Union #2: The website was out of date to say the least, with little content (poor for SEO and client trust) and a static design that took up the width and height of a monitor. If a bank wasn’t willing to invest in themselves, why should someone invest them? Additionally, another vendor was handling their Google Ads campaigns, spreading a relatively small budget across many locations, few ad groups, and receiving little results.
Credit Union #1: We relied on Google Ads to bid on keywords for both banks and credit unions alike, as well as company branding, low rate credit cards, and various types of loans. Regardless of what people were searching for, we introduced them to a not-for-profit institution where they can become part of the family.
Credit Union #2: We used what was working within the existing campaigns, reviewed keywords other competitors were bidding on and ranking for, and fleshed out more keyword targeting across many more ad groups for better ad copy targeting and organization. We divided targeting into general and business banking for better understanding of data.
Credit Union #1: Across two campaigns (one focused on general banking and credit union queries, the second on loans), we’ve been able to capture a more than 9% CTR, less than $1 average CPC, and less than $10 cost per conversion (from calls from ads to loan and credit card applications) for all-time.
Credit Union #2: Reviewing our campaigns year over year with the previous vendor, we found our impressions decreased 60% and keywords by 44% thanks to better keyword bids and the addition of negative keywords; this resulted in a nearly 35% increase in CTR indicating we targeted a better set of keywords and delivered more enticing ad copy.
Conversions decreased 11% overall, but the credit union noted calls were much higher quality over quantity, saving them time in the long-run (cost per conversion decreased nearly 40% while the conversion rate increased 60%). Finally, after many months of pushing for a new website, the launch resulted in the highest conversion rates and lowest cost per conversions, as well as lower bounce rate.