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Striking SEM Success for a Credit Union

Striking SEM Success for a Credit Union

When you’re a marketing strategist at VGM Forbin, an important component of your job in the SEM space when working with clients is to help them own the moments that matter. Find out how we successfully did just this through continued success for a credit union.

Our team had been working with a community credit union that began in August 2019. The credit union was serving a mix of paid search through Google Ads, plus display and video. Google Ads traffic had only made up 9% of their total site traffic over that time, yet had brought 12.24% of their online application submissions. Through the process of continual optimization, we have gradually improved how efficiently that ad traffic has converted and in the most recent month of data, despite still bringing less than 10% of the total site traffic, we brought 92 online applications, 20% of the total application volume. On top of that, our ads bring a high number of calls and online form submissions – potential new customers asking questions that could also result in new financial products.

But those are just numbers. The Marketing Director of the credit union makes time each month to go through those efforts with our strategists. On several occasions, he has said that they are surpassing their goals – particularly the ones we apply focus to – and that our strategy has a lot to do with the continued success they’ve seen.

Over the time we’ve been working together, we have helped them break records in new auto loans, bring in more mortgage applications than at any point prior and have helped increase their assets to a level where they actually asked us to slow some of our efforts down.

Every time they set a goal, together we have exceeded it - which has prompted them to continually re-prioritize goals to keep a healthy balance. “It’s a good problem to have,” their marketing director has told us. Investments will start to outpace assets, then we’ll adjust, and assets will get too hot, so we’ll adjust again.

Own your moments that matter in the credit union space

While the metrics are merely a means to an end, our metrics look great. 9.99% of credit search impressions click through to the site, cost us $1.43 apiece on average and $10.86% result in an application, call or email from the site. That means for every $13.17 this most recent month, our ads have brought them an interested searcher for a personal loan or credit product. Auto loans, mortgages and general banking efforts – while not quite as efficient as $13, do bring a new lead for every $30 - $45 through the platform.

What have been the keys to success?

Continually tailor ad copy.

For every keyword, we apply a different ad, giving us the ability to tailor ad copy to the query and to choose the best landing experience for that precise search.

When we work closely together, we all get the full picture.

That helps the financial institution see the queries coming in and helps us assess the quality of different search keyword patterns. It helps Forbin see the quality of applications and contacts coming from the ads. All of that helps us adjust more appropriately and find success more quickly.

While we do react to data, we don’t overreact.

Small corrections can make a big difference, and we still let the volume and patterns in potential customers’ needs lead the strategy.

This financial institution has a great reputation and that shows remarkably online.

When our ads bring a prospective customer to consider a loan, credit card or other product from this credit union, the ratings and reviews don’t introduce friction; they help move the customer to the goal.

Learn more about VGM Forbin's successful SEM campaigns or schedule a free consultation with our SEM experts. Can your customers find you in the moments that lead them to buy?

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Written by: Joshua Schneiderman - Director of Marketing at VGM Forbin