Revealed: Success with Google Ads for Fintech

Updated: Feb 1

The financial industry is known as one of the most expensive industries when it comes to Google Ads.


More and more competition is driving the cost-per-click up drastically.

For fintech companies (especially startups), Google Ads seems risky because there's no data on which keywords will perform and which will waste money.

I'm happy to report that profitable fintech ad campaigns on Google & Bing, while difficult, are not impossible.

Here are some ideas to help you out:

#1: Figure out how much you can pay for a click


When competitors are bidding $30+ for a click, there is no point in bidding $10. Your ads just won't show up.

What's the maximum you can pay per click to get a positive ROI? You will need to figure that out.

First, you'll need to:

Understand the average lifetime value of a client.Decide how much you're willing to spend to get a new client.See how many leads you need to get a new client.Have a good idea of the conversion rate of your website and landing pages.Based on these metrics, you can calculate the maximum that you can pay per click on Google.

For example, if a new client is worth approximately $3k, you can invest 1/3 of that to get the client. If you need 5 leads to close 1 client, you can pay $200 for 1 lead. If your CVR is 10% (it should be higher…) you can bid up to $20 for a click.

Seems fairly easy right? Easy, yes. Time consuming, yes.

Based on these metrics, you can calculate the maximum that you can pay per click on Google.


#2: Advertise for extremely relevant keywords ONLY


Generic keywords = impressions and clicks. But, the conversion rate is usually lackluster… Add in the extreme competition factor and this will sink your ship quickly.

The answer? Long tail keywords.

Long tail keywords are hyper-focused searches that target searchers at different stages of their buyer's journey: awareness, consideration, and decision.

These keywords get less searches in Google, but the traffic is much more targeted and, if used properly, can yield huge profits with low costs.

This is because the conversion rate on these searches, especially with targeted landing pages, is sky high. That means more traffic converts to leads. This means profitable ads campaigns that can be tracked and optimized to get you the best CPA (cost per acquisition).

Focus on keywords with 3+ words in them that are highly relevant to the solution you're offering. Try and stay away from the broad match keyword type in general. Instead, use exact, phrase or broad match modifier for all the keywords that you add.

Oh… and USE NEGATIVE KEYWORDS. Negative keywords will filter out irrelevant searches and save you money. Make sure you add as many negative keywords as you can.

Long tail keywords are hyper-focused searches that target searchers at different stages of their buyer's journey: awareness, consideration, and decision.


#3: Build PPC-only landing pages


Make sure your landing page minimizes distractions and helps the visitor find what they searched for. OK, let's review.

You're looking for highly relevant, high buyer intent keywords and you're filtering out any irrelevant money-wasters.You've figured out how much you can pay to acquire a new client and, thusly, per click.Now, what happens after someone clicks?

Do they head to your main website?

No.

Why?

As you will be paying a good amount per click, you want to make sure your conversion rate is as high as possible.

How do you increase your conversion rates?

BE RELEVANT.

Relevance is the #1 most important factor when investing in ads or marketing in general.

This means you want to build a landing page that is focussed on one goal: help your target audience with their query.

If they're looking for info, educate them. If they're looking for a solution, present your solution.

Here is a quick framework for building a high converting landing page:

  • Headline

  • Opening

  • Credentials

  • Offer

  • Bullets

  • Testimonials, Third Party Verification

  • Value Justification

  • The Problem

  • Solution

  • Scale

  • Risk Reversal, Guarantee or Promise

  • Call To Action

  • Urgency (Why do I want to buy now?)

If you execute that properly, your CPA will be lower, your conversion rate higher, and your marketing system efficient.

The most important thing is making sure that the ad that they clicked, takes them to the content they were looking for.


#4: Use Display Ads & Remarketing


You can have the perfect message, perfect design, perfect offer, and still — it just won't be the right time for some visitors.

And that's totally fine!

They should take their time and make sure that your solution is right for them, then engage.

This is where Remarketing comes in.

Many people ignore Display Ads as a viable source of leads, but in my experience I've seen Display Ads make up for as much as 30% of the revenue coming in from Google Ads.

When they leave, you'll serve them a piece of code that will allow you to follow them around with your ads.

This increases trust and brand awareness and many times can lead to a substantial long-term ROI from your ads.

Tip #5: Track everything and optimize, optimize, optimize


The best thing about online advertising is that you can TRACK. ABSOLUTELY. EVERYTHING.

You can see on a campaign or even keyword level which keywords are getting you impressions, clicks, leads, and how much you spend on each of them.

At that point, you just have to measure and optimize based on the data.

This can be harder than it sounds, but tools like Google Analytics and Hotjar can help a ton.

Those apps will let you track people through your sales funnel (example: landing page > request a demo > schedule a call > confirmed) and let you track every step.

Then, with the Google Ads data, you'll get a complete picture of what is performing the best.

You can pause underperforming keywords. Add new keywords based on the search query report. Test your ad copy and landing page designs. Tweak your keyword bids. And much more.


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