The best PPC strategies for high performance — like knowing your user intent and targeting audiences accordingly — are evergreen practices. That, of course, is subject to change due to the constant evolution of ad schemes, policy updates, and customer behavior and needs.
The limitations are even more threatening to any given campaign’s success and general ROI for the financial services vertical. I experience this feedback from clients firsthand as the Director of Business Development for Financial Services at Phonexa.
That’s why I wanted to share with you four of the best practices in achieving a successful PPC campaign for your financial lead generation business.
4 Effective PPC Strategies to Improve Lead Generation in Financial Business
Know Your Target Audience & Strategize Accordingly
To target effectively with your PPC campaigns, as an affiliate marketer for finance, you must always think about the end-user of your goods or services. If you’re running a multi-dimensional financial business and aren’t sure how to do effective ad targeting with PPC keywords, always remember that you can use LinkedIn website demographics to refine your buyer personas for any given campaign or sales ad. You can then use these buyer personas to narrow them down to interest. Interest will then drive the keywords and other demographics you can target.
When you know your target audience for a given campaign, you can narrow the funnel of your PPC ad by geo-targeting based on the target’s demographics. Then you can leverage your bidding strategy to gear your ROI for success.
A successful keyword model for any given campaign is to include 10% of your own keywords related to your brand’s offerings, 60% generic or other related keywords, and 30% competitor keywords. This PPC keyword strategy will help you rank better without mixing up other aspects of your campaign.
Stay on Top of Compliance
PPC campaigns are often regulated, especially if they’re to advertise for businesses in the financial services industry. To stay on top of your compliance in this vertical, always stay connected with the Federal Trade Commission and the Consumer Financial Protection Bureau to ensure that you’re not engaging in non-compliance by advertising in ways you’re not allowed.
It’s critical that you closely review all of Google’s advertising policies relating to financial products and services. These policies often pertain to the following:
- Loan modifications
- Debt services
- Payday or personal loans
- Cryptocurrencies
Additionally, you cannot use personalized advertising on campaigns with:
- A negative financial status in regard to bankruptcy services
- Welfare services
- Homeless shelters
- Unemployment resources
- Predatory lending products and services
Getting familiar with what you can and cannot do when shaping your PPC strategy will help you rank higher and stay away from potential non-compliance citations.
Create Multiple Landing Pages for Campaigns
This strategy is pretty self-explanatory, but let’s dive deeper into why having multiple landing pages for a given PPC campaign can be beneficial.
Research shows that business websites with at least 10 to 15 landing pages increase conversions by 55%, but on the other hand, businesses with 40 landing pages increase conversions by 500%.
The logic behind this is that landing pages cannot cater to the motivations behind an entire target audience’s clicks — never really hitting that persuasive target either. I recommend having dozens of landing pages for each of your PPC ads for financial services. Here are some of the benefits of having more landing pages:
- Better customer segmentation according to ads they respond to
- Better SEO and better ranks on Google
- More leads and conversions
- More data to track your progress
State Your Conditions
There’s nothing worse than advertising goods or services your business doesn’t offer. This is especially so in financial markets, where every service is specific to a client, and if your company does not offer a service, a sound judgment is to not promote it, despite keyword ranking.
If your PPC ads aren’t making you any money, chances are you’re most likely advertising to the wrong crowd or are targeting keywords that aren’t relevant to your offering. A good indicator of faulty keyword setup is seeing a bounce back when people click on your ad but don’t convert.
Remember, your PPC conversion rate heavily depends on what you offer to the target audience once they’ve clicked on your ad. Essentially, it’s always the people buying your offering that make your ads profitable and nothing else.
Final Thoughts
Remember – the success of your advertisement depends on the reinforcement you get in conversions. To succeed, you should always test your PPC ads for financial services to control your spending and increase the opportunities for success.
PPC ads represent a considerable growth opportunity for your business. So getting familiar with these ad types, ensuring you have a strategy for targeting and compliance, creating multiple landing pages, and never over-promising will help you maximize your earnings and audience reach.
Schedule a consultation to learn how Phonexa can power your next PPC ad strategy for your financial services business.
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