Paid Search Case Study: Financial Services Firm Increases New Loans & Decreases CPA

Since 2000, Seattle area agency Lodestar Marketing Group has provided digital marketing services to some of the world’s leading brands and favorite local companies. With their experience and knowledge, they have helped clients achieve impressive results. One such success story involves a leading financial services firm that approached Lodestar Marketing Group to develop a paid search and social media strategy to drive online loan applications.

The Challenge

In the competitive online loan market, the financial services company struggled to increase the number of completed loan applications at an acceptable cost.

Strategic Solutions

Lodestar Marketing Group developed a strategic paid search and social campaign to build awareness and drive loan applications. This included ensuring the company was set up with tracking and analytics to follow a prospect from application to funded loan. The campaigns included traditional search campaigns in Google Ads and Microsoft Ads, weighted to the most profitable locations and customer segments, as well as Performance Max campaigns. It also included paid social campaigns in Facebook and Instagram.

Results

The company saw incremental monthly improvements in total loans and cost per loan as the campaigns were optimized. Within the first year, the company had a 547% increase in conversions with a 54% decrease in CPA. Additionally, loans originating from the digital campaigns were the same or lower cost than the direct mail loans.

Conclusion

Lodestar Marketing Group helped this financial company reach the volume and cost per loan application they were striving for. It also opened a new market for them to acquire new customers. Lodestar Marketing Group is dedicated to finding effective solutions for all our clients to help them reach their marketing goals.

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