Client Overview:
Industry: NBFC
Brief: Our client is one of India’s leading gold loan NBFCs. It has been in business since the 1950s and has helped millions of people with their financial needs. They are a preferred financial services partner for many Indians because of their high reputation in the industry, customer-focused approach, and use of cutting-edge technology.
Over the last few years, the company has diversified into new businesses like vehicle and housing finance, microfinance, and SME lending. They are on a mission to help as many people as possible get financial help to fulfill their dreams.
The Challenge
The main concern here was the spike in the CPL from the past few months which mainly occurred due to some major changes done to the campaigns and Landing pages which was suggested by the client.Their CPL was as high as 254. Another problem we discovered was that our client’s ad account had over 50+ campaigns running with 300+ ad groups and 1500+ targeted keywords. As a result, it became difficult for us to align keywords with the ad copy for Google and 28+ campaigns and 100+ ad sets for Meta.
Solution
Meta
1) Changed the Audience Targeting from Interest-audience to Broad Audience – Since the increase in the CPL was a concern, We did not want to limit the campaigns in terms of Audience size and the category of ads that we ran worked best with the broad audience
2) Replaced the Creatives with High Frequency: We noticed that certain creatives had exceeded a frequency of 7 which was kind of high. We immediately replaced those with new creatives and ensured that the frequency didn’t exceed 4.
3) Reallocation of Budget – We had several categories of campaign running. We identified the one’s with least CPL and good conversion rates and we allocated the more budget to those Campaign groups which helped us in getting more qualified leads and lesser cost per acquisition.
4) Remarketing Campaigns : We Retargeted users who have visited the pages in our website other than the Landing pages and also excluded the users who have already submitted the leads. Reaching out to more potential pages has helped us to reach out to more potential users. This was one of the main sources where we acquired leads at a lesser rate which impacted the overall CPL.
Google
1) Reallocation of Budget: We had several categories of campaign running. We identified the one’s with least CPL and good conversion rates and we allocated the more budget to those Campaign groups which helped us in getting more qualified leads and lesser cost per acquisition.
2) Detailed Keyword Targeting: We dived deeper into the keywords for each category of Campaigns. Did a Statewise keyword research for each campaign group and identified the best state wise keywords and created separate Ad sets for each category and allocated separate UTM tracking for each ones to identify the best performing Ad sets and keywords.
3) Audience Optimisation: We identified the best performing audiences and increased the Bid for the same so that Google will get to provide more leads from more qualified Audience which helped in increasing the number of qualified leads
4) Keyword Optimization: Regular check on keywords and identifying irrelevant keywords and removing them from the campaigns and Discovering new potential keywords
5) Ad Optimization: Testing our new variations of Ads by A/B testing and identifying the best performing ads
