How a digital-first financial services brand maximized lead generation with Google PMAX
How to make the most of Google's most automated campaign type
THE CHALLENGE
A digital-first financial services provider was looking to scale performance and increase lead generation. However, they were facing diminishing search returns.
In order to scale effectively, they needed to:
- Expand their media mix without compromising lead quality.
- Overcome concerns around placement transparency and lead intent.
- Address scalability challenges while maintaining cost-efficiency.
THE STRATEGY
To meet these challenges, Level Agency implemented Google’s PMAX (Performance Max) campaigns with a clear strategy:
- Leveraging high-intent signals: Conversion points like application form submissions were prioritized to ensure quality leads. This signal was a strong indicator of user intent, paving the way for better search optimization.
- Robust budget allocation: A robust testing budget was employed to comfortably explore PMAX’s potential without risking overall campaign performance.
- Balancing scale with cost control: Regular monitoring ensured campaigns maintained cost-efficiency while increasing reach.
- Data-driven adjustments: Continuous insights were applied to optimize performance further.
THE WORK & RESULTS
The campaign creative and optimization revolved around the client’s HELOC (Home Equity Line of Credit) offerings:
- Application form conversions were highlighted to reflect customer readiness.
- Custom bidding strategies and audience targeting were tailored to amplify the most promising opportunities.
The PMAX campaigns delivered exceptional results:
- 25% Increase in Conversion Volume and Spend for the HELOC product.
- 40% Lower Cost Per Conversion compared to traditional search campaigns.
- Maintained lead quality on par with existing channels, dispelling concerns about scalability risks.
