Pay Per Click Advertising (PPC)

PPC is a type of online advertising whereby advertisers only pay for actual clicks on their digital ads (ad impressions are free). Advertisers have extensive control over where ads appear online, and who they target. If you’d like to speak with other financial services institutions currently leveraging pay per click ads, we can connect you.

With PPC ads you’re in complete control over the advertising budget which can be adjusted at any time. We can provide advertising budget recommendations based on the financial products you’d like to promote and your target audiences. Depending on your targeting, the cost per click will typically be somewhere between $1 and $10 (ad impressions are free).

Digital ads can help banks and credit unions achieve strategic goals:

1. Increase deposits
2. Increase loans
3. Increase wealth management accounts
4. Increase treasury management revenue

Digital ads can also support a wide range of bank marketing initiatives:

1. Increase website traffic
2. Increase foot traffic to branch offices
3. Target customers and prospects of competitors
4. Increase mobile app installs
5. Cross-sell existing customers to increase share of wallet
6. Generate visibility and engagement in new geographic markets
7. Promote new branch openings
8. Promote events
9. Promotion of specific residential or commercial lenders
10. Reduce unmeasurable marketing expenditures

Related resource: Bank Advertising Ideas, Examples & Principles

Google search engine ads (SEM) are often the lowest hanging fruit for banks and credit unions. Within your target market there will always be a certain number of people each day searching Google for products and services that your financial institution offers. Using Google Ads, your financial institution can place ads at the top of search results and only incur a click charge when someone actually clicks on your ad. 

Results depend on a number of factors:

• Products being promoted
• Targeting combinations used
• Landing page user experience

That being said, we often see banks generating a deposit application every $50, a consumer lending inquiry every $60, and a commercial lending inquiry every $75.

Four of the most effective ways for banks to target bank customers and/or prospects with digital ads:

1. What they are searching for in Google or Bing 
2. By relevant life events (new movers, getting married, recently graduated, etc)
3. By relevant demographics (job title, company size, industry, location, etc.)
4. By relevant behaviors (shopping for a home, comparing checking accounts, recently visited your website, etc.)

Unlike purchasing a block of advertising space from a specific website through an ad agency or media buying company, ad impressions from pay per click ads are free. Your bank will only incur a cost when someone clicks on your ads. Pay per click ads also offer tremendous flexibility for a number since budget, creative, geotargeting, placement, bids, landing pages, and more are easily adjusted at any time. PPC ads are also not limited to a specific site or ad network:

• PPC Social Media Ads can reach users of most any social media platform, including Facebook, Instagram, Twitter, LinkedIn, and others.
• PPC Search Ads can reach people using search engines like Google, Bing, or Yahoo.
• PPC Display Ads can reach over 90% of internet users worldwide as they browse websites and mobile apps. 

Absolutely! That being said, without continuous oversight it is quite easy to waste money on irrelevant targeting. If you’re currently running your own ads or even if you have a dedicated advertising agency, we’re always happy to audit existing campaigns. 

Your bank’s website (aka your 24/7 branch) should absolutely be your marketing hub, but an optimized website isn’t necessary to run digital ads. Instead, we can build standalone landing pages designed for target prospects. If you’re unhappy with the performance of your bank’s website, we can help with search engine optimization, content marketing, marketing automation, directory listings, and website design.

Our bank marketing nerds are always happy to speak with other financial marketers. Contact us with your questions or to get started with digital ads for your FI.