Unlocking Business Banking Growth
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For years, evok advertising has been working with clients to optimize their digital advertising campaigns. In this case, we partnered with Florida Credit Union to enhance their Google Ads performance through a strategic approach to budget allocation and data utilization.
The challenge was to significantly improve campaign efficacy while maintaining stringent performance metrics. Our strategy focused on leveraging Google’s sophisticated machine-learning algorithms by providing a larger, more diverse dataset for optimization.
Our primary objectives were to:
• Incrementally increase the campaign budget by 200% over a 30-day period
• Fine-tune bidding strategies to capitalize on the expanded data set
• Enhance conversion tracking to provide accurate signals to Google’s AI
• Implement advanced segmentation techniques for improved targeting
Before implementing our budget expansion strategy, we conducted an initial analysis of the PPC campaigns to establish a baseline and identify areas where increased spend could yield valuable insights. We found that existing budget constraints were limiting the amount of consumer journey data we could collect, resulting in:
• Limited impression share across high-intent keywords
• Gaps in understanding of upper-funnel touchpoints
• Insufficient data on cross-device user behavior
By increasing the budget, we anticipated:
• A more comprehensive view of the consumer journey from initial awareness to conversion
• A better understanding of the interplay between different campaign elements
• Improved ability to optimize based on a larger, more representative dataset
To address the challenge and achieve our objectives, we implemented a controlled budget expansion methodology focused on gradually increasing spend while carefully monitoring performance and data collection.
Our approach included:
Incremental Budget Allocation:
• Designed a four-week plan to increase the budget incrementally
• Raised the budget by approximately 50% of the original amount each week
• By the end of the fourth week, the budget had effectively tripled
Performance Monitoring:
• Maintained vigilant oversight of key performance indicators throughout the budget expansion period
• Focused on impression share across key campaigns to gauge visibility in the market
• Tracked the volume and quality of data being collected on user behavior
• Monitored efficiency metrics such as cost per acquisition (CPA) closely
Data Collection Focus:
• Expanded reach across various touchpoints in the user journey
• Gathered more diverse user interaction and behavior data
• Increased sample size for more reliable insights into user behavior
• Maintained a careful balance between expanding data collection capabilities and maintaining campaign performance Throughout this process, we combined our deep expertise in Google Ads with a data-driven methodology to ensure the success of the campaign.
(Cost Per Acquisition) Reduced from an average of $19 to $6
Improvement Return on Ad Spend (ROAS): from 25:1 to 72:1
Increase in Conversion Volume month-over-month
Monthly revenue increase (from $600,000 to $1,300,000)
Decrease in monthly ad spend (from $24,000 to $18,000)
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