b2b marketing insights

PSC Insurance: B2B Google Ads

Transformed paid search ads results, cutting ad spend by 95% and increasing profits by 229%

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PSC Direct is an online insurance intermediary offering businesses knowledge, expertise, support, detailed quotes and industry influence.

Since its inception in 2015, AdWords, specifically search engine marketing, has been key to its strategy for attracting new business. The challenge was that the Insurance industry is extremely competitive across paid search advertising. Due to the high lifetime value of a client, keywords relating to insurance are bid on aggressively, with one click costing up to a staggering $54.91.

Seeking to minimise paid media waste, they sought The Lead Agency to tighten their ad spend and amplify their results.

84.8%

decrease in
wasted clicks

128%

increase in
conversions

229%

increase in
profits

Clients up costs down

As the business was in its early stages, the objectives were to attract new clients while keeping advertising costs down.

To achieve this, we had to take over management of their Google Ads account, thoroughly investigate its present state and work closely with PSC to gain an in-depth understanding of which leads were of most value to their business.

With that, we could iterate.

Executing targeted ad strategies

Turning PSC’s ad performance around took an all-hands-on-deck approach where no stone was left unturned where efforts and ad spend could have been wasted. 

We explored:
  • Times: Being a B2B brand, we refined the times of the ads so that they only showed during business hours, which helped to increase the quality of enquiries.
  • Days: We noticed that while the website got a lot of visits on a Friday, visitors were not converting. We allocated less budget to the Friday, which meant we could spend more on days that were more likely to convert. This increased the conversion rate.
  • Device Bidding: We noticed that many enquiries were coming from mobile devices, so we adjusted the bid to make us more prominent in these search results.
  • Live chat—On/Off: We added a live chat function to the landing page in an attempt to increase enquiries. However, in consultation with the client, we found that this was taking up more of their time and generating fewer quality enquiries. We tested switching it off and found that this made more people click on the form or call to enquire.

We also took into consideration the complex buyer journey in the B2B space. Customers closer to the final purchase decision were more valuable, so we worked to attract them.

We targeted customers specifically by:
  • Using Transactional Keywords: We used keywords with intent such as ‘buy business insurance’, excluding more general terms such as ‘what business insurance do I need?’ 
  • Ad Extensions: We used the most relevant Ad Extensions, using calls, locations, sitelinks, and callouts to ensure our ads gave searchers more information about the brand and services so that more qualified leads clicked through.
  • Use of Single Keyword AdGroups: We created specific landing pages for each keyword, providing relevant and detailed information related to the searcher’s query. 
The features and tools that we used included: 
  • Dynamic Ads: We trialled dynamic ads on certain landing pages and found the cost per conversion to be significantly lower than it was for manual ads.
  • Competitor analysis: We utilised SEO Tools to analyse competitor ad spend and keyword performance, allowing us to refine our targeting and improve our ad quality scores.
  • Keyword planning: We streamlined our keyword management process, enabling faster adjustments and better alignment with current search trends and identify niche opportunities for ad groups that had less competition, and cheaper bids.

Decreasing marketing budgets but growing profits

Working on this campaign for 12 months, we saw considerable growth quarter on quarter as we tweaked the campaign to suit the business objectives.

In constantly refining the campaign, we were able to spend the budget more effectively, reducing irrelevant clicks and, as such, attracting the most relevant audience for their services: 

  • 84.8% decrease in clicks over the year  
  • 128% increase in conversion rate from 7% in Quarter 1 to 16% in Quarter4
  • 95% decrease in overall ad spend from Quarter 1 to Quarter 4
  • Despite the lower ad spend, we still gained more clients in Quarter4 than in any other quarter
  • This resulted in a 229% increase in overall profits over this time.

Improve your outcomes with effective ad spend

The strong results for PSC are a credit to the comprehensive, exhaustive approach we take to optimise our paid search marketing efforts. More money, more leads is not a motto we adhere to.

Most businesses have wasted ad spend. Let the team at The Lead Agency ensure your budgets are tightened and there is no room for waste in your advertising activities.

Contact us today for a free consultation.

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