CASE STUDY:
Google Ads
Members Credit Union
The Challenge
Members Credit Union is a member-owned, not-for-profit financial cooperative based in North Carolina, with a headquarters located in Winston-Salem. The team at Members Credit Union offers a full portfolio of products within the financial services and charges fewer and lower fees than banks do. Clients of Members Credit Union can save money with this portfolio of offerings and benefit from top tier customer service along the way.
While Members Credit Union offers services and interest rates that are lower than larger banks or other financial institutions, most often consumers aren’t aware of this option, even though it saves them money. Members Credit Union partnered with X3 to help grow their online presence and gain traction with relevant leads who could use their services and savings. Specifically, Members Credit Union wanted to attract leads looking for Auto Loans, as their portfolio allows them to offer great interest rates and provide exceptional service on these loans.
The Strategy
Members Credit Union wanted to grow their digital marketing for auto loans, as they were not running any ads at the time and knew that Google Ads was an excellent resource for this. In order to get Members Credit Union in front of relevant leads, X3 devised a Google Ads strategy which included the following:
- Advertising the Right Services - Knowing that consumers looking for auto loans are interested in the best rates, our marketing copy was centered around Member’s Credit Union’s lower rates (compared to other financial institutions)
- Targeting the Right Audiences - X3 used a targeted keyword and demographic strategy to ensure the right message was being received by the right audience
- Gathering Enough Data - For 6 months, X3 collected data on lead conversions and continually optimized copy, targeting, and other tools to gain traction with relevant lead volume
- Utilizing Google’s Strategies - Through a variety of strategies including Manual CPC, CPC Enhanced, Max Conversions, and Target CPA, X3 boosted lead volume while simultaneously reducing the cost per lead
Proven Results
Through the above detailed strategy, X3 delivered strong results for the team at Members Credit Union. Most notably:
- Goal Growth - Receiving at least 20 new car loans per month
- Conversion Growth - 529 conversions YTD
- Impression Growth - Impressions climbing every month, September 2022, 6,140 impressions
- Cost per Lead Decrease - in a competitive industry, it now only costs $44 per qualified lead
Let's Work Together!
At X3 Marketing Group we love to celebrate the success of our clients. When they win, we win. Give us a call or message today and we’d be happy to give your business a free digital marketing assessment to see how we can help!