How Performance Marketing Helped a Financial Institution Acquire More Auto Loan Applications

A client recently came to our banking and financial marketing team at MHP/Team SI with the goal of increasing their online auto loan applications. 

Our team developed a digital marketing mix to drive leads with measurable ROI and establish performance marketing benchmarks.

Results were staggering. Our client saw a 43% conversion rate–a 922% boost in conversion rates compared to the client’s previous strategies and 165% above the industry average.

Our Performance Marketing Strategy

MHP/Team SI’s finance and banking team created a multi-channel digital strategy that worked at all levels of the marketing funnel. Using Doppio®’s 381 FLA-compliant data layers, we were able to segment our target audience based on people we knew were actively looking to purchase a vehicle.

Our financial services marketing team produced four avenues through which we could reach this target audience.

Paid Search AdsWe leveraged the power of Google’s paid search ads to target individuals specifically searching for auto loan applications, reducing wasteful spending.

Meta MarketingTargeting ads through Facebook and Instagram reached audiences as they were spending time scrolling through social media and allowed them the opportunity to take immediate action.

Doppio® DisplayAfter we honed in on our target audience, we were able to retarget them on a household level with Doppio® data layers. Audience members might see display ads on any device including phones, tablets, computers, and more.

▹ Doppio® Connected TV Retargeting Using Doppio®, we reconnected with customers who had demonstrated interest in the product on our website with target ads on steaming and connected TV platforms.

What were the results?

Our performance marketing campaign results were remarkable for conversions as well as brand awareness. 

  • 5,960+ unique pageviews 
  • <$81 cost-per lead
  • <$190 cost-per-conversion
  • 310 leads 
  • 132 completed applications

Our campaign yielded a 43% conversion rate – an astounding 165% above Wordstream’s industry benchmarks. This equated to a 922% boost in conversions for our client over previous campaigns. 38% of all online conversions came directly from MHP/Team SI campaigns.

Are you ready to see similar results on your financial marketing campaign? Get in touch with us. We’ll be happy to discuss a solution that works for you and your business.

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