SBA Loans Case Study

a small business owner receives a loan from a bank, credit union, or financial institution. this bank acquired the customer through a performance marketing campaign from mhp/team si

Solving Problems for Financial Institutions

The banking and finance marketing team at MHP/Team SI recently teamed with a credit union who sought to increase their number of small business administration (SBA) loan applications. Our team of experts developed a multi-channel digital marketing strategy to achieve their goals, establish a performance marketing benchmark and produce a return on investment. 

Results were great. The client saw a 76% boost on previous campaigns and a cost-per-lead which was 43% lower than industry benchmarks according to Wordstream.

Developing a Digital Performance Marketing Strategy

For the campaign, our team developed a multi-channel performance marketing strategy that allowed the company to target small business owners who have demonstrated interested or could be ripe to demonstrate interest in SBA loans.

We utilized four channels to reach this target audience.

▹ Paid Search Ads – Our team utilized Google Paid Search options to reach individuals specifically seeking SBA loans. This placed us at the top of their search engine results page and provided them with immediate access to taking our client’s desired actions.

▹ Meta Marketing – We placed targeted ads on Facebook and Instagram to maximize exposure as prospects spend time online.

▹ LinkedIn – LinkedIn allowed us to employ business-to-business marketing strategies and easily target small business owner.

▹ Doppio® Display Retargeting – We used Doppio®, our proprietary targeting platform to retarget individuals who had visited the site before. Potential customers were shown display ads while they browsed the internet.

Producing Great Results

Our marketing mix produced outstanding results. We saw: 

  • 5,615+ unique pageviews 
  • 413 conversions 
  • 7% conversion rate
  • <$41 cost-per-lead

Our client saw a 7% conversion rate, which is double the industry benchmark*. This gave our client a 76% boost compared to their previous strategies. Cost-per-lead was brought down to less than $41, which was 43% lower than industry benchmarks*. Furthermore, a whopping 95% of online conversions came directly from MHP/Team SI campaigns.

*Industry benchmark information from Wordstream.

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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