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PPC Advertising for Banks: Tips and Tricks

October 11, 2023
10 mins

PPC for financial services are more relevant than ever. A whopping 74% of brands confirm that PPC serves as a driving force for their business. It's not just about the numbers; using a pay-per-click campaign brings in high-quality leads for financial institutions and boosts the return on investment for your marketing efforts. In fact, businesses have been known to double their investment, reaping $2 for every $1 spent on PPC advertising.

PPC, or Pay-Per-Click, is a digital advertising method where businesses pay a small fee each time someone clicks on their online ads. These ads appear on search engines or websites and are designed to connect people with products or services they're interested in. It's an effective way for businesses to reach potential customers when they're actively searching for something, helping both consumers and businesses find what they're looking for.
There are various types of PPC ads, including search ads that show up when you search for something on Google, display ads that appear on websites, and social media ads on platforms like Facebook and Instagram. Each type targets different audiences and goals, allowing businesses to choose the right one for their specific needs.

The effectiveness of a good pay-per-click advertising strategy is a well-established digital approach for various businesses. And for the financial market, it's no longer something that can be overlooked. If you're seeking a quick and efficient way to promote your bank and its services, financial services adverts offer a significant growth opportunity.

In this blog article, we'll go through a few tips on how you can boost your conversions and improve ROI with qualified traffic through advertising for banks.

The Key Benefits of PPC for Banks

benefits of PPC for banks

A targeted level of reach 

Like many other businesses, banks need to pinpoint specific demographics and interests when marketing their financial products. Using a PPC campaign, such as online banking ads, can be an effective way to reach customers interested in banking  services. It's like putting up virtual banking billboards for those seeking financial solutions.

Measurable analytics and flexibility 

Imagine a marketing campaign (for example a PPC loan campaign) that can deliver real-time data such as tracking impressions, conversions, and clicks. You can optimize your campaigns in real-time depending on the success and cost of keywords for each campaign.

You can adjust PPC ads quickly and shape your advertising copy and landing pages to improve performance results or focus on new goals. 

Building up brand visibility

Using best PPC practices will also help you raise brand awareness. Running continuous PPC campaigns is a great way to make more people see your bank's name when they search online. When your PPC campaign appears prominently in numerous searches and web pages, it does not only establish your authority within the finance industry, but also turns your bank into a well-recognized name. Search ads can amp up brand recognition by as much as 80%.

Generating high-quality leads 

PPC campaigns are among the best ways to create high-quality leads by finding users who are actively searching for products similar to yours.

Ongoing sales support 

PPC drives traffic directly to promotions and offers, helping you meet more sales targets and boost your objectives for selling targeted products. 

Click on the banner to discover how we successfully assisted a neobank in making a remarkable entrance into the market through PPC advertising:

bank PPC case study

To get the most out of PPC for banks, pay attention to how many engaged users take targeted actions on your site (like signing up or making a purchase), and keep an eye on how your PPC ads are performing. It's like planting seeds for a garden – PPC gives you quick, short-term results.

If you're thinking about long-term success, you might want to aling your PPC strategy with Search Engine Optimization. Think of SEO as the sunshine and rain that help your garden grow in the long run. So, by adjusting your ads based on the performance and following a complex strategy, you’ll enjoy quick wins and set the stage for a lasting success.

Would you like to learn how to use SEO to get a steady passive source of traffic? Read more in our comprehensive article

How Can Banks Improve the Quality of Their PPC Campaigns?

How Can Banks Improve the Quality of Their PPC Campaigns?

If you've just started in PPC, there are cost-effective ways to monitor and adjust for a successful PPC campaign. By using some of these expert strategies, you can enhance your quality scores and get more out of your PPC budget:

🗸 Having a plan.
Have a goal in mind for a PPC campaign and align the sales copy of your landing page or an ad copy targeted towards a specific purpose. Using headlines and calls-to-action (CTAs) in advertising will signal that your customers are following through. 

🗸 Creating strong landing pages.
Landing pages should match your ad strategy and provide customers with the useful data instantly. Craft a few well-designed landing pages on your site to generate qualified leads. Create a custom page and send your customers to the targeted order or sign-up pages. 

🗸 Testing and strategy.
To improve your click-through rates (CTRs), test out various types of ad copy,  keywords, and landing pages to impact quality scores and get better-targeted leads throughout your marketing funnel and within ad budget. Regular testing is necessary while the market conditions are changing over time, and the demand for your services varies based on the strategies implemented by your closest rivals. 

🗸 Focusing on low CPC (cost-per-click) bids.
Lowering CPCs will help you maintain marketing budget and get high conversion rates among the demographics yet unembraced by your competitors. 

🗸 Working on technical optimization for your pages.
Work at page loading time to develop a seamless user experience (UX) and on-site navigation to better achieve your strategic PPC goals. You’ll attain higher quality scores with your PPC campaigns by optimizing your landing page navigation.

Proven Optimization Tips for PPC Performance for Banks

Proven Optimization Tips for PPC Performance for Banks

Optimization of PPC campaigns is not the same for individual financial products like credit cards, loans, or insurance. There are suggested approaches  to generate tremendous success. 

  1. Focused themes: create unique campaigns focused on segmented products and services as a line of your business can be crucial. Looking up some bank advertisement examples, you’ll see that most banks create different ads for each service. Advertising a bank as a whole is not effective in PPC advertising. Focusing on products like a new credit card or a new type of loan, opt for tightly-themed ad groups that resonate with the particular needs shared by a specific audience and gain higher conversions. 
  2. Create stories that resonate with consumers: focus on ads that look into your consumer's intent and create compelling ad copies that resonate with user needs in a specific financial situation. Once you make more customer-related ad copies and offers, people will like your ads are  talking to them.
  3. Test conversion calls to action: conversion calls to action (CTAs) in financial product advertising are especially important to encourage more application conversions and direct phone calls. It's essential to experiment with different words in your calls to action and keep testing until you discover the phrasing that gets the best results in terms of conversions. This process is vital for your research and analytics.
  4. Perform a thorough keyword analysis: on average, 33% of users click on paid search ads once they directly address their search queries. Prior to crafting  an ad copy or prioritizing the products you want to advertise, look at the search terms people use while finding your page or perform a keyword research of your competitors. Consider the top-performing keywords in PPC ads and adjust underperforming campaigns. Working with a professional will help you evaluate search terms and correlate  your ad budget. 

The Bottom Line on PPC For Banks and Financial Brands

In a nutshell, PPC advertising for banks is like planting seeds in a garden. It helps nurture high-quality leads and grows your bank's recognition. Combined with the right elements like SEO, you will lay a fertile path for quick harvest.

Written by
Anastasia Marchyshak

Content Marketing Manager at Promodo

Immersing myself fully in any topic I explore and my appreciation for simplicity are the driving forces behind my work.

October 11, 2023
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