QuoteSearcher is a real-time lead-generation provider for over 30 niche insurance products from convicted driver to static caravans. Due to their expansive and diverse product offerings, their paid search campaign includes over 7,500 keywords and hundreds of ads, meaning manually optimising the account on a daily basis used to limit both tactics and ROI.
In June 2015 Gravytrain took over the QuoteSearcher PPC account, which at this point had become somewhat stagnant albeit well-managed. Our aim was to use the multifaceted nature of the account to our advantage by implementing bespoke AdTech across the board, providing the ability to manage ads at a granular level without the previously required manpower.
PPC has always been an important part of QuoteSearcher’s business strategy. However, as with most business strategies, QuoteSearcher’s requirements changed over time in line with insurance markets and consumer demand.
QuoteSearcher has numerous revenue streams to ensure profitability, however the company wanted to bolster their PPC efforts in particular so that they had the flexibility to move into new products as well as adapt budgets across the board on an ad-hoc basis.
Gravytrain was therefore asked to elevate QuoteSearcher’s PPC campaign so that the company could gain more control over their marketing strategy. Our objectives were:
- Gain greater control over the amount of profit and leads generated through PPC
- Be able to manage each insurance type individually without overuse of manpower
- Identify new niches within the insurance market for paid search campaigns
- Gain greater market share across numerous insurance products
Gravytrain identified that in order for the PPC account to grow and generate more revenue it would need to be managed day-to-day at the most granular level.
After realising manually managing an account in excess of 7,500 keywords would not be possible, Gravytrain made a shift in strategy to an AdTech orientated one.
Gravytrain created three bespoke pieces of technology for QuoteSearcher’s PPC account, consisting of:
Target CPA Tracker – Each day, the Target CPA Tracker automatically reviews and updates bids at a keyword-level based on how well each keyword has performed over the previous 30 days in relation to the individual insurance type’s predefined target Cost-Per-Acquisition. The new daily MaxBid for each keyword is calculated using the below formula, which makes use of QuoteSearcher’s sales and AdWords data.
IPL = Average Income per Lead (per insurance type)
PM = Desired Profit Margin
Converting Query Application – Each week, the Converting Query Application iterates through the account’s Search Query Report, identifies converting queries that have triggered non exact-match target keywords and adds the query as an exact-match keyword to the relevant AdGroup.
Dynamic Landing Pages – Dynamic Landing Pages allow account managers to identify niches applicable to a particular insurance type, create new super-relevant pages for the niche based on a template page and start advertising for these niches within minutes.
Since the preliminary stages of implementation in July 2015, QuoteSearcher has seen records for revenue and profit generated by PPC broken every single month.
In January 2016 PPC revenue broke the £100,000 mark for the first time – a £40,000 YOY increase. PPC now accounts for 50% of all revenue generated for QuoteSearcher, up from 34% the same time last year.
Individually, each piece of AdTech has also provided some outstanding results:
Target CPA Tracker (Time period: 7 months)
Converting Query Application (Time period: 3 months)
Dynamic Landing Pages (Time period: 5 months)
With QuoteSearcher’s PPC campaign now able to deliver results never before thought possible, the company are adapting their business strategy to expand into more markets and receive an ever-increasing market share across numerous insurance products.
Gravytrain’s custom-built technology has established PPC as our primary revenue generation channel. On top this, by looking after the account’s performance at the most granular level, it has allowed us to gain a level of control over our PPC activity’s profitability that was unimaginable before Gravytrain took over the account.