Growing Profit with Innovative Data Solutions

QuoteSearcher saw increases in revenue & profit with a campaign that was awarded Finance Campaign of the Year at the UK Biddable Media Awards 2018

Gravytrain and Quotesearcher, a lead-generation provider to the insurance market and long-term client, used purpose-built, inhouse PPC AdTech and comprehensive data analysis to increase YoY profit by 82.5% and break revenue records – a campaign that was named Finance Campaign of the Year at the UK Biddable Media Awards 2018.

Their Goals

PPC accounts for over 40% of QuoteSearcher’s revenue, therefore the company wanted to focus on optimising account efficiency, as well as introducing the opportunity to adapt budgets across the board on an ad-hoc basis.

Gravytrain were asked to elevate QuoteSearcher’s PPC campaign, with the primary objective to focus on maximising account profit and making the most of their campaigns in a time and cost-effective manner. In addition to this, Gravytrain’s objectives included the following:

  • Maintain greater control over the volume of leads generated through PPC
  • Manage each insurance type individually without overuse of manpower

Our Approach

In a fiercely competitive insurance market, with high levels of media noise, getting heard by the target consumer requires more innovative and intelligent approaches to marketing than ever before.

Gravytrain identified that in order for the PPC account to grow and generate more profit it would need to be managed day-to-day at the most granular level and utilise data-driven solutions account-wide.

After realising that manually managing an account with an excess of 36,000 keywords would not be possible, Gravytrain made a shift in strategy to an AdTech orientated one. Our aim has been to capitalise on the multifaceted nature of the business through implementation of a bespoke technology solution.

The Innovation

Our AdTech is designed and implemented in-house to perform an advanced, data-driven bidding strategy. The technology works across all campaigns, for every product, on every keyword, day or night, 365 days a year. These scripts have provided results that even a whole team of people would struggle to achieve.

On a weekly basis, the AdTech script calculates a target cost-per-acquisition (CPA) by monitoring and recording cost, revenue and profit metrics at a product level. Following this, the script generates a MaxBid for each keyword integrating the following data:

  • Key Google AdWords performance metrics from the last 28 days, including clicks and conversion rate;
  • QuoteSearcher’s keyword performance data, in relation to the individual insurance type’s predefined target CPA.

The script runs daily and generates a MaxBid using the following formula:

AdTech Formula

A key feature of the AdTech is the ability to safeguard against dramatic drops in performance that could potentially have catastrophic impacts on Quotesearcher’s media spend and performance. By monitoring cost, revenue and profit data on an hourly basis, at keyword level, the AdTech consistently maintains daily profit targets. Further to this, hourly performance monitoring offers the capability to respond with agility to surges in market demand and capitalise on the opportunities that put QuoteSearcher ahead of the competition.

Determining an insightful reporting time-frame and identifying the most pertinent metrics for QuoteSearcher’s business model were central to this tailor-made technology solution.

Each piece of AdTech was written in JavaScript and is run through Google’s AdWords interface. For security reasons, each script was implemented in stages; tested and improved along the way, until the account became fully automated. Naturally, fail safes were included in each script. For example, parameters to ensure spend does not exceed a designated amount.

Their Results

Ever since the preliminary stages of implementation in July 2015, QuoteSearcher has seen records for revenue and profit generated by PPC broken almost every single month. In 2017, PPC revenue broke the £1,000,000 mark – a £58,817 YoY increase.

Profit and Revenue Increase

Gravytrain achieved a substantial YoY profit increase of 82.5%, a total increase of £159,834. This success can be attributed to efficient use of time, cost and people resources, as facilitated by the Gravytrain’s AdTech. Further to this, Gravytrain were successful in maintaining greater control over revenue and lead volume, achieving an annual increase for both metrics.

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.

“In a tough industry sector, constant innovation is key and it is clear that Gravytrain & Quotesearcher have mastered this.”

- UK Biddable Media Awards Judging Panel