Funding Options are fast-growing business loans brokers “helping SMBs walk tall”. They compete in some of the most competitive ads auctions against hundreds of businesses from high street banks to funded fintech start-ups. They appointed DemandMore back in 2017 with the challenge of increasing lead volume while decreasing CPL as they had found that whenever they increased budgets their CPL spiraled out of control.
Our approach to scaling Funding Options accounts was three fold. Firstly, we implemented single keyword ad groups to ensure maximum relevance between what users were searching for and Funding Options ad copy. Secondly, we extensively tested their ad copy in a structured way, using n-gram analysis to see what had performed well in their current ads and then hypothesised several tests to run. We used our experiments studio technology to track when the tests had reached statistical significance so we could go in and create new tests to run. Finally, we helped them join the dots to measure the performance of their ads activity beyond leads to see which leads converted into revenue. We did this by linking their Google Ads account to Salesforce and importing sales data back into Google. This strategy helped Funding Options walk tall among their competitors and grow their account spend threefold whilst still reducing CPL over an 18 month period.