In the quest to capture the attention and dollars of younger consumers, financial institutions will find that the internet can be a robust ally. A recent study indicates that 44% of millennials use online search as their preferred method for researching financial products (Millennial Research Study by the Principal Financial Group, 2015).
Searching For A Tried And True Method
So now that we know where their attention is focused, the next question is, how best to target them? While techniques such as search engine optimization (SEO) and social media can increase visibility — there is one method that nearly guarantees visibility for the most interested prospects: paid search, or pay-per-click advertising.
In short, paid search works because it capitalizes on the intent of the user. When someone searches Google for “checking account reviews” and an advertisement for your financial institution appears at the top of the page, that visibility is precious. If the user is shopping for a new checking account (as a search query like “checking account reviews” implies), then you have a clear opportunity to convert them into a customer.
Paying For Results
Another advantage is that paid search advertising is highly cost-effective. In other words, you’re not paying for everyone who views your ad — the search provider (like Google or Yahoo) only charges you when someone actually clicks on your advertisement. Consequently, only truly interested prospects will visit your institution’s website to explore the solutions you offer.
Paid search advertising is also tireless. If someone is looking for a checking account that reimburses ATM fees at 3 am, your ad gets shown at 3 am. No extra work or additional cost involved — it runs around the clock while you focus on other priorities.
Following The Trail Of New Customers
Paid search is a powerful combination of the right message being shown to interested users at the right time. This type of traffic is also highly traceable, meaning you gather valuable data about exactly how many people are seeing your ads, and the actions they’re taking.
Here at Kasasa, we have managed over $3.5 million in paid search campaigns for more than 200 clients. We leverage this data to build a campaign that fits your budget and achieves the goals that are most important to you. This service doesn’t just apply to advertising Kasasa products on your behalf — we can also design a paid search campaign around any aspect of your business that you wish to advertise.
Contact your Marketing Project Manager to discover how Kasasa can help you use paid search as part of your upcoming marketing initiatives.