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How iQuanti’s award-winning campaign optimized Paid Search for HomeEquity Bank.

iQuanti won the Best Paid Search Campaign award at the 5th International Performance Marketing Awards 2021 for its work with HomeEquity Bank. The awards aim to “showcase the industry’s most innovative and groundbreaking campaigns, companies and individuals.

Teamwork makes the dream work. Thank you iQuanti – this is a truly noteworthy and exceptional recognition among a global field of top performers.

-HomeEquity Bank

HERE’S AN OVERVIEW OF OUR AWARD-WINNING CASE STUDY:

CLIENT

HomeEquity Bank is a leader in offering reverse mortgages for Canadian homeowners aged 55 and over with safe, simple options that let Canadians retire in their own home. HomeEquity Bank offers a product called the CHIP Reverse Mortgage, which lets homeowners convert their home equity into tax-free cash.

CHALLENGE

Last year, Google placed a new restriction on the ad category for age targeting. This meant no more age-level targeting for HomeEquity’s search campaigns to filter out people below age 55. The client needed to find a new way to target their paid search initiatives.

Last year, Google placed a new restriction on the ad category for age targeting. This meant no more age-level targeting for HomeEquity’s search campaigns to filter out people below age 55. The client needed to find a new way to target their paid search initiatives.

CHALLENGE
SOLUTION

Without age targeting, we leveraged available in-market and detailed demographic audiences from platforms. We also used first-party data from our website tracking to create audiences. These were some of the campaigns we implemented during FY2020 which yielded positive results:

This is a recognition of the depth of our work with our clients in a very competitive search landscape. Our paid search program is based on the fundamental understanding of the search auction and layering it with audience and automation.

-Sreekant Lanka

(SVP Digital Solutions, iQuanti)

REVISED AD COPY TO ADDRESS COVID-19

We wanted to emphasize the fact that the CHIP Reverse Mortgage has a completely contactless process. We also made sure to include the age 55+ directly in the ad copy to bring NQ rates down.

COORDINATED BIDDING STRATEGY WITH A THIRD-PARTY PARTNER SITE

Using Review Counsel, we coordinated our bidding strategy with a third-party partner site.

IMPLEMENTED SMART BIDDING TESTING

While Google reps always encourage advertisers to transition everything to Smart Bidding (tCPA, tROAS), we kept some campaigns under manual bidding as they tended to perform better. We left our coordinated bidding campaigns with Review Counsel as manual bidding to control the costs. This strategy ensured that the two advertisers were not competing with each other.

OPTIMIZED LANDING PAGE EXPERIENCE

We connected our TrustPilot account with Google to optimize the landing page experience and applied other implementations through Google, including trying DSAs (Dynamic Search Ads). We also implemented “image extensions” from Bing.

Key Results:

CPC

-0.9

CPI

-0.16

Conversion Rates

+19%

Inquiry:

75% of FY 2020 target met,
+17% increase cost per stage in sales journey

Meeting:

7% of FY 2020 target met,
+12% increase cost per stage in sales journey

Application:

73% of FY 2020 target met,
+18% increase cost per stage in sales journey

Funding:

78% of FY 2020 target met,
+10% increase cost per stage in sales journey

Have questions? Reach out to our Digital Solutions team today for more insights and assistance.

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