Overview
LeverageRx is a digital lending and insurance marketplace exclusively for doctors. Based in Omaha, Nebraska, LeverageRX makes it incredibly simple to compare rates on physician mortgage loans, physician disability insurance, student loan refinancing, and other financial services for medical professionals.
Challenges
Advertising on Google Ads since 2015, LeverageRX always had a difficult time scaling their campaigns profitably beyond a few thousand dollars in ad spend per month. With clearly defined cost/conversion goals, they were not able to increase volume without sacrificing efficiency. Their bottom-funnel (BOF) keywords produced quality traffic and high conversion rates but CPCs for those terms were high and their search impression share was consistently limited by their ad rank/bidding strategy.
Strategy
Efficiently scaling profitable campaigns is a problem that we are very familiar with. We decided to take advantage of the client’s robust website by utilizing multiple dynamic search campaigns, targeting the different digital lending and insurance options that LeverageRX provides.
Dynamic search campaigns are a great way to discover unique search terms and generate quality traffic from auctions that competitors may be ignoring. If we could generate conversions from less competitive auctions, we’d be able profitably scale the campaigns.
We also layered on a similar audience for all previous converters to give the dynamic ads a head start in serving our ads to the best users. Dynamic search ads are a great way to leverage Google’s machine learning but it is always important to provide the AI with as much valuable data as possible.
Results
The new account structure resulted in a steady increase of volume - 64% increase in conversions over the course of 6 months - and actually reduced CPA by 17%. March 2020 was their best month on record - spending over $30k and returning more revenue than any month in the history of the company.
