CLIENT: The Police Credit Union
VERTICAL: Finance
The Police Credit Union has been the credit union of choice for police and their families since 1953. As a non-profit financial institution, The Police Credit Union passes earnings on to members in the form of better rates, lower costs and improved services.
THE CHALLENGE
In June 2020, The Police Credit Union approached Xtropy seeking a partner that could develop and execute a strategic plan for their digital ad spend, and also properly track offline conversions in order to prioritize media dollars and gain visibility to which channels leads and new customers were being driven from.
They specifically wanted to advertise to their niche customers in law enforcement and offer them financial products.
GOALS
Generate targeted audience awareness
Optimize ROI
Track online and offline converions
OUR SOLUTION
Xtropy recommended and built a full-funnel campaign that utilizes Google’s Display Network and YouTube TrueView video ads for upper- and mid-funnel awareness and consideration, and Google search ads for the bottom-funnel conversions. Police CU wanted to see proof of performance before committing to the full-funnel, so we started with two Search campaigns, brand, and non-brand. Which we would later expand to Display, TrueView, and Discovery campaigns.
THE RESULTS
Within the three months, our search campaigns drove over 141 conversions which included, new account applications, auto loans, personal loans, credit cards, and more with an ad spend of around $1,200. Police CU was very happy with the return on their ad spend and decided to proceed to test the full-funnel approach.
Xtropy added a display campaign to drive awareness and consideration, and with the use of a custom audience, we were able to better target law enforcement within their geographic area. Within two months, our ads interacted with over 845,000 potential customers. As the search campaigns capitalized on top-funnel awareness, we saw conversions increase by 35% from the previous two months. The number of potential customers searching for Police CU also increased by 72%.
Conversions increased 4x
Cost per conversion dropped 80%
After the display tactic was proven successful we launched a TrueView campaign to increase top of funnel awareness and within the first four months, it resulted in over 10,300 video views. Which increased impressions in our search campaign by 35%, conversions by 50%, and decreased our cost per conversion by 26%.
Lastly, Xtropy launched Discovery campaigns taking advantage of our custom audiences and saw an 82% increase in impressions, a 90% increase in conversions, and a 21% drop in cost per conversion. Ultimately, conversions ended at a very efficient $11.77 cost per conversion.
To show the dramatic difference running a full-funnel campaign can make, key metrics compared to a search-only approach are as follows:
Conversions have increased by 4x per month
Estimated value of the conversions has increased by 6x
The cost per conversion dropped by 80% per month