TF Bank 170% YoY conversion growth via Google Ads

In Q4 2022, TF Bank aimed to achieve significant growth in credit card applications through Google Ads, focusing primarily on search campaigns. However, the task was challenging due to the highly competitive search auction landscape, with strong competition from other banks and affiliate comparison portals. Additionally, the pandemic led to a noticeable decline in search volume for credit card-related queries. The primary goal was to drive continuous monthly growth in credit card applications while maintaining CPA (cost per application) at an efficient level.

To address these challenges, we began by conducting comprehensive keyword research to categorize search terms into informational, commercial, transactional, and navigational intent. This allowed us to build a well-structured campaign that targeted users at different stages of the purchase funnel – upper, middle, and lower. By segmenting traffic based on keyword intent, we were able to better control performance and optimize bids according to the specific conversion potential of each segment.

We experimented withwith different bidding strategies, including tCPA and tROAS, to identify the most effective bidding methodology. Our strategy also included transitioning from an exact-match-driven keyword structure to broader match keywords, which are favored by Google’s smart bidding algorithms. This change enabled us to capture a broader range of long-tail traffic and bid more efficiently on high-interest, short-tail keywords. The use of broad match targeting, combined with smart bidding, played a crucial role in scaling the campaign while maintaining efficiency.

The campaign was structured around key stages of the purchase funnel:

• Upper funnel: Addressed informational queries such as “wie viele kreditkarten darf man haben“, “wie funktionieren kreditkarten”, “kreditkarte wie hoch limit”;
• Middle funnel: Targeted general credit card searches like “Kreditkarte.”, “beste kreditkarte.”, 
• Bottom funnel: Focused on transactional queries such as “kreditkarte beantragen.”

To supplement the search campaigns, we deployed Discovery, Display, and YouTube ads, further enhancing our reach and impact. The most significant gains were observed when we gradually increased investment in broad match targeting, which allowed us to capture a wider range of relevant traffic.

We continued to refine our approach by running experiments within the account, comparing tCPA bidding against tROAS to determine the most effective strategy. These experiments were conducted at various levels – portfolio, campaign, and ad group – to ensure optimal performance across the board.

• Achieved 170% YoY growth in credit card applications from Google Ads (March 2022 to March 2021) and increased the volume of applications by an average of 10% each month since the start of 2021.
• Improved Search Impression Share by 34% for strategic and highly competitive keyword segments, leading to a significant increase in conversions.
• Enhanced the conversion rate for approved applications by 1.56% YoY.
• Reduced CPA by 15% YoY, despite increased media budget investment in search campaigns.