Strocko Consulting Leverages the Power of Custom Metrics to Boost FinServ Client’s Conversion Rate by 67%
Custom Metrics, Offline Conversions
Strocko Consulting is a leading SEM firm which offers consulting, strategy, execution, and management services for businesses and agencies. Strocko had a financial services client that specialized in personal injury compensation. They offered pre-settlement funding to plaintiffs involved in an accident before their case is settled. They needed a more efficient way to reach clients that qualified for their funding and to sift through those applications that did not meet their requirements.
Prior to working with Skai™, Strocko had been optimizing towards the client’s total number of applications. They tracked all form completions and phone calls over 2 min, and optimized towards these actions evenly. As a result, their strategy was to produce the most applications with the lowest CPA, regardless of outcome. While this strategy initially achieved their goals in 2019, they had a relatively low application acceptance rate of 13%. They turned to Skai™ for ways to improve this important KPI and further increase their revenue.
In order to improve the number of funded applications, they needed a way to leverage the data from the search campaigns that performed the best and drove the most conversions (funded applications). Skai™ worked closely with Strocko and the client to backfill funding data into their campaigns by having the client upload funding data on a daily basis via an external file. Skai™ used the file to match their data to their original forms. This enabled Skai™ to better assess each funded app by keyword, device, publisher, etc., and allowed Strocko to optimize towards accepted applications.
Once they were able to apply custom metrics and more heavily weight funded applications, the FinServ client was able to set higher bids on keywords that would drive the most relevant traffic to their site and attract applicants that resulted in funding.
Before working with Skai™, Strocko’s client struggled to improve their funding rate (conversion rate) of 13%. Yet with the help of Skai’s™ custom metrics and offline conversion integration, Strocko was able to boost their client’s funding rate by 67%. This lift was even more significant given the economic impact of COVID-19, and that their success was in their non-branded campaigns – typically lower performing campaigns – yet they were still able to drive more efficient results.
increase in conversion rate (funding rate)
“The integration of offline sales data into Kenshoo gave us greater visibility into actual campaign success. This allowed us to adjust our optimization strategy and focus on leads that were more likely to convert into customers for the client. As a result, our client saw improved efficiency and revenue from their non-branded search campaigns.”
Andrew Strocko, founder of Strocko Consulting
About Strocko Consulting
Strocko Consulting is a leading SEM firm which offers consulting, strategy, execution, and management services for businesses and agencies.