Wednesday, December 7, 2011

Getting the Most Out of Google AdWords for Credit Unions

Google AdWords. We’ve all heard of them. They’re those “sponsored links” you find on the top or side of your Google search results page. They just happen to correspond with whatever term you were searching. If you’re like most surfers you’ve probably even clicked on one of those links once in a while. That’s just what Google and the company advertising were hoping.


If you’ve ever been on the other end of Google AdWords, then you’ve discovered how much science is actually behind the process – and math. Results are broken up into impressions, clicks, clickthrough rates, cost-per-clicks and many more.


Trial and Error
When managed properly, Google AdWords can be a very powerful marketing tool to help your credit union grow its membership. But it does take the perfect mix of keywords and phrases to get beneficial results. Working with Google Analytics and through trial and error, you can juggle key terms to uncover which are most effective for your credit union.
According to Google, the more specific you can be in your keywords, the better off you will be. Plus, it never hurts to think like your potential members instead of a credit union. What terms would they be using when they’re searching for mortgages? Tailor the keywords to what your credit union specifically offers or is promoting when it comes to mortgages. Instead of just using the term “mortgage,” you’re better off using “low rate mortgage.” Google AdWords gives you the ability to tweak your keywords to find what works best for you.


Another great tip to remember is to stay away from plurals if at all possible. Using the word “mortgage” versus “mortgages” will enable you to capture people searching for both terms, while using the plural would exclude anyone searching using the singular term.


The Google AdWords Advantage
So, we’ve covered the nuts and bolts of Google AdWords – which might be leaving you wondering why use Google AdWords at all? If your credit union has some marketing dollars to spend, Google AdWords will give you the most targeted and affordable campaign results out there. You can advertise nationally or locally, depending on your needs. Going with Google AdWords enables your credit union to target online customers within a 20 mile radius if you’d like, or by a specific city, region or country. Basically, you’re reaching new customers at the precise moment they’re searching for products and services like those at your credit union.


Another strong selling point to Google AdWords is the cost. You only pay when someone clicks on your ad. And you can control how much you spend per click, your daily budget and where your ads appear. To get the most bang for your AdWords buck, just make sure you understand the overall ROI and then bid on the appropriate keywords accordingly.


Results
A major perk of Google AdWords is the backend data you receive on your campaign. You get graphs, statistics and performance data to help you track how your ads did – which makes it easier to make informed decisions on any editing that might be necessary.

Case Study: Facebook Advertising


Bellwether Community Credit Union Facebook Page on CU Solutions Group NewsletterGoogle isn’t the only online entity that offers pay-per-click advertising – Facebook is also making some impressive headway in their online advertising options.


Bellwether Community Credit Union had been experiencing a slow but steady growth of "likes" on its Facebook page and had reached just over 200 in a six-month time period. Impressive growth, but the credit union was looking to boost those numbers even more.


Once it started using Facebook ads, with a dedicated tab on the page itself, Bellwether’s "likes” have grown to over 500 in just three months. Madeline Anderson, marketing manager for the credit union explains, “We were running promotions and contests to get members to post on our Facebook page, but that didn't seem to have as much impact as the ads themselves.”


Getting Started
To get the best results from Google AdWords, it may be worthwhile to work with someone with AdWords expertise. Someone who is trained on the latest AdWords tools and best practice techniques to help you effectively manage your credit unions’ campaigns. If you’re interested in working with an expert, CU Solutions Group has trained staff to help.


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