Mastering Google Ads for Insurers: Reducing CPL by 86.27%
Reducing your Cost Per Lead (CPL) helps your business reach its objectives. We helped to reduce the Cost Per Lead (CPL) by 86.27% for one of our insurance clients.
TLDR
Our lead generation in Google Ads effectively reduced the clients Cost Per Lead (CPL) by 86.27% from R750.13 in May to R102.92 in September.
At the same time, conversions increased from 212 in May to 374 in September, a 76.41% increase in conversions.
The challenge
The goal of any smart paid media campaign is the profitable acquisition of customers. One of the key steps to a successful Google Ads campaign involves managing your Cost Per Lead (CPL). A lower CPL helps to minimise your overall cost of acquiring a customer PROFITABLY. By ensuring a low CPL, you can benefit from a lower cost per sale, and eventually higher Return On Investment (ROI) and improved profitability.
Our client was struggling with their lead generation efforts through Google Ads. With an exceptionally high CPL of R750.13, our client’s lead generation was not profitable. They were spending more money to get a customer than they made from that customer.
Client overview
Katana’s client is a South African licensed Life Insurer. As part of their mandate, they’re also an authorised Financial Services Provider, and registered credit provider. The insurer sells their insurance products through their in-house contact centre.
The solution
Katana took over the Google Ads campaign management in May 2023. We optimised and applied our best practices to the account. Part of our optimisation efforts involved creating new lead forms and landing pages to make it easier for users to convert.
The results
Our optimisations effectively reduced the Cost Per Lead (CPL) by 86.27% from R750.13 in May to R102.92 in September.
At the same time, conversions increased from 212 in May to 374 in September, a 76.41% increase in conversions. During September, the budget was halved, and the campaign was stopped, hence the reason for the drop in conversions.
We got more sales for less money.
These results show the importance of partnering with a specialised lead generation agency, like Katana. Our deep understanding of implementing lead generation strategies helps us produce excellent results. Want us to work towards reducing your CPL? Complete the form below.
