The Client.
Service: Meta & Google Advertising
iFinance Canada specialises in providing financing solutions for medical, dental, personal, and veterinary needs. Since its establishment in 1996, it has partnered with over 10,000 excellent service providers, ensuring its customers get the very best care. With financial aid for cosmetic procedures, life-saving animal surgeries, home improvements, and more, iFinance Canada has assisted over 100,000 Canadians with confidence and success.
What We Did.
As part of our work, we set out to enhance iFinance Canada’s digital advertising strategy by improving their ad structure, messaging, and lead generation journey.
When we took over the account management in May 2023, the account lacked structure; Different verticals (brands) were advertised in the same campaign, with over 10,000 keywords active simultaneously. Ad Groups lacked proper keyword grouping, and there was no distinction between branded and non-branded keywords. This resulted in some PPC traffic cannibalizing their organic traffic.
Initially, we separated the main vertical from the others, running two separate Google Ads accounts and GA4 properties for each sub-brand.
Our team then audited the entire keyword list, identifying the top performers. As a best practice and to avoid underperforming keywords, we reduced the number of active keywords from 10,000 to fewer than 100. We then created multiple campaigns that included a combination of PMAX and Search for each Google Ads account. One of these search campaigns was a brand campaign, which we utilized to strengthen our position in the search result pages, reduce the cannibalization caused by disorganized keywords, and protect the brand from competitors targeting their name.
Finally, we deployed a new budget structure, focusing heavily on their main service/vertical while allocating the remaining budget to the others.
During this fruitful journey, we encountered and overcame various challenges, including reducing budgets while maintaining CTR and lead generation, consistently hitting lead gen targets during a web host migration, dealing with a complete site redesign and backend changes that disrupted conversion tracking, setting up Meta ads, and reallocating budgets across platforms while maintaining leads and CTR.
Over the course of 6 months, we achieved the following :
- Significantly reduced cost per application, improving CPA by 33% in 2024 compared to the same period in 2023.
- 65% improvement in overall Click-Through Rate, rising from an average of 10% on most of the campaigns to 16% overall in one year.
- Consistent delivery of high-quality leads and completed loans despite tracking issues.
- A fourfold increase in Impression Share, showcasing the enhanced visibility in a highly competitive industry.
The Results.
Significantly reduced the Cost Per Acquisition by 33%.
Successfully improved overall CTR by 65% YoY.
Improved Impression Share by over 4 times, from around 6% to nearly 25%.