Fortune 500 Insurance Provider Increases Lead Volume While Reducing CPA by 58% with QuanticMind

Fortune 500 Insurance Provider Increases Lead Volume While Reducing CPA by 58% with QuanticMind

Increase lead volume by 60%

Reduce CPA by 58%

Establish publisher-specific conversion goals

Set up weighted conversion goals

There’s a lot of great stuff to like about QuanticMind. The efficiency with which the campaigns are run. The number of changes that are pushed out every day. How much data the platform can digest and then spit out actionable items for.
Sometimes we’re in awe.

PPC is the sharpest tool in the advertising toolbox for many performance marketers. When assembled smartly and optimized effectively, PPC programs have the power to generate a data goldmine and a deluge of lucrative actionable insights that can inform strategies not just across a marketing organization, but throughout an entire business.

The PPC terrain is a hazardous one, though, and if campaigns are left to run unchecked, budgets can quickly disappear with minimal consumer engagement and precious little returns to show for it. This was the scenario facing the Digital Media team at a leading medicare supplement insurance company. The performance numbers that their digital agency was bringing in through Search Ads 360 had grown critically stagnant and key areas of their program were being outright ignored. “It was poor. Everything was so mismanaged at a platform level,” they explain.

The agency simply wasn’t keeping up with conversion actions in Google or Bing and when we were getting the campaigns back, there was a multitude of things that were wrong: the text ads were floundering, there were too many text ads in there, and underperforming keywords were just blowing through money.

A better, more robust strategy was required and that meant bringing everything back in-house. Once that decision was made, there was only one place they would turn: QuanticMind.

Best-In-Class Bid Optimization

The team had leveraged the QuanticMind platform with great success in the past, but internal changes compelled them to switch their paid search approach and outsource the execution to an agency. “When we were with QuanticMind before, the campaigns were doing well so taking it away was a hard pill to swallow,” they recall. “Our company underwent a reshuffle and the idea behind the transition was to alleviate all the heavy lifting that comes with day-to-day bid management, but it just didn’t work out. When we came back to QuanticMind, we didn’t look at anybody else.”

Once the relationship had been renewed, the two partners moved quickly to get the program back to profitability. The onboarding process was seamless, integration was a cinch, and the Digital Media team’s nebulous views into campaign performance gave way to the hard data generated by QuanticMind’s machine learning-powered solution. Where previously they had been unable to align frontend and backend data to determine whether clicks were turning into conversions, they were now empowered with full visibility into the customer acquisition journey and a transparent path to revenue.

Armed with this new clarity, the focus shifted onto Bing Ads, an avenue of their paid search program that had hitherto been overlooked. “Conversion goals on Bing are a lot different than what they are on Google, and because Bing had been neglected for so long by the agency, nothing was really ever set up,” they say. “We got QuanticMind involved because we needed help figuring out what to do. We leaned on the QuanticMind pixel until we could navigate the Bing platform and get the conversion goals set up.”

We also worked together to implement weighted conversion actions, whereby we set the value of an online application more heavily than say a quote, lead form submit, or a phone call. That’s been extremely valuable. Our account representatives further set up hybrid metrics for us to apply to our bid policies which was very much appreciated.

It has always been a great benefit of the partnership—being able to sit down with QuanticMind’s SEM experts and talk about ideas we have and things we want to try.

Not All Agencies are Created Equal

The most important time of the year for the Digital Media team is their annual Open Enrollment Period, which typically takes place between mid-October and early December. In anticipation of this busy season, they tapped into the services of QuanticMind Digital; the agency branch of QuanticMind. “We added on this extra layer to the relationship because we needed help breaking out all our campaigns by state,” they explain. “QMD took the five campaigns we had and turned them into 100 because we did non-branded and branded for each state. It was a massive undertaking, but we saw huge growth from those campaigns. We were really impressed.”

As a collective result of all these optimizations and enhancements, QuanticMind has empowered the company to increase their paid search lead volume by 60% while
simultaneously reducing cost-per-acquisition by 58%.

They attribute this success back to a combination of factors:

The account representation we receive is fantastic and the performance we get out of it as well. That’s definitely what made us come back. But we’re also in awe of how the bidding algorithm actually works. We believe that getting down to the keyword level and looking at each keyword as an individual performer is definitely the way to go. We’re really happy how it’s going so far and we know there’s more to come.