This blog will guide you in optimizing your mutual fund marketing campaigns using effective Google Ads management. Discover practical steps you can take below!
Did you know that Google Ads can be very effective in mutual fund marketing? In fact, in 2024, the average click-through rate of the finance and insurance industry reached 7.71 percent. For context, that places mutual fund marketers in an industry that has one of the Top 10 highest CTRs among 23 business categories. But then again, being in an industry with a high CTR doesn’t guarantee your success. To fully leverage this advertising platform, you need expert Google Ads management.
Since PPC advertising offers immediate boosts, it has become a go-to strategy for many small- to medium-scale businesses. But while the results are near-instant, that doesn’t mean achieving them is a passive endeavor. In this blog, we’ve listed tips to help you get the hang of Google ads management for mutual fund marketing.
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Review Your Mutual Fund Marketing Campaigns Using The 3 Cs
One in two businesses fail to reach their desired ROI with PPC marketing. That’s largely because of reckless budgeting and poor targeting. To ensure your mutual fund firm doesn’t fall into these statistics, get your campaign back to the drawing board first.
What do you want to get from your Google marketing mutual fund ads? Are your ad copies and landing pages relevant enough for your target audience? It’s questions like these that help you uncover the truth behind your campaign’s not-so-stellar performance.
However, if you want a more data-guided review, it’s best to focus on the key performance indicators (KPIs). Here are the three basic Cs you may want to zero in on:
Click-Through Rate
The click-through rate calculates the percentage of users who clicked on your ad immediately after seeing it. In Google ads management, a low click rate indicates that your ad isn’t enough to convince people to engage with it. Some common reasons for this poor performance are low ad placements, irrelevant content, and unappealing design.
Conversion
Conversion occurs when an ad clicker takes action because of your ads’ relevance and persuasiveness. Let’s say your marketing mutual fund campaign is offering a newsletter. The number of people who signed up for updates is how you can measure that ad’s conversion rate. Depending on your campaign, this rate is also measurable by how many filled out a consultation form or even those who started to open an account.
Cost Per Click or Cost Per Acquisition
Finally, there’s the cost per acquisition (CPA). If your mutual fund marketing campaign has no access to conversion data (especially during its initial phase), it’s best to focus first on cost per click (CPC). Such a metric works best when your marketing goal is determining the most cost-effective keywords to use in your ads.
On the other hand, CPA is what online mutual fund marketers focus on as a primary ad performance indicator. With CPA, you’ll find it more manageable to quantify how much you can spend to acquire a particular investor while also considering the potential ROAS they could bring to the table. That helps ground your decisions to a more data-driven approach.
By focusing on these indicators, it will be easier to have your PPC mutual fund marketing campaign drive results. Whether it’s investment engagements or fund acquisitions, KPIs are your compass to success.
Google Ads determines the Quality Score using three components: expected click-through rate (CTR), ad relevance, and landing page experience.
Why A/B Testing Matters in Google Ads Management
It’s essential to review your ads’ performance and constantly reevaluate your targeting approach. Experiment with different versions of your mutual fund marketing materials. A/B testing is a powerful method that allows you to compare ad variations using data-driven insight.
One of the many benefits of A/B testing is its value in optimizing ad performance. Remember, even the subtlest changes in wording can impact how people engage with your ads. Fortunately, this tool offers a safe space to test different versions of your ad copies, images, and calls to action. Through constant testing, you’ll learn which elements best resonate with your audience.
Aside from ad performance, A/B testing amps up your marketing mutual fund ads by improving user experience. Comparing various offerings and visuals paves the way for more personalized advertising. This method also helps with audience segmentation as it reveals which group of people interacts more with a particular version of your ads. For all those reasons, our Google Ads management agency strongly recommends that A/B testing be a part of your company’s PPC campaign.
The Importance of Keyword Match
Another aspect of Google Ads management that mutual fund marketers often overlook is keyword match. These help control how close a search query must align with the keywords your ads will appear in.
The default type is called broad match and it helps your ad reach the widest audience. This type works best during the data-gathering stage of your mutual fund marketing campaign. It helps capture a wide array of search queries—even those you haven’t considered yet. However, using this ad requires careful monitoring to filter out irrelevant clicks.
The next type is phrase match. It targets the exact phrase and its close variations with more words before or after them. This type lets your ad appear on more precise terms while still offering flexibility.
Lastly, there’s the exact match, which displays your ads only to searches that contain the exact keywords. Because of its high precision level, this type only works best if you already have enough data from your active PPC ads.
Keep in mind that using a broad keyword match type may lead to wasted ad spending, especially without careful tracking. In contrast, using a restrictive match type may cause you to miss out on potential investors. But with strategic Google Ads management, you’ll know how to use the performance data to use the right match type based on your situation.
When to Switch to Automated Bidding
The automated bidding feature is a very useful aspect of Google Ads management. Mutual fund providers can use this to manage campaigns at scale. Whether it’s device location, time of day, or user behavior, automated bidding offers signals to help you fine-tune bids to make sure your ideal bid matches the specific auction for that particular user at that particular time.
So, when should you leap to automated bidding? Based on our experience in Google Ads management, one of the best indicators is when you’ve gathered enough data from your marketing mutual fund campaigns. With enough clicks and conversions, you’ll be able to give the algorithm adequate resources to work well.
Another sign is when your campaign objectives are ready to jump to more sophisticated objectives. For instance, perhaps you want to achieve higher ROAS instead of focusing on getting more clicks. Automated bidding can handle such complexities better than manual adjustments. With strategic decision-making, this tool can lead to more efficient PPC campaign management.
Setting the Right Daily Budget for Your Mutual Fund Marketing Campaign
You’re probably wondering how to know the best daily budget you can set for your ads. The answer depends on where you are in your testing phase. If your campaign has just begun, an acceptable range would be around $10 to $20 a day.
But if your campaign is already quite successful, you can have a $50 daily investment as your starting point. As we learned from over two decades of experience providing Google Ads management services, it’s better to start your ad spending small. You can then work your way up as you get more justifications on why you must increase your budget. Again, it always goes back to consulting your key performance indicators for wiser decisions.
Setting your ads to run only on peak times paves the way for a more efficient use of your mutual fund marketing budget.
Final Advice for Better Google Ads Management
Managing a mutual fund firm comes with its own set of challenges. If you’ve got your hands full handling other aspects of your investment firm, it’s best to seek expert help in Google Ads management.
With over 20 years of experience in online marketing, Zero Company has extensive experience as a Google Ads agency. We’ve supported over 2,500 businesses in their digital marketing campaigns—and this number is still growing! Our expertise will help ensure that your Google Ads attract the investors you want!
Book a free consultation with us to learn how effective Google Ads management can boost the success of your mutual fund marketing campaign!
