How Verti España managed to optimize its conversion ratios with automated bidding in real time
Verti Seguros is an online insurance company with a global presence offering car, motorcycle, home and pet insurance. In collaboration with the consulting firm Making Science, Verti España devised a strategy for optimizing conversion with automated bidding, by using auction-time bidding in Search Ads 360.
As a result of Verti’s partnership with Google in recent years, Verti has been able to take part in the exclusive “Digital Marketing Transformation” program – a training program in which Google helps the main Spanish companies to acquire more experience in the digital arena. The uptake of new tools in the Data Driven Marketing field, such as Bid Strategies and Search Ads 360, is one of the big challenges these companies face, and Verti has been able to take full advantage of this, as a result of the DMT program.
Verti, an online insurance company, aimed to augment the volume of online car quotes without escalating the investment, effectively reducing their costs. Alongside this, Verti aspired to optimize the quality of traffic from their online campaigns, ultimately enhancing their click conversion rate.
Making Science and Verti devised a strategic approach using Bid Strategies and Search Ads 360. The goal was to secure each online quote at a targeted price. Each campaign was directed towards diverse audience segments (first party and third party), enabling the adjustment of bid strategies based on a variety of signals. including:
- The number of words used in the search query
- Match type
- Specific device
- Time of day
Google’s Auction-Time bidding, in combination with a wide array of signals, enabled individual bid optimization for each user. To monitor campaign performance, a Data Studio was created to compare metrics from before and after the activation of Auction-Time Bidding in the Bid Strategy.
Following a calibration period of the Bid Strategy and the new functionality, the results obtained were as follows:
- CPL decreased by 23%.
- An increase in conversion of 8% of the web traffic.
- A reduction of 16% in CPC.
Encouraged by the good results, Verti and the consulting firm Making Science decided to export this functionality to other Bid Strategies.