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.
Online insurance firm Verti had to goal to increase the number of online car quotes, while maintaining the investment, in order to reduce their cost.
Furthermore, Verti was looking to optimize the quality of these campaigns online traffic and, by doing so, improve the click conversion rate.
In collaboration with the consulting firm Making Science, Verti developed a strategy using Bid Strategies and Search Ads 360. The goal of the campaigns was to acquire each online quote at a target price.
Besides that, each campaign was channeled towards different audiences (first party and third party) so that each bid strategy could be adjusted based on different signals, such as:
- Number of words used in the search query
- Match type
- Specific device
- Time of day
The ability of Google’s Auction-Time bidding enables the use of thousands of signals from Google and the Google Marketing Platform to optimize the bid individually for each user.
In order to track the performance of the campaigns, a Data Studio was created to compare the metrics of periods that took place before and after activating 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.