How Pricing in Search Ads Increased Conversion Rate by 100.6%
Pricing in Ads: Digible is able to dynamically insert real-time pricing into its paid search ad copy. With this new ad creative, we set out to learn what kind of impact including monthly rent in paid search ads has on performance.
The idea is that including pricing in ad copy will help qualify renters before they go to site. If a user sees a price outside of their price range, they won’t bother clicking on the ad because they already know it’s not a viable option. And of course vice-versa, if the price is right the user will click to site!
Ads with no pricing in ad copy versus ads with updated pricing in ad copy. Data spanning across all of Digible’s portfolio as of August 2020.
|Ad Type||Ad Performance(Leads/Impression)||CTR||Conversion Rate||Cost Per Lead|
Including up-to-date pricing in ad copy significantly improves performance in CTR, conversion rate, cost per lead and leads per impression. In other words, pricing in ad copy is an absolute home run strategy when looking to increase performance metrics for paid search ads.
*It is important to note that there are requirements in eligibility for setting up these dynamic search ads. Talk to your Account Manager today to see if your accounts are eligible.
- Conversion Metrics
All conversion metrics improved across the board when implementing ads utilizing rent prices. This proves the theory stated earlier that pricing can help qualify renters before they go to site. When a user sees pricing before going to site, and they decide to click on the ad, they are more likely to convert on-site than a user who sees an ad without pricing.
As we see conversion metrics improve, we are in turn improving our efficiency across the account. That means more spending dollars for more qualified users.
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