PPC Campaigns: Understanding Cost Per Click: Website Blog by a PPC Service Provider for Mortgage Companies
In the competitive landscape of digital advertising, understanding the intricacies of Cost Per Click (CPC) is essential for businesses looking to optimise their Pay-Per-Click (PPC) campaigns, especially within the competitive mortgage industry. Mortgage companies in the UK face unique challenges, and understanding click costs plays a pivotal role in achieving the best results from their marketing budget. A successful PPC campaign can not only support lead generation efforts but also significantly enhance brand visibility in a crowded marketplace. With digital marketing strategies evolving constantly, it’s crucial for mortgage firms to stay informed about market trends to remain competitive.
To help navigate this dynamic landscape, Wired Media offers expert Pay Per Click Management tailored specifically for the mortgage sector. In this blog post, we will delve into the average CPC for mortgage company keywords in the UK, explore strategies to reduce click costs, and discuss why sometimes higher CPCs can be more beneficial. Understanding these dynamics enables businesses to make educated decisions that align with their overarching digital marketing objectives.
Average CPC for Mortgage Companies Keywords in the UK
Within the UK, mortgage-related PPC campaigns are known for having a diverse range of CPC values. Factors influencing the CPC include competition level, keyword popularity, and specific localisation. On average, CPC for mortgage-related keywords can vary between £2 and £15 per click. Below is a list of 20 keywords, including some of the most expensive within the UK market:
- Mortgage Rates – £8.50
- Remortgage Deals – £9.70
- Buy to Let Mortgage – £10.50
- First Time Buyer Mortgage – £7.60
- Fixed Rate Mortgage – £9.00
- Variable Rate Mortgage – £8.00
- Mortgage Advisor London – £12.00
- Best Mortgage Lenders – £11.50
- Commercial Mortgages – £14.00
- Interest Only Mortgage – £8.90
- Mortgage Calculator – £2.50
- Online Mortgage Approval – £6.80
- Help to Buy Mortgages – £7.40
- Mortgage Broker Manchester – £13.50
- Self-Employed Mortgages – £10.80
- Mortgage Refinancing – £9.20
- Equity Release Mortgage – £11.00
- Mortgage Comparison – £5.60
- Cheap Mortgage Deals – £4.90
- Low Interest Mortgages – £6.10
Nationwide vs Local Keywords
The difference between nationwide and local keywords is significant in shaping a PPC strategy. Nationwide keywords tend to have higher competition, resulting in higher CPC costs. For example, phrases like “Mortgage Rates” or “Buy to Let Mortgage” are widespread and desirable for a broader reach. However, targeting local keywords, such as “Mortgage Broker Manchester” or “Mortgage Advisor London,” helps attract a more refined audience seeking local services, often reducing CPC whilst increasing relevancy in searches.
Strategies to Reduce Click Costs
Reducing click costs involves several components that influence the overall cost per click. First, it’s essential to focus on improving your Ad Rank. Ad Rank determines where and if your ad will appear in the search results. It is calculated based on your bid amount, ad quality, and expected impact of ad extensions and other ad formats. Higher Ad Rank leads often to lower CPC.
Equally important is improving your Quality Score. Quality Score is Google’s rating of the quality and relevance of both your keywords and PPC ads. It factors into your CPC and Ad Rank, influenced by the expected click-through rate, ad relevance, and the landing page experience. Optimising these areas ensures that your ads are not only economically viable but also highly effective.
Furthermore, while aiming to reduce costs, businesses should remember that the goal isn’t always to get the lowest cost per click. Investing in high-quality, high-intent keywords, even if more expensive, can lead to a better cost per acquisition (CPA) and more valuable conversions. Therefore, a balanced approach is critical to achieving optimal results.
The Dynamics of the Mortgage Industry
The mortgage industry is uniquely positioned with regulatory and economic factors that influence marketing strategies. Mortgage companies must navigate not only market rates and competition but also consumer behavioural trends. This means tailoring marketing strategies to meet potential borrowers’ shifting preferences while staying compliant with financial regulations. Using informed keyword strategies to target potential clients at various stages of the buying process will optimise conversions and enhance customer acquisition efforts.
Conclusion
In conclusion, effectively managing a PPC campaign in the mortgage sector requires a comprehensive understanding of keyword dynamics, ad quality, and strategic investment in high-quality keywords. Mortgage firms can achieve superior results and optimise their advertising spend by leveraging consumer data and market trends. For specialised assistance, Wired Media stands ready to guide you through these complexities with expert Pay Per Click for Mortgage Companies strategies tailored to the unique demands of the mortgage industry.
