Leadgen in the bankruptcy niche in the States is not the easiest task, especially when mastering this vertical from scratch, but we were ready to take on the challenge.
Why lidgen in the bankruptcy niche in the States? When we choose new verticals, we ask the following questions:
1) Which country has the most potential to scale, how stable is it GEO, and are there any language barriers?
The United States of America is the third largest country in the world, both geographically and by population. They also speak English, which is a big plus and allows us to save time and money on translations and thus allow us to create more quality content.
2) What types of offers can we promote on Facebook?
We have to choose those products, which if we advertise on FB, our accounts will not get banned, that’s why we choose leadgen, white leadgen to be exact.
Leadgen has a simple flow, all you have to do is motivate the customer to leave their contact information. This means that any product or company looking for new customers is a potential affiliate.
3) Where do you get good rates and long term stability?
Having tested many offers in the financial sector such as home warranty and health insurance, we knew you could count on good rates and an endless stream of traffic in this niche, especially during the vacation season.
Creatives and texters
When it comes to white leadgen in the financial sector, one of the most important aspects is adherence to advertising rules. Thus, all creatives and promotional materials must be sent to the advertiser for appraisal.
We always try to test as many creatives and ads as possible, instead of trying to guess what will or will not work without any solid data.
We test hundreds of different pictures to see what works. We usually divide all the pictures into categories/approaches such as people, checks and money, houses, cars, etc. Then we test them and see if they show the CTR we want.
Here are some pictures of checks and money that we tested:
This is one of the 5 sets of check and money pictures we used. We did the same with pictures of people, houses, etc.
The best envelope showed these approaches:
- Happy people with or without cards in their hands
- Checks and pictures of checks along with various symbols of the United States
Here are the most successful ads:
We tested about 25 different ads until we realized what converts the best. Here you can see an example of a FB ad with the best combination of pictures and ads at the time:
With or without padding?
From our experience, it is always better to run FB campaigns with padding.
We use Voluum tracker and choose “no redirects” option on lands to minimize redirects. As you know, Facebook does not like redirects and this can cause a ban. Also, you have more control over your traffic if you use padding in your funnel.
We tested about 15 different pads, some we got from spy tools and some we made ourselves. As we anticipated, the unique pads we created ourselves converted better. At the end, we had two clear winners with CTRs ranging from 36.94% to 49.32%.
The first preland winner was a page with two simple questions. This helped filter out those people who weren’t interested in the product:
The second prelander is a classic article:
Tests and Optimization
Here you can see that the first tests didn’t produce good results:
But after optimization, the results improved. By selecting the images and ads that converted the best, as well as targeting only those states that showed good EPC, we got better results. However, they still weren’t as good as we needed them to be:
After a week or two, we managed to get the numbers that satisfied us:
By collecting more and more pixel conversions, sharing that pixel with other BMs, and using the data we collected, we were able to start generating a large number of new leads daily.
We also started retargeting campaigns and campaigns with similar audiences from purchases and began to scale. After two months, we achieved the following results:
As you can see, we were able to achieve 21% CR on the offerer. Conversions ranged from 15-30% daily, and 21% was the average after 5k conversions.
The CTR of the pad should be in the neighborhood of 40%. Keep A/B testing pads until you get to about the same figure. We’ve never seen a CTR higher than 60%.
The suspicious visits you see are bots from Facebook when the campaigns are in review. You need to check the number of bots with the ISP breakdown and exclude them from the results, especially in the early stages of campaigns.
We spun campaigns in 6 accounts without blocking. We lost 2 accounts because of Circumventing System Policy and the Unacceptable Business Practices Policy. It had no logical explanation since we were spinning the same thing on all the accounts and only 2 got banned, but that’s Facebook!
We work for the long term, so we learned from these losses and tried to stick more to all the FB policies and run less aggressive images, even if it cost us extra money.
We were able to achieve about a 30% ROI or 1.3 ROAS, which is acceptable to us. After a month of testing and a month of spinning off optimized ads, we were able to earn $15k in net profit. It’s a great vertical that will last forever, especially now considering the covid situation in the States.
Goal: create profitable campaigns and gain insight into the vertical
Offer: contact Converting Team for an offerer (we’ve tested many offers and this one was a winner for us)
Rate: Revshare – average CPL around $11
Results: we’ve been spinning this offer for several months now (and continue to spin it), average ROI is around 30%.