Finance products and Facebook Ads (11)
Hi guys,
until now I am "selling" bank account with organic traffic from google using niche websites. These bank accounts are free of charge for customers and the payout is about 35-45$. It is Pay per Sale, which means in this case that I get the comission after a customer fills out an online form, prints it out, goes to a or post office to prove his identity and the bank accepts the application. The Storno Rate is about 30-40%, that means that I get more or less 25$ on average per application with SEO traffic. Now, I would like to scale this with paid traffic and Facebook is my first idea, as targeting seems to be easy. This leads me to 3 questions at first.
- In Zenos guide financial products are not mentioned as a vertical to avoid or to go. Would you guys think, that I am on risk to loose my account with these kind of products?
- 30 € are quite a high payout, compared to the 1-3$ payouts recommended to newbies in several threads here. As far as I understood this rule, it is set, because a high payout reflects, that it is more difficuIt to convert. I am not sure, if this rule applies here too, as the product is free. What do you think?
- I am new to paid traffic, but have several years experience with SEO traffic in combination with Affiliate offers. I pretty much know the bank products available, advantages, disadvantages, brand awareness, which converts best in different angles and so on. My budget to test this out, would be 6.000 $. Would you give it a try with Facebook or would you recommend to choose a different traffic source or different payout offers at first?
Cheers and thanks in advance
Caramba
Why not retarget your traffic hitting your SEO site?
Basic idea, is you use a pixel to capture the people who go to your website, and then show ads on facebook only to the people who visited your website.
Originally Posted by caramba
A high payout reflects many things, not just difficulty in converting. First and foremost, it represents a high value of a new customer. Unless the bank believed that they will generate on average more than $35-$45 of profit from that consumer, it would be foolish for them to pay you such an amount for the conversion.
That said, a bank account application WILL be much harder to convert than a game download. Just think of the conversion flow. For a game download, user clicks on a link, gets directed to App store, clicks on download, that's it. This can all happen in less than 30 seconds. For a bank account approval, as you mention, the "customer fills out an online form, prints it out, goes to a or post office to prove his identity and the bank accepts the application." That is a LOT of things that need to happen before you get paid.
Unfortunately, "cmdeal's" points are backed up by raw data as well.
I've not found anyone running a really successful bank offer on FB.
If you're thinking about or looking a for a new bank account, you really wouldn't be on facebook doing it.. money to be burnt right there.
Your seo works, because people use search engines for information on such topics. Not a social network.
If anything I would suggest searching for a list of money saving forums, or places people congregate to discuss financial problems etc.. and either try get a banner directly on those, or PPV.. but PPV for that would be low volume imo.
Thanks a lot for your advices.. I was thinking the same, but were hoping that you guys would say it is a question of angle. For example: "Your bank is ripping you off with drawing credits? We compare 5 bank acounts with unbelievable cheap drawing credits."
I unterstand your points and should try my first campaigns with another more entertaining vertical and cheaper payouts. But also I will try out the advice from jennatalia with retargeting on a small daily budget. Thanks for that advice. I never thought about it, as it sound to complicated and I am not sure how much the conversion could increase. Any ideas?
You can definitely make high value products work on Facebook, but it is probably not a beginner's game.
As I would like to test the retargeting approach, I installed the Facebook-pixel on one of my SEO-Websites and built a custom audience only from the money pages on this website. So far I got 300 people in my custom audience, which is 100 per day. Compared to normal campaigns where you guys are targeting minimum xxx.xxx people, my number is very low. At what size of the custom audience would you start to send them Ads? Does it make sense with low x.xxx numbers? And what daily budget should I start with for such a small group?
It is not custom audiences you are looking for, it is lookalike audiences, ideally against those people who have actually CONVERTED on your SEO pages and for whom you have gotten paid.
These are two completely different things.
Ah, ok! Now it makes a lot more sense with my small audience. Thanks!
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