Embracing Modern Search for Tesco Bank

Overview

8 Million Stories have been working with Tesco Bank since January 2020 to oversee the management of their PPC and SEO campaigns. While PPC performance within the home insurance market has been consistently strong, the team identified new opportunities to gain more market share from price comparison sites.

Client

Tesco Bank

Sector

Finance

When

2023

Solutions

  • Data & Analytics
  • Paid Media

Challenge

While PPC performance with the home insurance market has been consistently strong, the team identified various opportunities to try and gain more of a market share from price comparison sites who had traditionally dominated the upper echelons of Google's 1st page.

The basis of this opportunity was the perception that many of these sites were not adopting elements of the Digital Maturity Framework, which is at the heart of Google's modern search best practice.
Paid Google results for the query "combine home insurance" including Tesco.

Solution

To compete with price comparison sites, a strong, high performing foundation was required to scale. We used the digital maturity framework as a basis for initial decisions on how to remodel our current setup to take on this challenge.

Our optimisation work looked at the following areas:

  • 01.Restructuring the current account from a highly granular architecture to one which was more flexible, creating an environment for optimum machine learning.
  • 02.Test and Learn smart bidding strategy
  • 03.Ad copy A/B testing
  • 04.Competitor Trend Analysis. We analysed the previous year's data for trends in performance. Looking at each advertiser to plot where activity ebbs and flows, whether that be seasonally, day to day or on a search intent level basis.
Three mobile screens display Tesco Bank's website, including a home insurance quote page, a Google search result ad, and menu product options.

Results

  • Sales increased 147% YoY
  • CPS reduced 24% YoY
  • Conversion rate increased 63%
  • CTR increased 85% YoY
Nominated for Best Finance PPC:UK Search Awards logo