Physical Gold is one of the leading online precious metal dealers in the UK. Based in London, they specialise in helping investors diversify their portfolios.
Established in 2008 by financial expert Dan Fisher, Physical Gold has built up a reputation in the market as being a trusted and knowledgeable source for all things gold and silver. Regularly featured in the press for their insights and research, their accreditations include membership of ‘The National Association of Pension Funds’ and ‘The Institute of Financial Planners’.
We’ve been working with Physical Gold for nearly two years on various projects, the most recent of which involved delivering an eCommerce website. The site was designed to both capture leads from downloadable assets, as well as driving direct eCommerce sales. The eCommerce sales are dynamically priced to reflect up-to-the-minute pricing for gold and silver.
For each downloadable asset (which included guides to buying gold and insight pieces) we developed dedicated landing pages and a complex bespoke email lead nurturing program. These automated programmes built up the client’s connection to Physical Gold and increased the likelihood of the client placing an order.
Their main avenue of advertising was via Google Adwords where they then sent people directly to these landing pages to download the guides. Adwords was their highest volume traffic channel, alongside SEO.
Physical Gold approached us with a need to increase leads for a lower cost. While they received a great amount of organic and paid website traffic, they wanted to know if they could increase the amount of leads they were generating with an improved cost per lead.
While effective, we knew that Google Adwords was always going to be the more expensive option when it came to cost per lead. So we decided to implement a different solution.
We did our research and knew that Physical Gold had a really engaged Facebook audience already. Our experience on Facebook meant that we knew the type of targeting Facebook offered would be perfect for Physical Gold’s audience.
Our campaign centered around three pieces of content. ‘The insider's guide to gold’, ‘The 7 crucial considerations before you buy gold and silver’ and an interactive ‘Take the test’ piece of content, which encouraged people to test their finances against future market fluctuations.
Before this content could be created, however, our first step was to really get a picture of Physical Gold’s audience. We did this via our persona creation process, where we ascertained the exact thinking and personality of the average Physical Gold client.
From these personas we then accurately built audiences into our advertising campaigns and created content which we knew they would care about.
Our next step was to decide which sort of advert we wanted to run on Facebook. The overall objective was to gain more leads. From previous experience we found that Facebook lead generation adverts work incredibly well for this objective. Lead generation ads keep the whole sign up process within Facebook and auto fill out the data fields. Conversion rates can be higher because it doesn’t take up a huge amount of time for a user to sign up. The exception to this was the ‘take the test’ content, which relied on sending users to the Physical Gold website.
We were pretty confident, with our narrow persona targeting, that the level and quality of the leads would be high.
From our persona research we were able to create 4 advert sets that reflected Physical Gold’s ideal client. One of these sets was a remarketing audience which we built from Physical Gold’s website and database.
Step 3 was to make sure that the advert creatives were relevant, and matched our persona’s thinking. We created a variety of different adverts for each advert set including using suitable imagery that would catch the user's eye and match the messaging. We found that hi-res pictures of gold and silver earned the most clicks, along with simple concise messaging.
The final step was to build the lead capture form within the advert. The great thing about Facebook lead forms is that you can add a concept card at the start which shows off key points about the guide and what the user will be signing up for. Next came adding the data fields we wanted to capture. The client wanted us to capture email addresses and more importantly phone numbers.
What were the results?
We were set a budget of £600 to use over a month with the challenge of getting the best leads for the lowest cost per lead. The client had specified that they would be happy with 120 by the end of the month.
By the end of the month we had generated 171 new leads at an average £3.50 a lead!
There were changes to the campaign as we went along, which maximised our results. The ‘take the test’ content, for example, proved to be the lowest performing of the three types of content. With the other two campaigns performing well, we switched off this campaign in the early days of the project to maximise returns.
We were also able to identify that people were much more interested in the ‘7 crucial considerations guide’ rather than the ‘Insiders guide’. We were also able to optimise our advert creatives and use the highest performing ones going forward. We’d also begun to work on new audiences to see if we could widen the reach whilst retaining a focused audience.
This sort of campaign is a great example of how emerging digital channels are brilliant alternatives and in some ways better alternatives to standard search and display ads. We also brought our full integrated approach to bear on the campaign. Without the initial strategy, persona creation and tactics across website, audiences, advertising platforms, copy and design, we don’t think the same result would have been achieved.