Harrisdirect found 9 percent of its new accounts using Google advertising for search and content pages.
| Harrisdirect is a leading provider of direct investing and advisory services to informed investors with long-term financial goals, as well as third-party brokerage services for institutions, including many of the nation's largest 401(k) plan providers. Harrisdirect is part of Harris, an integrated financial service organization that provides more than1.5 million personal, business, corporate and institutional clients with banking, lending, investing, financial planning, trust administration, portfolio management, family office and wealth transfer services. Approach Online financial sites must work seamlessly so existing clients can easily manage their accounts, and they must be compelling enough for prospects to join. In a highly competitive environment, Harrisdirect's business goal is to gain online clients who will choose Harrisdirect above all others for its variety of investing and money management tools. It was this goal that led Eric Frenchman, vice president of online advertising, to test Google AdWords™ to attract qualified leads. This was after running a gamut of other online advertising, including streaming commercials, graphical roadblocks and animations, and floating and fixed banners. In December 2002, the Harrisdirect team opened an AdWords account with a small number of keywords in hopes of generating new accounts at what Frenchman describes as "an allowable cost." More recently, Frenchman added Google contextual advertising into the mix. "We started using it because it gave us the ability to advertise on sites that we may not normally reach. It opened a new channel for us." Results Frenchman says Harrisdirect quickly saw two important results from the AdWords program: many more qualified leads – people actively searching for a financial services partner – and a high conversion rate as visitors became account-holders. "People found us as they were actively looking for financial services," he says. "This is nothing like a passive banner ad on a financial site. AdWords ads foster active involvement by real clients." What's more, Frenchman says, adding contextual advertising has been effective. "In June 2004, 16 percent of my clicks were from content page ads, and 83 percent of my impressions. My conversion rate was right on target," he notes. "We hit our Google cost per account targets and we have all our campaigns in content." He adds that the contextual approach has another benefit: "It reminds me of an affiliate program in a good way: I pay Google to do the deals with the sites, without having to talk to all those thousands of sites. I like that Google has negotiated the relationships for us." The success indicator Harrisdirect uses is acquisition cost per account, and Frenchman confirms that Google "has met or exceeded our criteria from the outset." In fact, he notes, "Google drives about 9 percent of new accounts Harrisdirect generates from online advertising. And Google users clicking on our ads convert to new accounts at an 8 percent higher rate than our other advertising partners," he says, "and that translates to very good ROI for us." With the help of his Google account team, which Frenchman describes as "responsive, proactive, and interested in helping us reach our goals," he is also taking advantage of new features such as image ads. "When advertisers first started doing search, they used banners. Then that went away in favor of text ads," he recalls. "Now the fact that Google can offer banners that have the targeting of search, but across many pages on the Internet, gets me the best of both worlds. I am a big fan of the image ads product. It moves us in the right direction, and I am excited to be testing it." Like most businesses, Harrisdirect wishes to partner with services that contribute the most to its success. "We direct our advertising dollars based upon results," says Frenchman, "and right now Google is generating great results." About Google AdWords Google AdWords is currently used by thousands of businesses worldwide to gain new customers in a cost-effective way. AdWords uses keywords to precisely target ad delivery to web users seeking information about a particular product or service. The program is based on cost-per-click (CPC) pricing, so advertisers only pay when an ad is clicked on. Advertisers can take advantage of an extremely broad distribution network, and choose the level of support and spending appropriate for their business. For more information on launching your own campaign or getting expert help, visit http://adwords.google.com. Would you like to share your Google AdWords success story with us? We'd love to hear from you! Securities offered through Harrisdirect LLC ("Harrisdirect"), registered broker/dealer, SEC-registered investment adviser, member, NASD/SIPC. Insurance and annuities offered through Harris Bancorp Insurance Services, Inc. ("HBIS"). Harrisdirect and HBIS are wholly owned subsidiaries of Harris Financial Corp. Products offered are NOT A DEPOSIT – NOT INSURED BY THE FDIC OR ANY FEDERAL GOVERNMENT AGENCY – NOT GUARANTEED BY ANY BANK – MAY LOSE VALUE. Harris is a trademark used by various financial service providers. Return to Financial Services overview |
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