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5 Updated Google Ads Rules for Finance Companies
When you help the public with their hard-earned money, there are a special set of rules to follow. You have an internal compliance team responsible for ensuring that all marketing materials accurately portray the products and services you offer. When it comes to Google Ads and search platforms, it’s important to understand how to apply the rules of finance marketing within the platforms. This ensures that you are compliant with federal and state guidelines as well as the desires of your internal compliance department.
Let’s take a look at the 5 must-follow rules for finance companies. We use finance companies to encompass banks (regional banks and local banks), credit unions, and any institution that offers financial services to the public.
Rule #1: Geographic targeting (it isn’t just about what the platform limits).
In the past, platforms such as Google allowed financial institutions to use zip code targeting. Google has now updated its policy so that financial institutions cannot use zip code targeting. This policy was, according to Google, to better protect user’s privacy and prevent discrimination in financial product offerings.
All finance marketers know redlining is something they never want to do. The DOJ is further scrutinizing banks on practices, especially those related to mortgages, and how banks do their lending.
You might be reading this going, “I am fully aware of this and haven’t allowed my search teams to do zip code targeting for years”. That’s terrific, and we agree. The challenge we have seen by well-meaning institutions is their implementation of radius targeting.
Say a financial institution has 23 branches spread across a geographic area. Each of these geographic areas is likely to have different economic environments. A bank could also have data that suggests that in certain branches people drive farther to get to their bank than other densely populated areas. They could then choose to use different radius targeting around those branches.
We would advise against using different radius targeting as it could be seen, unintentionally, as favoring one area over another. We would recommend consistent radius targeting. You might select 3 miles, 5 miles, or 10 miles based on business decisions. Consistency is key, so that you treat all areas and individuals within that area the same.
Rule #2: Ad personalization based on status.
Google updated its policy at the end of February 2024 to prohibit targeting on what Google refers to as “sensitive interest categories.” Most financial markets would already avoid targeting special categories such as age, gender, and zip code.
One personalization that financial marketers would want to dig into with their search teams, and other platforms for that matter, is marital status. There may have been ads that had this category as an audience type of target vs observation where they could have been more inclined to take out a mortgage or maybe open a joint account.
We recommend evaluating your audience set-ups within the Google Ads platform and all search platforms to make sure you are compliant.
Rule #3: “Compliance-proof” your account.
When we say “compliance-proof” your account, we want to stress that the goal is to build an account that complies with standards set by your compliance team. It should also be set up in a manner that if compliance has a question, you can answer the question within one business day.
We recommend that you take the following steps to start:
While the above is not a complete list of items, it is a good place to start.
Rule #4: Know which product you are marketing and get the customer to that part of your site.
This is best practice for all paid search efforts: however, the nuances of financial products offerings can be confusing to the customer.
For example, if you had the following queries:
There are financial institutions that may send all of this traffic to the homepage of their website, but that isn’t a complete user journey for your targeted audience.
Instead, we recommend this approach:
Query
Recommended Landing Page
“Bank Name”
Home page
“Bank Name Checking”
Page which outlines checking options
“Bank Name HELOC”
Page which says what a HELOC is & how to apply
“Bank Name small business loan”
Small business area of the website
When you know what the prospect is looking for, help them with their journey by allowing them to land as close to the information as possible.
Rule #5: Monitor your account for being flagged for product types.
This sounds obvious, but there are times when Google incorrectly flags a product. We have had financial services clients in the past who launched a new product and it was incorrectly flagged by Google. When Google flags a set of keywords, ads, or landing pages, it limits the reach and also puts the entire account into a place where it could face a more severe violation (such as having the account turned off).
Products, such as personal loans, are closely monitored by Google. This is because there are companies that, in the past, have been predatory in how they treat their customers. It’s paramount that financial services companies developing a new product or service communicate plainly to clients.
Next Step for Financial Marketers
The next step is to have a conversation with your search team to make sure there are checks and balances in place to keep your account performing at capacity. You can also reach out to us here at Mindgruve and one of our team members who specializes in financial services will be happy to help and evaluate the current status of your Google Ads account.
Interested in learning more? Get in touch with our Thought Leaders today.
Unveiling CTV Trends, Challenges, and Future Outlooks
Step into the world of Connected TV (CTV), where innovation meets entertainment in an ever-evolving digital landscape. CTV stands at the forefront of growth and opportunity as streaming services continue to reshape the way we consume media, presenting a myriad of trends, challenges, and exciting future prospects. In this blog we will peer into the future of CTV.
In the rapidly evolving landscape of digital media consumption, understanding the distinction between Connected TV (CTV) and Over-the-Top (OTT) platforms is crucial for businesses and consumers alike as they navigate the intricacies of modern entertainment delivery and advertising strategies.
Defining CTV and OTT
CTV is any television set that can be connected to the internet, allowing users to access streaming video content and other online services directly through their television sets. Think Smart TVs and gaming consoles.
OTT refers to the delivery of film and TV content over the internet, bypassing traditional cable, satellite, or broadcast television platforms. Think of app or content distribution platforms such as Amazon Prime, Netflix, and Hulu. Over-the-top (OTT) streaming apps or content can be viewed across mobile, tablet, and desktop/laptop devices in addition to connected TV devices (Smart TVs, gaming consoles, streaming sticks, etc.).
While CTV is hardware, OTT is software.
The future of CTV looks bright
CTV had a 10.9% growth in 2023 and is expected to grow by 13.8% in 2024 according to forecasts, yet we’re still in a space where demand hasn’t caught up with supply. The potential for CTV growth within media is huge! Several factors contribute to this growth:
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As technology continues to evolve and consumer preferences evolve, CTV is poised to play an increasingly significant role in shaping the future of entertainment consumption.
Challenges with CTV
In conclusion, the landscape of Connected TV (CTV) is rapidly evolving, offering both opportunities and challenges for advertisers. With increasing consumer adoption, shifting advertising trends, and technological advancements, CTV holds significant potential for growth within the media.
Interested in learning more? Get in touch with our Thought Leaders today.
Women Shaping the Future of Marketing: A Q&A With Leaders at Mindgruve
In honor of Women’s History Month, Mindgruve is proud to feature insights from our female leaders shaping the future of marketing and innovation. Through their stories, we discover the challenges, motivations, and advice that have guided them on their path to leadership. Join us as we delve into the experiences of Rachel Gigli Carrieri and Ellyn Savage, two prominent figures at Mindgruve, who share their journey and wisdom for aspiring leaders.
Q&A With Rachel Gigli Carrieri – Vice President, Client Services
Rachel manages the agency’s account strategy team. With over 17 years of integrated marketing and strategy experience, Rachel’s expertise focuses on the integration and execution of paid, owned, and earned channels for consumer and B2B brands. Prior to Mindgruve, Rachel worked on both the client-side and agency-side for some of the world’s top marketing agencies and global brands, including BMW, Petco, T-Mobile, El Pollo Loco, CBRE, and the University of California. Rachel is a graduate of the University of Bath.
What core belief drives you to succeed?
“For me, working in advertising is more of a calling than a job. We can achieve great things, but consistency is key to success.”
What were some significant challenges you encountered on your path to leadership, particularly as a woman?
“Female leaders don't always encourage other women who are rising in the ranks. Competitiveness can get in the way of greatness. To overcome these kinds of challenges, I have joined, and even led, female employee resource groups where women can get together to talk about these issues and learn tools and approaches that will help them.”
Can you tell us about your journey and what inspired you to pursue leadership roles?
“Being a leader is not about a title. It is something you can have and demonstrate at any level. I have always been a leader and as I gain more experience, it has made sense that I lead a larger group with a larger set of responsibilities. It is not something I pursue. It unraveled naturally. Being an account leader is often about assuming ownership of any meeting you are in related to your account. It’s about taking ownership of the good and bad happenings on your account. The buck stops with the account leader.”
What advice would you give to young women aspiring to leadership roles?
“Don’t aspire to a leadership role. Find your calling, learn your craft, and keep getting better by leaning in, engaging in the work, and having a voice at the table.”
How can women navigate barriers and biases they may encounter in their career advancement?
“I frequently encounter what might be an unconscious bias towards the men in my peer group. For example, let’s say an all-male leadership team has been selected for a trip where it would also have made sense to include a fellow female leader. In this instance, it is fair to call out what you are seeing in a calm way that hopefully shines a light on the perceived situation while explaining the value you or your colleague would have brought.”
What does Women’s History Month mean to you personally?
“I use Women’s History Month to reflect on the female role models in my life.
“My wonderful mother is the ultimate entrepreneur. In addition to starting several successful small businesses throughout my childhood, she was supremely resourceful and could instantly take charge of any situation. I once got blocked from exiting Russia over bureaucratic nonsense around my exit visas. My mother tracked down the British ambassador, got him on the phone, and insisted he got me out of the country. This took her about 3 hours and this was pre-internet. The Embassy got me new flights and new visas within 24 hours thanks to my mother.
“Kristy Henning, HR Director at Mindgruve, is another phenomenal woman, mother, friend, and colleague who partners with me to shape the company culture here at Mindgruve and make working for this company something really special. Kristy goes beyond being a Human Resources leader by connecting personally with every employee and supporting the Executive team in how they mentor, coach, train, and direct their team members. She is a rock.”
Q&A With Ellyn Savage – Vice President, Media
Ellyn leads media strategies that help brands identify and acquire new customers. Drawing upon her deep experience in market research and consumer insights, Ellyn drives revenue growth by leveraging data to optimize client campaigns. She is considered one of the top omni-channel media experts in Cross-Platform Display, Social Media, and Video with extensive experience in TV, CTV, OOH, Print, and Radio. Prior to Mindgruve, Ellyn worked on Madison Avenue in New York City before moving to San Diego. Her past clients include Olive Garden, Mars, Inc., Martinelli’s, Procter & Gamble, Agilent Technologies, and Cars.com. Ellyn is a graduate of Penn State University.
What core belief drives you to succeed?
“I’m motivated by being considered trustworthy and not letting others down, which works well in a client services industry.”
What were some significant challenges you encountered on your path to leadership, particularly as a woman?
“I have thankfully not faced many roadblocks getting to my current position, and I've rarely asked for promotions outright. I’ve done my best to prove my value by going above and beyond, staying organized, and being proactive and thoughtful in everything I do.
“I’ve found that speaking my thoughts and asking questions in meetings to ensure I’m following was a great way to find my voice and become more confident early in my career.
“Many women, myself included, deal with imposter syndrome, which is self-doubt. Despite titles or recognition or any other outward success, this self-doubt is consistently there. Knowing it’s not something others notice helps.”
Can you tell us about your journey and what inspired you to pursue leadership roles?
“As the oldest of three girls, it’s been innate from the start that I would only be fully myself if I were in charge of something, whether that be directing the neighborhood play or leading a team.
“I've learned something from every manager I’ve had and from every challenging situation I’ve navigated as a manager and those all shape my style. Having worked with Mindgruve's President, Dan Hellbusch, I value his transparency, trust in me, empathy, and willingness to get in the weeds and help where needed. I strive to be the same for others.
“Over time, I’ve had to work to be more approachable. When I was a new manager years ago I would often get so engrossed in my work, it was frustrating to get interrupted. Now, I expect and welcome the interruptions as coaching is my number one priority.”
What advice would you give to young women aspiring to leadership roles?
“(1) Be adaptable. We need to flexibly adapt to constantly shifting circumstances while retaining equanimity. (2) Value feedback, knowing your perception is never the full story. (3) If you’re challenged and learning, you’re in the right place. (4) Attitude is everything.”
How can women navigate barriers and biases they may encounter in their career advancement?
“Have uncomfortable and direct conversations to avoid internalizing feelings of injustice. Practice by advocating for others often.”
What does Women’s History Month mean to you personally?
“I studied political science and have a strong sense of civic pride and respect for the women who advocated for gender equality early on, and I know the road to get to where we are today was a long slog and a mountain we’re still climbing. I feel it’s my responsibility to the women who came before me and my two young daughters to keep fighting the fight and not accepting the status quo.”
Conclusion
The stories of Rachel and Ellyn reflect the diverse pathways and challenges women face in leadership roles. Their insights not only celebrate their achievements but also serve as a beacon for aspiring female leaders. Mindgruve is committed to fostering an environment where women can thrive and lead, inspired by the lessons of those who pave the way during Women’s History Month and beyond.
James Earwicker a Finalist for San Diego Business Journal’s CFO of the Year Awards
For a fourth year James Earwicker, CFO of Mindgruve and Mindgruve Ventures, has been named a finalist for San Diego Business Journal’s (SDBJ) CFO of the Year Awards. This award recognizes financial executives who often work behind the scenes of their respective companies bolstering their success while positively impacting the community at large. Nominees come from various industries, including marketing, tech, real estate, manufacturing and defense, among others.
James is a versatile leader with more than 25 years of experience and expertise in financial management, business planning, sales management and business development. His leadership at both Mindgruve and Macarta has contributed to both companies being recognized on the Inc. 5000 list consecutively for the past four years. Widely recognized for identifying critical issues and implementing effective solutions, James’ expertise and thought leadership have made him an outstanding CFO at Mindgruve Holdings and Mindgruve Ventures.
Since assuming the role, James has implemented meaningful change at a rapid pace with the support of executive leadership. He’s been instrumental in training accounting staff to tighten and streamline processes while fostering engagement. For instance, he leveraged the cash collection cycle to substantially increase margins, which, combined with savings, yielded a 15% increase in bottom-line revenue and streamlined financial reporting for multiple entities. This enabled real-time, data-driven decision-making, driving a significantly positive impact on performance.
James is also committed to his community. He serves as a core adjunct professor in the School of Business Management at National University, teaching courses in business finance, corporate valuation and managerial accounting while mentoring students from varying backgrounds and professional levels. He volunteers at the local YMCA, Food Bank, and United Way. Additionally, James worked with Mindgruve’s corporate foundation to engage in targeted philanthropic efforts and was instrumental in building the foundation for a multi-year giving effort.
Before Mindgruve and Mindgruve Ventures, James served as Vice President at Wells Fargo Bank for nearly 24 years. He holds a BA in Physics and English from UC Santa Barbara and an MBA in Finance from San Diego State University.
As a testament to James’ contributions, our President, Dan Hellbusch, said that James’ expertise has been invaluable to Mindgruve. He’s a seasoned finance expert and a trusted leader in our company.