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Driving customer acquisitions through paid search

  Article , Tech and telecom , Success stories

Verivox uses Remarketing with Bing Ads to boost performance

Putting the customer first

Verivox is one of the largest consumer portals in Germany and its mission is clear: to be the one-stop shop for consumers looking for tariffs within various household and other fields. Founded in 1998, Verivox launched its website in 1999 originally as an energy and telecoms comparison portal and has been growing rapidly ever since.

“Basically, whenever Customer Acquisition Services can be compared online, we’ll always consider that our particular field will be of interest,” says Thomas Liebau, who leads the Performance Marketing team.

In 2012, under CEO Chris Öhlund, the company significantly expanded its product portfolio and now offers a full spectrum of comparisons for electricity and gas, internet and mobile communications, finance and insurance, travel, cars and commission-free property purchases.

What makes Verivox stand out in a crowded marketplace is that it puts the consumer right at the heart of the service and gives customers greater choice. It also has a quality control system, which checks the providers and ensures that only the best make it on to the site.

“It’s not necessarily that customers are looking for the cheapest solution. They’re often looking for the most suitable one,” says Liebau. “Our tariff calculator is very flexible. For example, you can indicate that you prefer ‘green’ electricity, a local or regional supplier, the highest rated supplier, or simply that you prefer the cheapest option. There are a vast number of options for the customer to choose from.”

“Basically, whenever Customer Acquisition Services can be compared online we’ll always consider that our particular field will be of interest.”

— Thomas Liebau, Head of Performance Marketing

Paid search improving results

headshot of Steven Drühl, marketing manager

Steven Drühl, senior online marketing manager at Verivox

One of Verivox’s biggest challenges is making it as easy as possible for customers to switch between energy providers. “It’s a very sensitive area — you don’t switch your energy supplier lightly,” says Liebau. There are many questions consumers ask in relation to supply and security. It’s also time consuming as it’s not a one-click purchase. We do our very best to make things as painless as possible for the consumer.” 

Another major challenge comes from paid search, as the team tries to maximize conversion rates to meet Verivox’s ambitious growth targets. Since it began using Bing Ads in June 2012, the team has seen an impressive 50% lower cost per click and 74% higher conversion rates. 

“Bing Ads is a great alternative to other customer acquisition techniques,” says Steven Drühl, senior online marketing manager at Verivox. 

“Paid search plays a large part in our marketing mix, especially for new customer acquisitions. Strong brand presence is needed in both paid and organic search, which is why we also run TV adverts,” adds Drühl. 

The team targets new customers by focusing on generic keywords rather than long-tail terms. 

“Consumers are often searching for very generic terms such as energy or credit comparison and that’s why paid search is so crucial to us,” explains Liebau.

Getting a second chance with remarketing

Verivox Data Table

Verivox Data Table

Remarketing in Paid Search is a real stand out feature for the team at Verivox, according to Liebau. “Being able to address customers a second time, when they’ve already searched on Bing, is a great opportunity,” he says. “It’s a high performing feature for us, which we have been using since day one. It really helps us to win over customers that might have been undecided during their first or second search.”

Verivox started using Remarketing in Paid Search by targeting previous visitors as a means of testing overall functionality. It worked well, so the company quickly adopted it for specific user groups on promising leads. This strategy proved enormously successful and provided a real boost to conversion rates and ROI. Verivox even lowered the cost per aquistion (CPA) by 18%.

The company is now heavily adopting Remarketing in Paid Search for tailored campaigns to address customers more specifically and selectively, including those that haven’t used the portal in as much as 10, 30 or even 60 days. Verivox has created individual paid search campaigns with tailored ad copy to address those undetermined users, while building a custom keyword set from learnings of the general remarketing assets.

“Remarketing in Paid Search with Bing Ads gives us the option to turn generic searchers into converters, meaning that the marketing costs were utilized most effectively!” explains Liebau.

Why Bing Ads is the best alternative in the German market

Thomas Liebau

Thomas Liebau, head of performance marketing at Verivox.

Liebau loves the improvements that have been made to the Bing Ads interface and its various tools in terms of user friendliness and usability. “You can now act much faster, and it’s a lot clearer,” he says. Importing campaigns from other search engines can be done in just a few simple steps, meaning you can save significant amounts of time, especially when importing larger accounts.”

What the team really likes to see is that the Bing Network is continually expanding its reach. It has nearly 10% market share in Germany, almost 20% in the UK and 30% in the US.

Liebau says it best when he concludes: “Bing is clearly the number one alternative in Germany.” His team looks forward to continuing its growth alongside that of Bing. Isn’t it time you switched your search efforts to Bing Ads?

See a summary

Download or save an infographic to discover how Verivox used Bing Ads to increase traffic to its platform and control the quality of its incoming site activity.

  Download the infographic