Google Financial Services Regulations for AdWords PPC

Google has recently announced that it will be updating the Google Ads Financial Products and Services policy in September 2021. The full policy will be published on the 30th of August 2021 with enforcement starting to take place seven days later on September the 7th 

Its focus will be introducing new verification requirements for Financial Services advertisements targeting the UK. This translates to stricter regulations on AdWords and in turn, mean the Pay Per Click strategy of your business needs reviewing.   

The measures put in place by Google should overall be beneficial for businesses and users alike, as only FCA regulated providers will be able to advertise. The quality of adverts and companies shown to users will massively improve, with less likelihood of people becoming the victim of financial scams. 

What You Should Know  

Advertisers that have not completed the verification process by the time of enforcement will no longer be able to show financial services ads of any kind. These do include any UK users who appear to be seeking financial services.  

Read More About The Upcoming Changes Here. 

How Does the Verification Process Work? 

The verification process involves companies wishing to advertise their services to demonstrate that they are authorised by the UK Financial Conduct Authority or qualify for one of the exemptions. 

Advertisers can initiate the verification process themselves here, or in some cases, Google may instruct you to do so for your Ads to continue to show.   

The verification form requires your Google Ads account ID, business details, domains affected, and warranty that approves financial promotions that the third party runs.  

The two-step process must be completed within the allocated time frame to prevent their accounts from being paused. You can learn more about UK Financial Services Verification Here 

Will It Suspend My AdWords Account? 

It is key to review this policy update if your company uses Google PPC to advertise financial services of any kind. Your external marketing agency will be able to help determine and alert you as to whether your ads fall within the scope of the policy.  

If they do, you must complete the verification process as mentioned above or remove the ads that violate the policy.  

Violations of the policy mean that a warning will be issued by Google. If action is not taken in 7 days, you risk your account being suspended.  

Please contact Chameleon today if you are worried about the upcoming changes, we are here to help. Book a meeting with us to discuss how the impacts your PPC strategy moving forwards.  

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What is PPC?

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PPC is an abbreviation for pay per click, also known as Google AdWords, which is a way of advertising your business on search engines. As it states in the name, you literally pay per click you have to your website, from the advertisements. Essentially, it is a method to generate traffic to your site, rather than earning them organically.
However, we have also found that clients who use both PPC and SEO seem to have the most effective marketing campaigns as those who don’t convert straight away through pay per click; then find the company later by organic search.

What is Google AdWords?

Google AdWords enables businesses to create ads within their platform and publish these ads to appear in Google’s search engine results.
In simple terms, it operates by bidding on keywords relevant for your business and you pay for each click your business receives from the advertisements. The cost of every bid can differentiate depending on the keyword you are bidding on. As well, the ad may or may not be shown for every search. This is due to the fact that whether the ad is shown is based on a range of factors. These factors include the quality and relevance of keywords and ad campaigns, also the size of the keyword bids.

Additionally, the companies whose ads appear at the top of the page are based on their ad rank. This is a measure which is calculated by two contributing factors including the cost per click and quality score. Once the successful companies have been chosen, the system then allows them to display adverts to potential customers at a cost.

Successful Google Ad Campaigns

Conducting your digital marketing through Google ads will be valuable for you as a business due to the fact that Google gets large amounts of traffic and therefore will deliver the impressions and clicks to your ads.

The following factors are what we have found to be the contributing factors to a successful PPC campaign:

  • Keyword relevance
  • Landing page quality
  • Quality score
  • Creativity

There are many things to consider when setting up and maintaining a Google ad campaign. If you need any support with this, Chameleon is happy to help. We are a leading paid search agency with over 15 years’ experience, with results driven by our analysis and optimisations, reducing your monthly spend with Google and increasing the amount of conversions.
Contact us today to speak with one of our Google Adwords specialists.

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Negative keywords help your ads reach the most interested customers, which can lead to reduced costs and an increased return on investment.