Does your business have a hole in its local customer acquisition strategy?

by Chris Ransick

I recently spent some time auditing Albuquerque's local banks and credit unions using local Google search and looking at their use of branch location pages and UTM codes, with some surprising results.

What is a branch location page?

A branch location page is a unique business web page created for a specific site, location, or branch. It should display the branch's interior and exterior images, the correct address, phone and website information, hours, services offered, and staff information. Quite honestly, according to local SEO practices, branch pages should be content-rich and designed to help in customer acquisition.

What are UTM codes

UTM stands for "Urchin Traffic Monitor" and is a small snippet of code added at the end of a URL to track the source, medium, and campaign name of a marketing effort enabling companies to understand the performance of campaigns and content. If you look closely at pretty much everything you click on the internet, you will find UTM codes tracking the request's source.

UTM Code example: 
https://www.bigvolcanocreative.com/? utm_source=GMB_medium=web_campaign=3400CoorsABQ

Methodology

Using Google and the search term: "Banks in Albuquerque." I then clicked the website link on each of the first 150 Bank/credit union local Google My Business (GMB) results to understand:
1) if the bank/CU branch had a unique branch location page
2) if there was a UTM code attached to the web address to track the click-through source.

Results

- Number of unique banks/CUs: 24
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Number of banks/CUs with individual branch location pages: 11
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Number of banks/CUs using UTM codes: 4
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Of the banks using UTM codes, 3 are national brands, i.e., BoA, Wells Fargo, and US Bank
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The banks/CUs that had individual branch location pages owned the first 60 Google results

Findings

The three main findings from my audit are:
1) Banks/CUs that employ branch location pages outperformed the branches that didn't in local Google search.
2) Banks with the most robust branch location page did better than banks whose branch location page just basic information.
3) The vast number of financial institutions are not tracking local click-throughs from local Google searches.

Opportunity

After reviewing the results, it's evident that there is an ample opportunity for many financial institutions to improve their local search results. Since many potential customers only consider the first page of a local Google search, it would behoove all banks/CUs to maximize their digital footprint by providing robust branch location pages and work on their ranking. I was also stunned that most banks are not tracking GMB click-throughs to their website using UTM codes, which would seem to be a large hole in many new customer acquisition strategies.

While my audit was looking at local banking institutions, my findings apply to most businesses. To find out how your business is competing locally, Big Volcano Creative & Digital Marketing offers a complimentary local digital marketing analysis. We review your business website, Google My Business implementation, ranking, and digital footprint. Big Volcano Creative & digital Marketing will share their findings; every issue and concern found along with suggesting fixes, both in detail and summarized by priority level. To find out more, contact Chris at cransick@bigvolcanocreative.com.

Get in Touch

Big Volcano Creative & Digital Marketing
3642 Vista Grande Drive North West
Albuquerque, NM 87120
505-226-1341
cransick@bigvolcanocreative.com

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