Case Study: Nelnet Bank achieves 11,539 MQLs and improved lead quality with Ervin & Smith’s agile SEM strategy

Nelnet Bank generated 11,539 MQLs with Ervin & Smith

The customer, Nelnet Bank, a private student loan provider, faced the challenge of generating 11,000 marketing-qualified leads during the peak lending season under a strict target CPA. Their challenges included mistrust from previous failed campaigns, flawed assumptions on lead quality, intense competition, brand confusion, and fair lending restrictions that prevented demographic targeting. They partnered with the vendor Ervin & Smith on a Search Engine Marketing (SEM) campaign.

Ervin & Smith implemented a dual-track SEM strategy using core campaigns and Performance Max to manage both lead volume and quality. Through data integration, agile budget reallocation, keyword refinement, and transparent collaboration, the campaign successfully generated 11,539 MQLs five months ahead of schedule while achieving the target CPA. The results also included a 44% boost in site traffic and a 40% increase in lead quality, rebuilding leadership confidence in marketing.

Nelnet Bank