Google Ads vs Facebook Ads for Financial Services
Not sure which advertising platform will generate better leads for your financial services business? We break down the costs, ROI, and best use cases for both Google Ads and Facebook Ads specifically for the financial services industry in New Zealand.
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| Factor | Google Ads | Facebook Ads |
|---|---|---|
| Cost Per Lead | $55-$130 | $28-$75 |
| Best For | High-intent searches, immediate needs | Awareness, visual content, demographics |
| Lead Quality | Higher intent, faster conversion | Lower intent, longer nurture |
| Time to Results | 3-7 days | 7-14 days |
| Targeting Type | Keywords, intent, location | Demographics, interests, behaviors |
| Creative Format | Text-focused, limited visuals | Image/video-heavy, visual storytelling |
When Google Ads Works Best for Financial Services
Google Ads shines when you need to capture customers who are actively searching for financial services services right now. Here's when it's your best choice:
-
Tax preparation needs -
Mortgage broker searches -
Financial planning searches -
Retirement planning queries
Pros & Cons
- • Active searchers
- • Specific service needs
- • Higher conversion intent
- • Local targeting
- • Compliance complexity
- • Higher costs
- • Limited creative
- • Strict policies
Pros & Cons
- • Life event targeting
- • Educational approach
- • Trust building
- • Demographic precision
- • Longer sales cycles
- • Compliance restrictions
- • Lower immediate intent
- • More touchpoints needed
When Facebook Ads Works Best for Financial Services
Facebook Ads excels at reaching your ideal customers before they're actively searching, building awareness, and showcasing your work visually. Here's when to use it:
-
Life event targeting (marriage, retirement) -
Investment education content -
KiwiSaver optimization campaigns -
First home buyer education
Cost Comparison for Financial Services
Understanding the real costs and ROI expectations for each platform helps you make smarter budget decisions.
Google Ads
Facebook Ads
Our Recommendation for Financial Services
Financial services should split budget 55/45 (Google/Facebook): Use Google Ads for immediate needs like tax prep and mortgage applications, Facebook Ads for life event targeting, educational content, and building long-term client relationships.
Real Financial Services Results
See actual results from financial services businesses using each platform
Google Ads
Mortgage broker: 38 applications at $72/lead during first home buyer campaign
Facebook Ads
Financial planner: 91 retirement planning leads at $42/lead, 23 became clients
Trusted by Financial Services Businesses
Don't just take our word for it. Hear from businesses we've helped grow.
"I have been working with Jason from Lucid Media recently on some projects and his knowledge and work ethic is always top notch. I have every confidence that Jason will always deliver. He goes above and beyond to make sure that all aspects are taken care of in a professional and timely manner. It is a pleasure to work with him and his team and I look forward to future ongoing partnership with Lucid. A big thank you for your outstanding work Jason!"
"I had a call with Jason and was so impressed by how in-depth it was. He really listened, understood where I'm at, and gave me a clear action plan that I can actually use. It was practical, straightforward, and made me feel confident moving forward with my ads. I couldn't recommend working with him enough."
"Jason gets the results he says he will. His approach to paid ads is methodical and data-driven. He doesn't just run campaigns and hope for the best. He analyses everything, optimises constantly, and delivers real leads that convert into paying customers."
"The team at Lucid has transformed how we generate leads online. Our social media engagement has skyrocketed and more importantly, we're getting consistent enquiries from people who are actually ready to buy. The ROI speaks for itself."
Common Questions About Google Ads vs Facebook Ads
Which is better for financial services: Google Ads or Facebook Ads?
It depends on your goals. Google Ads works better for capturing high-intent customers actively searching for financial services services. Facebook Ads excels at building awareness, showcasing visual content, and reaching specific demographics. Most financial services businesses benefit from using both platforms strategically.
What's the cost difference between Google Ads and Facebook Ads for financial services?
For financial services businesses in New Zealand, Google Ads typically costs $55-$130 per lead, while Facebook Ads averages $28-$75 per lead. However, Google leads often have higher conversion rates due to greater purchase intent.
Can I run both Google Ads and Facebook Ads simultaneously?
Yes, and we recommend it! Running both platforms allows you to capture demand at different stages of the buyer journey. We can help you allocate budget effectively between platforms based on your financial services business goals.
How long does it take to see results from each platform?
Google Ads typically generates leads faster (3-7 days) because you're targeting active searchers. Facebook Ads may take 7-14 days as the algorithm learns and optimizes. Both platforms improve performance over time with proper management.
Which platform has better targeting for financial services?
Google Ads targets based on search intent and keywords, great for capturing active demand. Facebook Ads targets based on demographics, interests, and behaviors, excellent for reaching your ideal financial services customer profile. Each has unique strengths.
Do financial services businesses need both platforms?
Financial services should split budget 55/45 (Google/Facebook): Use Google Ads for immediate needs like tax prep and mortgage applications, Facebook Ads for life event targeting, educational content, and building long-term client relationships.
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