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PPC for monetary providers makes use of initiatives like search advertisements, show advertisements, and remarketing to drive extra leads and gross sales, whereas being conscious of regulatory compliance. Learn on to study 15 methods our staff makes use of on daily basis to assist our FinServ shoppers run profitable campaigns.
Right here, you’ll discover 15 suggestions for PPC for monetary providers:
- Establish key performance indicators (KPIs)
- Understand the regulations for financial ads
- Know the financial products Google Ads won’t accept
- Start paid search marketing slowly
- Harness the power of both SEO and PPC
- Prepare for higher cost per click (CPC)
- Know your audience targeting options
- Create original, compelling ad copy
- Refine your landing pages
- Leverage display advertising
- Research the competition
- Prioritize the user experience
- Test, adjust, and test again
- Create a lead-scoring system
- Add retargeting to your PPC ads
Pay-per-click (PPC) promoting boosts model consciousness, attracts leads rapidly, and drives conversions for finance providers like banks, monetary advisors, bank card suppliers, monetary know-how (FinTech), and funding funds.
However right here’s the kicker: Over 60% of Americans want to remain hush-hush with reference to cash.
So how do you faucet into this nuanced demographic? With PPC for monetary providers.
As a prime 3% digital advertising and marketing company, HawkSEM boasts a powerful 4.5X common ROI for a various clientele, together with monetary providers companies.
We tapped into the experience of our CEO, Sam Yadegar, to interrupt down 15 suggestions for top-notch search advertising and marketing methods within the finance {industry}.
15 suggestions for high-impact PPC for monetary providers
PPC is a nuanced advertising and marketing technique that calls for ability, experimentation, and steady optimization. Now, marry that with the finance {industry}’s internet of inflexible guidelines and laws. It makes for a difficult but extremely rewarding panorama.
However we’ve acquired the juice to gasoline up your campaigns:
1. Set up key efficiency indicators (KPIs)
As data-obsessed techies, it’s no shock that finance is one among our favourite sectors to work with. In any case, it’s an {industry} that’s all concerning the numbers. Because of this, monetary establishments are not any strangers to key efficiency indicators (KPIs).
KPIs are measurable information factors for a way nicely what you are promoting performs towards a sure objective or goal. If you set up these benchmarks early on, you’ll align your efforts along with your monetary objectives.
Our go-to KPIs for PPC advertising in finance embody:
- Value per acquisition (CPA)
- Conversion charge
- Return on advert spend (ROAS)
- Advertising-Certified Leads (MQL)
- Gross sales Certified Leads (SQL)
- Compliance charge
- Click on-through charge (CTR)
- Common place
- Return on funding (ROI)
All of this information helps inform your PPC advertisements as you go. And since these metrics ebb and circulation, you’ll need to monitor your KPIs frequently.
We all know what you’re pondering: ‘Nice, yet one more factor to pile onto an already busy plate.’
Happily, while you companion with HawkSEM, you get unique entry to our proprietary tech, ConversionIQ. This dynamic advertising and marketing device streamlines all of your KPI measurement and optimization efforts with real-time analytics and data-backed refinement.
2. Perceive the laws for monetary advertisements
Financial products and services are a part of extremely regulated industries. Because of this Google requires companies to adjust to native, state, and nationwide laws of their advertising and marketing.
Google and different serps (like Bing or Yahoo) could require particular data inside monetary advertisements earlier than they approve them, equivalent to:
- Disclosure of related charges
- Contact data and bodily location
- Hyperlinks for implied third-party endorsement or accreditation
Private mortgage promoting should additionally comprise particulars about high quality, charges, options, advantages, and dangers related to monetary choices. The concept is that these disclosures present essential information to assist shoppers make knowledgeable choices. If you create monetary advertisements, your content material ought to comprise:
- Annual Share Price (APR)
- Minimal and most reimbursement interval
- An instance that represents the whole mortgage and different relevant charges
Plus, all of Google’s monetary content material and promoting should adjust to E-E-A-T and YMYL search quality rater guidelines.
- E-E-A-T (Expertise, Experience, Authoritativeness, and Trustworthiness) speaks to the standard of all content material Google serves, in addition to its creators.
- YMYL (Your Cash or Your Life) is content material that requires an particularly excessive stage of E-E-A-T as a result of its delicate nature and potential impression on readers’ lives.
Our recommendation? Dig into the insurance policies of every search engine, as these platforms frequently replace their tips to align with evolving regulatory and {industry} requirements. (In line with Semrush, that’s about once per year for Google.)
3. Know the monetary merchandise Google Adverts gained’t settle for
Along with their distinct insurance policies and laws, serps like Google are notably selective concerning the monetary choices they let companies promote.
As an illustration, Yadegar factors to how Google banned ads for quick payday loans with high interest in recent times. However that’s not all; in addition they don’t let advertisers promote different monetary merchandise, equivalent to:
- Excessive APR private loans
- Buying and selling binary choices or related merchandise
- Advanced speculative monetary merchandise
- Credit score restore providers
- Quick-term loans that require reimbursement inside 60 days
Mortgage modifications, debt providers, and cryptocurrency advertisements are allowed, however there are strict guidelines. As talked about earlier, for those who plan PPC for monetary providers in these areas, completely evaluate Google’s tips fastidiously.
However wait — what for those who do all that and your advert nonetheless doesn’t get permitted? Fortunately, Google all the time guides you on learn how to repair the problems and convey your search advertisements to fruition.
4. Begin paid search advertising and marketing slowly
Though a well-oiled PPC technique can carry fast outcomes, it’s nonetheless sensible to begin gradual. This helps you perceive your audience higher and refine your advertisements based mostly on preliminary suggestions and efficiency information.
Rush into PPC with out a stable technique? You threat losing advert spend on poorly focused advertisements, drawing within the fallacious viewers, or worse, no viewers in any respect. Plus, a hasty method can overlook important points of marketing campaign optimization, like A/B testing, key phrase refinement, and viewers segmentation.
As a substitute, regularly ramp up your PPC efforts for extra optimized campaigns which might be higher tailor-made to your viewers’s wants.
Right here’s what we advise:
- Begin with 1-3 campaigns and a core group of 4-10 key phrases
- Measure the outcomes for a number of weeks to a month
This offers you a transparent thought of the place your funds is allotted most successfully. From there, you’ll be able to dial again underperforming advertisements, fine-tune your method, and focus your sources on the practices that ship the most effective outcomes.
5. Harness the ability of each website positioning and PPC
Right here at HawkSEM, we prefer to say that PPC is the quick recreation to search engine optimization’s (website positioning) lengthy recreation.
In contrast to PPC, website positioning outcomes take a bit longer to manifest. It’s because website positioning entails organically rising your visibility and rating in search outcomes via content material, key phrases, backlinks, and different optimization methods.
Whereas it’s a slower course of, it yields sustainable and cost-effective ends in the long term. It additionally lays a robust basis in your PPC campaigns — however how?
If you combine the insights you achieve from website positioning (like efficient search phrases and viewers conduct information) into your PPC technique, you create stronger, extra focused advertisements. The extra personalised and interesting your advertisements are, the upper your possibilities of clicks and conversions.
This method enhances the instant visibility that PPC is thought for and cultivates lasting, long-term on-line development. However don’t simply take our phrase for it.
New Century Financial introduced in HawkSEM to overtake their PPC, website positioning, touchdown pages, in addition to all reporting and monitoring. We conquered excessive CPAs and junky leads with revamped PPC campaigns, touchdown web page optimization, and superior key phrase monitoring.
This balanced technique paid off with higher, cost-effective leads, a drastic 80% CPA discount, and 5 instances extra month-to-month conversions.
6. Put together for greater value per click on (CPC)
Monetary key phrases are extraordinarily aggressive. On the subject of digital advertising and marketing for monetary providers, this typically interprets into a better value than for different industries.
In line with WordStream, the CPC is about $0.86 for show advertisements and $3.44 for search advertisements.
However it’s not simply the stiff competitors that hikes up costs. Different components embody:
- Excessive buyer lifetime worth (CLV) – Monetary manufacturers will make investments extra in PPC as a result of a brand new buyer can yield important long-term income.
- Advanced and controlled {industry} – This complexity will increase the trouble and price of making and managing efficient PPC for monetary providers.
- Focusing on high-value transactions – The potential return on a single conversion (for providers like loans, investments, or insurance coverage) will be substantial, justifying greater bids for related key phrases.
- Extra knowledgeable, selective viewers – Audiences on this area of interest require extra subtle and focused advertising and marketing methods, that are costlier to develop and execute.
We suggest specializing in niche-specific key phrases quite than broader {industry} search phrases to draw essentially the most certified leads. It’s additionally good to leverage negative keywords to weed out unqualified leads.
For instance, for those who promote premium investing software program, you may need to add phrases like “free” or “low cost” to your unfavourable key phrase checklist.
Want some backup with key phrase analysis? HawkSEM boasts a dynamic roster of PPC services to assist construct a profitable key phrase technique.
7. Know your viewers concentrating on choices
Viewers concentrating on is essential for PPC in any {industry}. Nonetheless, monetary providers are extremely particular, pricey, and cater to distinct, delicate wants. Which means? It’s much more very important to achieve the correct viewers, or else you’ll waste advert spend on unqualified leads.
For instance, image a wealth administration agency that makes a speciality of retirement planning providers. We will assume the audience is people nearing retirement with particular monetary planning considerations.
Search engine marketing (SEM) may also help attain this demographic in a number of methods, equivalent to:
- Native key phrases like “retirement planning for over 50s” or “wealth administration for retirees”
- Geotargeting to achieve communities with a better inhabitants of retirees
- Tailor-made touchdown pages that talk on to the considerations of individuals near retirement
- Remarketing to re-engage guests who confirmed curiosity in retirement planning however didn’t take instant motion
Yadegar says ConversionIQ may even transcend primary demographics that will help you join with the correct folks.
“We key in on emotional triggers together with life occasions that induced folks to wish monetary providers, then create touchdown web page [and ad] copy to resonate with this,” he explains.
However concentrating on isn’t with out some limitations.
As of 2020, Google stopped allowing housing, employment, and credit-related ads to focus on based mostly on gender, age, parental standing, marital standing, or ZIP code within the U.S. or Canada. This is applicable to bank cards, residence loans, automobile loans, equipment loans, and short-term loans.
8. Create authentic, compelling advert copy
The most effective methods to stand out from opponents throughout the monetary providers {industry}? Get as inventive as attainable! Your advert copy is the proper place to just do that.
Excessive-quality, compelling copy will increase your CTR and brings in the correct folks: your folks. One examine discovered that inventive advert copy generates four times more profit than these with much less inventive options. Plus, it facilitates an excellent higher consumer expertise (extra on this later).
Don’t get us fallacious; there are important bins your advert campaigns need to tick — compliance with {industry} laws, readability in your choices, and transparency with charges and providers. However inside these boundaries, you’ve acquired loads of room to innovate and seize consideration.
Let’s say you’re a mortgage lender who needs to focus on first-time homebuyers. You possibly can deal with the emotional side of proudly owning a house and use a tagline like “Your Dream Dwelling Awaits – Problem-Free Mortgages for First-Time Patrons.”
This kind of messaging goes past the essential providing and faucets into your viewers’s emotional journey.
To jazz up your advert copy, attempt the next:
Discuss like your viewers does
Deal with your viewers’s ache factors with language that resonates with them. Focusing on younger professionals for funding providers? Communicate to their ambitions and future planning. Focusing on retirees contemplating wealth administration? Contact on safety, consolation, and legacy.
Incorporate storytelling
This can be a nice technique to make your content material extra participating. Share success tales or relatable eventualities that potential shoppers can see themselves in. Or, you should utilize emotionally interesting narratives that align with the monetary objectives of your chosen demographic.
Get visible
Combine high-quality, related pictures and movies that complement your message and pop off the display. If laws enable, experiment with humor or inspirational quotes for a novel and memorable twist.
Feeling uninspired? Peep a few of our favourite stand-out advert copy examples here.
9. Refine your touchdown pages
Spent hours sprucing your advert copy, however not your touchdown web page? Or did you bypass it altogether and ship audiences straight to your organization’s homepage? That’s a no-no.
Your touchdown web page deserves simply as a lot, if no more, consideration than your PPC advertisements. In any case, its sole function is to seal the deal on the choices you promote. And guess what? Even essentially the most aesthetic homepage isn’t designed to show curiosity into motion.
With touchdown pages raking in 160% higher conversion rates than different kinds of signup types, opting to omit this central aspect shouldn’t be the way in which to go.
A few of the makings of a killer landing page are:
- Related, eye-catching headlines
- Clear, engaging call-to-action (CTA)
- Unique, high-quality visuals
- Intuitive, easy-to-navigate design
- Easy, spam-resistant types
- Aligns seamlessly along with your PPC advertisements
- Social proof or testimonials
- Contact data
- Social share buttons
- Fast load time
- Optimized for cellular navigation
Professional tip: Make your touchdown web page’s H1 (important headline) and H2 (subheadline) textual content both match or resonate with the highest key phrases you need to rank for. This helps enhance quality scores and engagement.
10. Leverage show promoting
Certain, the necessities for monetary advertising and marketing could also be strict. However tens of millions of shoppers want monetary merchandise — tax preparation assist, retirement choices, residence fairness loans, auto insurance coverage, and banking accounts.
Display advertising provides you many choices to attach with these prospects. It’s not nearly showcasing your providers; it’s about participating along with your viewers in a means that faucets proper into their wants and pursuits.
You’ll be able to maximize the impression of your show advertisements with the next concentrating on techniques:
- Behavioral – Tailor your advertisements based mostly on consumer behaviors, like previous purchases or web sites visited. That is excellent for reaching prospects inquisitive about related monetary providers.
- Contextual – Place your advertisements on internet pages with content material associated to monetary providers. This lets your advertisements be seen by folks already researching finance-related matters.
- Geographical – Goal potential prospects based mostly on their location. That is particularly helpful for brick-and-mortar suppliers or for tailoring providers to particular regional monetary wants.
- Website-specific – Select particular channels the place your audience will most certainly hang around. For monetary providers, that’s often finance information websites, funding boards, or social media platforms like LinkedIn and Twitter.
There are additionally completely different show advert codecs, equivalent to:
- Static – Easy but efficient, these advertisements are excellent for delivering a transparent, concise message.
- Animated – Incorporates animation to seize consideration, which is useful to clarify advanced monetary merchandise engagingly.
- Interactive – Have interaction customers with a two-way interplay, which is right for accumulating responses or offering personalised data.
- Video – Makes use of video to inform a compelling story about your choices, which may also help construct belief within the monetary sector.
- Increasing – Begins with a normal dimension and expands on interplay, permitting for extra particulars and engagement.
Now, let’s contact on some greatest practices for show advertisements.
Show advert greatest practices
Listed below are a number of confirmed greatest practices for show advert campaigns within the finance {industry}:
- Go native: Localize your advert to make your interactions extra related. Use acquainted native phrases and graphics to extend messaging and conversion charges.
- Make it actionable: Contemplate including a name to motion (CTA) button to the banner itself to assist encourage extra clicks.
- Add a targeted hero picture: In case your product advantages a selected viewers, use pictures that resonate with that particular client. For instance, a younger, completely satisfied household in a yard for first-time owners could resonate higher than a generic inventory photograph of a suburb.
- Construct belief: Concern and uncertainty are widespread feelings behind monetary decision-making. Showcase any certificates or testimonials to strengthen credibility.
- Mix with search advertisements: Show advertisements give your viewers a visible of your model. Comply with up with search advertisements to reinforce consciousness, prompting your viewers to seek for you (hi there, greater search engine rankings) and think about your choices.
11. Analysis the competitors
How do you differentiate your self with out realizing what you’re up towards? Competitor evaluation is a linchpin in high-caliber advertising and marketing. That’s why we combine it into each single one among our choices at HawkSEM.
In addition to, your shoppers are already sizing up your rivals. Nearly all financial service consumer journeys start with online research. Meaning the very first thing they’re doing is scoping out how your choices align with opponents and what units you aside.
So, how do you utilize this to your benefit?
- Determine your opponents – Google Adverts and Microsoft Ads make this simple with built-in options to zero in on the competitors. You may as well attempt advertising and marketing instruments like Ahrefs, Semrush, or SpyFu.
- Create visuals to exhibit findings – Illustrating competitor analysis makes it simpler to identify tendencies and potential gaps to tell your technique later.
- Phase your opponents – Some opponents pose an even bigger risk than others. Break them into teams with particulars on the kinds of competitors (e.g., greater funds, overlapping key phrases, and so on.)
- Decide their positioning – Discover and dissect how your opponents match into the monetary market.
- Deep dive into the information – Devour the findings and pivot your method accordingly for an much more profitable PPC marketing campaign.
We even put collectively a guidelines to make PPC competitor evaluation easy-breezy. Obtain it here.
Lurk in your opponents’ strikes (and missteps), then use that to sharpen your edge.
That’s exactly one of many methods we executed to attain TimeWarp Trading lots of of high-quality, weekly leads and masses extra webinar gross sales — you’re subsequent.
12. Prioritize the consumer expertise
Let’s say somebody searches for a brand new bank card with higher rewards.
They arrive throughout a possible possibility on a finance weblog and head to the lender’s web site. However as soon as there, they encounter a gradual, complicated interface that’s not so intuitive. The location’s content material is disorganized, and earlier than they’ll even discover the cardboard’s phrases, it bombards them with a barrage of questions.
As spectacular as this supplier’s incentives could also be, such a irritating consumer expertise is sufficient to push guests in the direction of a competitor with a smoother, extra gratifying web site expertise. In any case, if their web site struggles with primary performance, how can folks belief them to deal with their funds?
Doubt is a critical issue that influences over 80% of consumers to chop manufacturers unfastened after a poor consumer expertise. That’s a hefty chunk of enterprise you’d ship straight to your rivals.
Consumer expertise greatest practices:
Set your monetary firm aside with a seamless consumer expertise with the following pointers:
- Use clear, easy-to-follow navigation and an intuitive construction that guides guests to the following steps.
- Optimize your web site for cellular units for a constant expertise.
- Hold your web site’s load velocity lightning-fast to forestall frustration and bounces.
- Use participating, jargon-free language to make monetary ideas extra comprehensible.
- Personalize the consumer expertise with Google Ads callout extensions for contextual particulars or behavior-based product suggestions.
- Sprinkle clear, compelling CTAs to encourage desired actions, like a card utility or session reserving.
- Spotlight your safety measures to guard client privateness and monetary information.
- Embody interactive instruments (like calculators or quizzes) to have interaction guests and assist them perceive their monetary choices.
- Make types as temporary and easy as attainable.
- Supply simply accessible buyer assist via chatbots, stay chat, telephone assist, or detailed FAQs.
- Preserve constant branding throughout all of your platforms to construct belief and model consciousness.
- Present authentic, informative content material (like weblog posts or how-to guides) that add worth.
Undecided which fashion your viewers vibes with most? Time to place your concepts to the check.
13. Check, modify, and check once more
As we’ve discovered, PPC calls for steady testing and fine-tuning to maintain your campaigns acting at their greatest.
A/B testing compares two variants of the identical (or related) advertising and marketing product to find out which one audiences reply higher to.
As for what you’ll be able to check, the digital sky’s the restrict.
You’ll be able to experiment with completely different pictures, headlines, or advert copy. To do that, you run each advertisements concurrently and analyze the efficiency of every. (For the file, you can even A/B check web site components, e-mail campaigns, and content material advertising and marketing belongings.)
However keep in mind: It’s greatest to isolate one variable at a time. This fashion, you’ll be able to confidently attribute any shifts in efficiency, constructive or unfavourable, on to that particular change.
Bear in mind these killer outcomes we snagged for our funding consumer, TimeWarp Buying and selling?
A part of that was due to testing completely different points of their touchdown web page. We expect the 30% bump in conversion charges and 471% ROAS is a testomony to how nicely it really works.
14. Create a lead-scoring system
Opposite to widespread perception, all leads are not created equal.
Earlier, after we broke down your KPIs, we talked about SQLs and MQLs. Merely put, gross sales-qualified leads are potential prospects teetering on the sting of changing.
Advertising-qualified leads, however, are nonetheless within the analysis stage of their journey.
That is essential data as a result of it tells you learn how to deal with every particular person. As an illustration, SQLs are primed for a hard-hitting gross sales pitch, however MQLs profit extra from remarketing.
Then there are information-qualified leads (IQLs) who’re solely within the consciousness stage, simply encountering your model for the primary time.
Because of this, it’s good to develop a lead-scoring system that aligns along with your gross sales and advertising and marketing objectives. This helps you prioritize prospects primed for conversion. If you assign worth to every interplay, you’ll be able to monitor which leads want steady engagement and that are prepared for a faster follow-up.
Right here’s how one can develop an efficient lead-scoring system:
- Outline what high quality leads appear like in your monetary providers firm (demographics, revenue, family dimension, marital/parental standing, and so on.)
- Assign scores to varied actions (advert clicks, repeated web site visitors, content material downloads, and so on.)
- Contemplate the place the lead got here from (natural search, referrals, social media, e-mail advertising and marketing, direct visitors, and so on.)
- Consider every lead’s engagement (give greater scores to those that have interaction along with your content material extra continuously)
- Incorporate behavioral information (particular key phrases searched or pages visited)
- Set a scoring threshold (a cap that calls for additional motion, like a follow-up name or e-mail out of your gross sales staff)
- Check and refine (modify scoring standards based mostly on conversion metrics and suggestions out of your gross sales staff)
15. Add retargeting to your PPC advertisements
Retargeting (additionally known as remarketing) re-engages guests who beforehand interacted with what you are promoting with tailor-made, personalised advertisements. It encourages shoppers to return to your web site and full a desired motion which will curiosity them.
Consider retargeting as a pleasant reminder of why they visited your web site to start with, conserving your model top-of-mind for once they’re able to commit. It’s additionally a cost-effective technique to generate high quality leads.
That mentioned, retargeting within the monetary sector is a tad extra nuanced in comparison with different industries. That is because of the nature of monetary merchandise and providers, in addition to industry-specific laws.
For one, monetary providers are topic to stringent information safety and privateness laws (like GDPR, CCPA, and so on.). Subsequently, retargeting campaigns should adhere to those legal guidelines and deal with client information securely and ethically.
Different issues embody:
- Delicate nature of monetary choices
- Longer resolution cycles
- Content material-driven targeted
- Personalization with warning
- Frequent regulatory adjustments
…simply to call a number of.
Navigating all the foundations will be difficult, however when you nail it, the payoff is value it – suppose 10x more conversions, identical to we achieved for our consumer DirectTV.
PPC Prices for FinServ
PPC for monetary providers can cost between $2,500 – $10,000+ every month and it varies broadly based mostly on components like competitors and {industry}.
Whereas the average Google Search CPC is $2.69, monetary providers are going to fall above that common at $2.69 per click on. However keep in mind, that is an common.
As an illustration, you would pay round a $10 CPC for know-how and insurance coverage, whereas ecommerce falls in step with the {industry} common at $2.69. Google Show Community (GDN) advertisements common at $0.52 per click on.
Finally, you need to pay for essentially the most aligned key phrases that symbolize leads with the intent to purchase. If these leads convert then it’s value it. And which means bidding on related key phrases in your area of interest.
To keep away from wasted advert spend, create high quality advertisements with accompanying touchdown pages. This can enable you enhance your advertisements’ high quality scores and see extra conversions.
Or higher but, companion with a certified PPC company with the firing energy to decrease CPC and maximize ROI to make sure your funding pays off.
The takeaway
Within the realm of digital promoting, some industries are just like the Wild West with minimal tips to abide by. However the monetary providers {industry} isn’t one among them. It’s a distinct segment filled with stringent guidelines and laws that each enterprise homeowners and entrepreneurs should fastidiously navigate.
Does that imply you’ll be able to’t sort out your personal PPC for monetary providers? In no way, however know that it requires meticulous planning, ongoing administration, and a stable understanding of the laws that govern monetary promoting.
Break these guidelines, and the penalties vary from permabans and reputational harm to authorized motion, hefty fines, and lack of licensure. No enterprise needs to take care of that form of blowback.
However Yadegar says there’s extra to it than that.
“Outdoors of laws and restrictions, it’s extremely aggressive,” he says. “Realizing that monetary providers shoppers are likely to have a really excessive lifetime worth, bidding will get fairly aggressive and cost-per-lead (CPL) can get excessive.”
Apprehensive the stakes are too excessive? HawkSEM’s staff of monetary advertising and marketing professionals are execs at navigating the nuances of monetary promoting. Our complete PPC providers cowl all the pieces from preliminary idea to buildout, execution, and steady optimization.
Able to carry that 4.5X ROI common to your pay-per-click promoting? We’re all hands on deck!
This text has been up to date and was initially revealed in August 2019.
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