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Case Studies
LoanAway - Online Lending Company
Growth Results
8x ROI
Return on Investment in the first 6 months
32.19%
Average Conversion Rate
Industry Avg. - 5.8%
▼52%
Cost per Lead from Pay-per-click
Ads
▲37%
Number of Leads from Online Marketing
Repeatable growth model
After initial growth, the business seemed to have hit a ceiling in terms of the number of Leads we could generate. We knew that Google Ads are a way to go, but tried working with multiple partners and were not satisfied with results. The specialists seemed vague, with no specific results or solutions. We did not know what to expect every month. Our team at growth improved our Google Ads and website and helped create a model that we replicated for multiple regions.
Pavlo Skvortov,
Marketing Director
About & Goals
About: Loan Away is a recognized brand in the personal finance space. The company has developed a proprietary technology that allows them to reduce the time between an application and the time a loan is issued. Keeping up with the latest technology, the brand emphasizes speed & convenience to the customer.
A large portion of business came from online advertising, however, results seemed to be floating in the air - different number of Leads every month. The approach did not feel professional.
Goal:
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Generate more Online Leads
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Attract customers from the targeted areas
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Qualify Leads
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Use additional Revenue to expand the business further.
The Problem
After a booming growth, the company was looking for opportunities to further expand its business.
The company used Pay-per-Click advertising in the past, but never saw the type of results they expected to see.
As any Marketing Director, Pavlo was not happy that there was no way to qualify the Leads, and accurately measure the success of the program.
The Game-Changing Decission
"We knew that Google Ads were a way to find relevant prospects, but we struggled to find the right partners to prove it."
That's where the growth360 team came in - we implemented a number of solutions for the client that helped clarify the results are created a model they could use in various regions to consistently get volume of Leads & improve Lead quality over time.
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Call Tracking, and Google Analytics and set up precise conversion tracking.
This way we were able to tell good keywords from the ones that did not convert. While the client got access to call recordings and could qualify the Leads themselves.
While growth360 was working to improve the quality of checkout, clients worked to increase the Closing Ratio with the Sales team.
The Approach
01
Lead Tracking
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Setup Phone Call tracking and Webform lead tracking and connected both to Google Analytics & Google Ads.
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Setup call management solution so that the calls could be qualified based on contents.
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Build a Live dashboard so that the client could attribute Revenue to Leads and accurately measure the ROI.
02
Conversion Optimization
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Based on the further data discovery, we improved the web form on the website in order to increase the number of Leads further.
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The team implemented an Email Automation solution for the client.
03
Google Ads
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As a part of our work, the growth team identified over 50% of the budget that was spent on keywords that were never converted into Leads.
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We implemented a system that allowed us to qualify good and bad Leads, adding an additional data point for Google's AI technology.
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We introduced a new account structure, which allowed the account to be replicated in multiple different regions.
04
Display Ads
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Our team identified how Visitors moved to make a purchase.
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We added a set of ads targeting users who did a valuable action on the website but did not complete a purchase.
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In addition, we launched ads targeting prospects that were shopping around for a Lending Solution on competitor websites.
Let's Take it to the Next Level
After a complete overhaul of the checkout process, the Google Ads, and an introduction of a Display Ads solution, the company broke even within the first month.
Over time, the additional Revenue was enough to expand into untapped areas of Google.
An addition of Banner Ads allowed to stretch the number of Leads further, providing the client with additional expansion they needed.
All with a precise account structure, that allowed to improve targeting over time and laser-target the most relevant prospects, that we expected to be the best Leads.
Proven effective with 8x ROI results, this model was replicated for other regions around the country.
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