“Paid ads have grown from 2% to 20% of new business with the same spend”

– Simon Gormley, Head of special projects.

The Brief

Go Car Finance is one of New Zealand’s leading car financing providers. Although they just built a new website, conversion and leads were minimal.

With more people wanting fast online approval, Go Car Finance needed to move quickly to scale leads and capture market share of a growing segment.

Our Solution

  1. Built landing pages to better convert paid traffic.
  2. Overhauled Google Adwords strategy to drive qualified traffic in a competitive market.
  3. Full tracking and dashboards to attribute spending and measure channel profitability.

Dec 2019 – Feb 2020

+155%

increase in finance applications

Within 3 months.

-60%

decrease in cost per application

CPA of $28.26 vs $70.63

+130%

increase in Adwords Click-Through

CTR of 16.04% vs 6.96%.

Simon Gormley

– Head of special projects

Most agencies that we’ve worked with have a templated approach to the work they do that works for them. They have their mould, and try and make you fit. The difference with Double is that they spent time understanding our business, and as a result, we have a solution that works for our business goals.

 

This meant more than just generating leads, but converting them too. They set up a solution that tracks leads right across every touchpoint – from advertisers, to our website, and then through our own network of systems (when everyone else said it couldn’t be done).

 

This means we’re now optimising for leads that convert, not just leads. As a result, this channel has grown from 2% – 20% of our new business with the same spend. To top it off, Double has built a reporting dashboard to communicate this to the business so it can be understood by people outside of the industry, instead of hiding results in digital jargon.

 

I’d recommend Double to anyone looking for a solutions-driven partner who uses data to make sure the job isn’t just done, but done right”

No tracking, no scale

With each part of the customer funnel using different software (adverting/application/sales support/contracts) we had no visibility on what marketing was delivering deals and what marketing was delivering absolutely nothing. Before we could confidently scale ad spending aggressively we had to setup proper tracking.

 

We used PowerBI dashboards to visualise each stage of the funnel and show what was profitable and what was not. This streamlined management reporting and budgeting as well as highlighted ways to improve application conversion rates (ultimately increasing by 135%).

Getting the Result:

We studied best practice throughout the global finance sector and realised that two variables drive 80% of the purchase decision; speed & convenience, and brand trust.  These elements became front and centre in our landing pages.  Simple loan calculators and customer reviews (TrustPilot and Google reviews) lead our landing pages and then a focus on scannable headlines and faster mobile load times.

 

By reworking the Adwords strategy using 1KW1AG (one keyword one ad-group) and setting up conversion tracking  through the funnel, we could see what paid search terms were not only turning into a leads but converting into a closed deals. This knowledge meant we could outspend competitors on highly valuable traffic and save our pennies on terms that delivered big numbers but no return.

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