CASE DESCRIPTION:-

GangstaLoans is a growing NBFC startup. It provides consumers with quick and easy personal loans and a digital credit card option. Its main customers are individuals with urgent monetary needs and career professionals who are too busy to spend hours in a traditional loan setting.

Its key business objective is to profitably grow loan originations sustainably, bringing its growing pipeline of innovative products to new customers and maximizing the total value of funded loans for new and repeat customers. However, it has been unable to expand as it wanted due to the lack of its digital prowess. 

It did not have a competent marketing team that could leverage the advancements in technology. Thus, it approached our team to find ways to grow online using advanced digital media strategies. Using several means, especially Google Ads, the company was looking to rapidly grow and acquire new customers at the lowest possible cost.

CHALLENGES FACED:-

  • Low Online Visibility: Despite providing high-quality products, the company had trouble coming up high in search engine results. With high inorganic and low organic traffic, the website was placed on the fourth or fifth page of the search results.
  • Inconsistent Social Media Presence: The business did not have a well-thought-out social media plan. Limited audience engagement and brand recognition were the results of the media upload's erratic and ill-planned nature, as well as the Instagram page's improper optimization for communicating the company's message. 
  • Conversion Rate Optimization: Although the website was well made, it had few visitors and the conversion rate on it was even lower. The fact that less than 3 out of 20 members who visited the website decided to buy something suggests that there were problems with the user experience and user journey.

STRATEGIES IMPLEMENTED:-

  • Search Engine Optimization (SEO): To find and fix technical SEO problems, we thoroughly audited the website. To increase search exposure, our team refined on-page components, increased site speed, and produced excellent, keyword-rich content. 
  • Pay-Per-Click (PPC) Advertising: To attract highly intent users, we created tailored PPC campaigns on sites like Google Ads and Bing Ads. With this, we were able to increase traffic to optimize their ROI by using keyword targeting, persuasive ad copy, and thorough A/B testing.
  • Social Media Overhaul: We developed a thorough social media plan that complemented the brand's personality. To publish interesting stuff, we updated their Instagram and set up their Twitter page. To raise brand knowledge and engagement, we created a video specifically for this campaign to showcase its key value propositions and to build trust with customers.
  • Conversion Rate Optimization (CRO): Through continuous A/B testing on the most important landing pages, we improved the user interface and navigation, optimized the checkout process, and added new CTAs like “Check your Credit Score for FREE” and “Get a loan upto Rs 10 lakhs* now”.

  • Search Engine Marketing (SEM): We ran targeted Google AdWords campaigns based on careful keyword research, focusing on location-based targeting and promoting membership offers. In particular, we launched the Performance Max campaign, which was a mix of motivational and training offers to attract potential customers.
  • Cost Per Acquisition (CPA): GangstaLoans also started out maximizing conversions to establish a baseline CPA target while spending its budget. Then, the team switched to a target CPA bidding strategy to scale its campaigns profitably within that defined efficiency goal. It also used offline conversion imports to measure and optimize for online application completions that ultimately resulted in a fully funded loan.

RESULTS:-

After implementing our strategies and running marketing campaigns for six weeks, GangstaLoans saw the following changes:- 

  • 22% increase in conversions.
  • 8.3K new followers on Instagram.
  • More than Rs 15 lacs in revenue from newly funded loans. 
  • 21% reduction in overall CPA.
  • 35% increase in the number of visitors to the website.
  • 67% growth in the number of fresh loan inquiries.

KEY TAKEAWAYS:-

  • A user-friendly website with optimized lead-generation tools can significantly impact conversion rates.
  • Targeted SEM campaigns can drive immediate traffic and inquiries.
  • Consistent and engaging content across various digital channels helps in building brand authority and customer trust.
  • A comprehensive digital marketing strategy, which includes website optimization, SEM, content marketing, and social media engagement, can lead to substantial growth and increased brand recognition for a business.
  • In this era, where technology is improving regularly, not leveraging it to grow one’s business is a big loss in terms of opportunity for any business.

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