Increased Conversions by 37% and Decreased CPA by 28% for the European Fintech Project
Financial services for entrepreneurs and small to medium-sized enterprises.
Finom provides digital banking and invoicing services to self-employed professionals and SMEs in Germany, France, and Italy.
As a fast-growing startup, Finom aimed to increase 10x their qualified leads, yet they hit their limits with Google Search. Lira Agency, their digital marketing partner, was looking for ways to scale up campaigns to achieve the ambitious goal.
The 2-week test showed a 37% increase in conversions and a 28% decrease in CPA and was considered successful. Broad match keywords were adopted for the initial campaign and for other countries. Finom increased the amount of qualified leads, 85% of them now coming from broad match keywords.
Finom has different pricing packages and tracks full-funnel conversions: from first sign-up to opened account. The number of conversions per week was sufficient for strategies to learn. Search campaigns are divided by country and service with about 100 active keywords per campaign.
The idea was to tap into more queries with broad match keywords and attract incremental high-quality traffic with tCPA bidding strategy. Lira was testing the approach for 2 weeks (Feb 25 – Mar 11, 2021) with 50% traffic split for one of the countries. Up to 10 keywords were moved from broad match modifier to broad match in a tested campaign. The CPA target and bidding strategy remained the same.
Meet the team:
Aleksandr Akhmadyrshin, project manager
Xenia Volokitina, lead engineer
Elena Romanova, engineer