Case Study: Closing the Home Loan Gap - Optimising Home Loan Conversions for Accurate ROAS
Client - Confidential (Financial Services - Home Loan Provider)
Industry - Finance
Challenge - The client faced a common challenge in the financial services industry: accurately measuring the return on ad spend (ROAS) for home loan applications. Traditional methods often track lead form submissions, but these don't always translate into completed applications. The client needed to bridge the gap between initial inquiry and final conversion to optimise their marketing spend and drive profitable growth.
Objective - Establish a true ROAS calculation that accurately reflects completed home loan applications, and optimise ad spend to reduce cost per acquisition (CPA) while maximising conversion rates.
Our Approach
We recognised that accurate ROAS measurement required a sophisticated tracking and analytics solution. Our strategy focused on understanding the entire customer journey, from initial website visit to final application completion, regardless of where that process took place.
1. Advanced Cross-Site Tracking with Google Analytics 360
We implemented Google Analytics 360 to enable advanced cross-site tracking. This was crucial because the home loan application process often involves redirecting users from the main website to third-party application portals. GA 360's robust features allowed us to seamlessly track user behavior across these different platforms, providing a comprehensive view of the customer journey.
2. Mapping the Customer Journey
We meticulously mapped the entire customer journey, from the initial website visit to the final application submission. This included identifying all touchpoints, tracking user interactions, and understanding the flow of information between the client's website and the third-party application portals. This detailed mapping was essential for accurately attributing conversions and optimising the marketing funnel.
3. Data-Driven Ad Spend Optimisation
Armed with accurate conversion data, we optimised the client's ad spend based on completed applications, not just lead form submissions. This allowed us to identify the most effective campaigns and channels, and allocate budget accordingly. By focusing on real conversions, we were able to maximise the return on investment and drive profitable growth.
Results
Our data-driven approach yielded significant improvements in conversion tracking and cost optimisation:
- True ROAS Calculation: We successfully established a true ROAS calculation that accurately reflected completed home loan applications. This provided the client with valuable insights into the effectiveness of their marketing campaigns and allowed them to make data-driven decisions about budget allocation.
- Reduced Cost Per Acquisition (CPA): By optimising ad spend based on real conversion data, we significantly reduced the client's CPA to under $500. This demonstrates the effectiveness of our approach and the substantial cost savings achieved for the client.
Conclusion
This case study demonstrates our expertise in implementing advanced analytics solutions to optimise marketing performance and drive profitable growth for financial services clients.
By bridging the gap between lead generation and final conversion, we enabled the client to accurately measure ROAS and optimise their ad spend for maximum impact. Our ability to leverage sophisticated tracking tools and implement data-driven strategies makes us the ideal partner for businesses looking to improve their marketing effectiveness and achieve sustainable growth.
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