Lead Supply, matchbanker.dk, specialises in price comparisons of consumer loans. The company is the market leader in Denmark and Sweden, and also recently launched in Spain and Poland. Its mission is to provide transparent, frictionless banking experiences for consumers all over Europe.
In its digital marketing, Lead Supply is committed to driving efficiency, reaching ambitious targets in terms of return on ad spend (ROAS) and supporting international expansion. By 2019, the goal is to be present in 12 countries.
Lead Supply uses data to drive their marketing efforts. “We’ve built our own data warehouse, where we store and combine information from a number of different sources to give a holistic view of the customer”, explains Co-founder and CEO Andreas Linde. “Based on this, our data team has built a script that automatically calculates lifetime value across all markets and channels. This is absolutely key to gaining momentum in the market as it allows us to precisely know what a customer is worth and therefore how much we can pay for her or him.”
After the lifetime value predictions are executed in the data warehouse, they are fed into Google Analytics and AdWords. “We use the lifetime value as the guide for automated marketing programmes, including bidding”, Andreas says. By using the AdWords Smart Bidding Strategy Target ROAS, Lead Supply can effectively bid based on a target return on ad spend (ROAS), with their bids being automatically optimised at auction-time towards the target.
By using their own lifetime value calculations to inform their AdWords Smart Bidding strategy, Lead Supply has realised a 31% increase in monthly conversions, a 17% growth in conversion rate and a 9% improvement in return on ad spend. On top of that, the new tactics have freed up scarce resources in the marketing team, enabling them to focus on higher value tasks such as international expansion strategies and advanced analytics. “By automating our bidding strategy, we’ve saved at least four to five hours a day compared to when we were doing manual bidding and constantly surveying the landscape” Andreas affirms. “Smart Bidding is also playing a key role in testing new keywords and discovering keywords that we might not have tested ourselves.”
To be able to speed up expansion plans, it was necessary for us to reach targets and drive efficiency, which Smart Bidding allowed us to do
- Andreas Linde, Co-founder and CEO, Lead Supply
The results have bolstered Lead Supply’s confidence in pursuing automated approaches throughout their digital marketing. “In general, our experience tells us that the more that can be automated based on data, the better the results” Andreas says. “As the complexity increases with more and more data, it is essential for our success and ability to grow as a company that we apply the most advanced technology to automatically optimise our marketing performance based on the data.”
Going forward, Lead Supply plans to make further use of Google’s automated and data-driven opportunities across search, display and video. According to Andreas, “The seamless integration in the stack enables us to have a very short path from data to insights to actions, as we easily can activate and apply our consumer insights to bid more intelligently, serve more relevant content and reach the user in the right moment across the customer journey.”