Targeting small businesses, iZettle cuts cost per conversion by 20%

As a way of helping small businesses take payments, iZettle introduced one of the world’s first mini chip card reader and software for mobile devices back in 2010. Today iZettle’s commerce platform gives small businesses in Europe and Latin America tools to get paid, sell smarter, and grow. To foster its own growth, iZettle’s Media team was on the hunt for ways to attract potential new users without ballooning their budget.

About iZettle
Financial technology company
Headquarters in Stockholm, Sweden
Founded in 2010
Goals
Increase upper funnel awareness
Acquire new customers while keeping budget under control
Approach
Launched smart display campaigns
Set up pay-per-conversion payment model
Results
Decreased cost per conversion by 20%
Increased assisted conversions by 52%

Swedish financial technology firm iZettle wanted to drive conversions, specifically new merchant signups. They also wanted to target their marketing campaigns to reach a specific niche audience in the upper funnel – small business owners.

To allow iZettle to expand their business and reach out to new customers while still hitting their cost per acquisition targets, the team overhauled all their display marketing activity. With a new structure in place, they set up different conversion actions at each stage of buying life cycle. For driving new customer acquisitions, they launched smart display campaigns and set up a payment model whereby iZettle pays only per conversion.

Smart display campaigns use Google machine learning to automatically connect businesses to prospective customers who may be interested in their products, create ads that fit anywhere across the Google Display Network, and set the right bids to meet the advertiser’s performance goals.

“With continued innovation and great support, smart display has become the go-to marketing tool for all our display campaigns.”

– Dhanush Raja Lakshmanmurthy, Display & Video Specialist, iZettle

Switching to this automated approach led to an overall increase in both upper funnel awareness and conversions for iZettle. Assisted conversions grew by 52% while the cost per conversion decreased by 20%. The new tactics also enabled the team to scale the campaigns to new markets, proving especially helpful in smaller markets where traffic volume is limited and targeting the right audience can be tricky.

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