Freedom Loans are a specialist mortgage brokerage firm that have been specializing in bad credit home loans since 2003.
Freedom Loans approached Arrow Digital as they noticed they were paying too much for leads and not seeing much of a return on their investment. Therefore they needed to increase the quality of their leads and maintain or lower the cost of acquiring said lead.
Increasing leads is not instantaneous and this can be difficult for some business owners to understand, especially when they are losing money.
As a business owner it can be frustrating to hear that you need to invest more money for advertising when you have already invested thousands of dollars and received nothing.
The team at Arrow Digital understood this problem and acted fast.
Together, Arrow Digital and Freedom Loans formulated a strategy around developing engaging content, SEO management and strategically selecting AdWords to target people in the right stage of the buying cycle, who met their geographical and demographic requirements. These keywords were those that best suited Freedom’s end goal – converting leads into paying clients.
In addition to the above, Arrow and Freedom Loans also developed a differentiated offering in terms of giving their target audience what they were asking for – something that no-one in the mortgage brokering industry was offering.
The results of these changes to their digital marketing were measured carefully to ensure success.
Keywords and ads that were not providing an acceptable ROI were cancelled to ensure value for Freedom Loans and in-turn Keywords and ads that were providing a high ROI had their spend amount increased. This was calculated based on loans settled by the company in relation to the adwords spend.
Measurement is such an integral part of marketing that requires diligence work. If you are putting in the work, you want to know what is working and what’s not you can adjust your planning and strategy accordingly.
With this mind-set, Arrow Digital produced a whopping 196 per cent increase in conversion rates for Freedom Loans within the first 3 months.
By one year, website leads increased by a staggering 216 per cent, resulting in massive revenue growth.
From this case study two important messages can be heard:
- Make sure your marketing is being measured. If you are investing money into marketing you need to know exactly what parts of it are working. In this case it meant a change in AdWords.
- Have the ability to analyse conversion rates. If you are able to accurately analyse your conversion rate from initial contact to converting your lead into a customer and what content prompted the conversion using your marketing analytics you will be able to pin point what type of marketing is working, where you need improvement and be able to adjust accordingly.