Froda is one of Sweden's fastest growing companies in digital business loans. Their goal is to simplify everyday life for small business owners, both start-ups and well-established, with business loans based on smart credit assessment - and as little hassle and administration as possible.
As a full-service agency with SEM clients in various different industries, challenges are something we face on a daily basis. But, we have to admit that the fintech industry is something out of the ordinary: the word "business loan" has topped the list of Sweden's most expensive keywords for several years in a row.
In 2018, the keyword had an average cost per click of 626 SEK. As many as 65 of the 100 most expensive words in Sweden contain the word "loan" in some form. That says something about how competitive the industry is, so our Google Ads experts rolled up their sleeves.
Our mission was to optimize Froda's Google Ads account to drive as much relevant traffic as possible within the budget, and create new customers to the lowest cost possible. In Google Ads, unfortunately, there is no magic trick that does the whole job (although it would make our work much easier!) but there are thousands of small things and tests we can do along the way.
We worked data-driven according to our established methodology and proprietary Google Ads algorithm. We combined our analytical strengths with the art form of customizing ad messages and optimized landing pages. Our focus was primarily on cost per conversion for Froda.
more conversions
cheaper cost / conversion
applications from Google Ads
As quick as two months later, we had - with the same advertising budget - driven 38% more conversions and reduced the cost per application by 36%. Since we started the collaboration with Froda, the challenge has not decreased, quite the opposite. After a year and a half together, we are proud to have quintupled the number of applications (+478%) via Google Ads.
Working with the extreme competition that comes with Sweden's most expensive search term on Google places high demands on constant development. It requires a good algorithm, to adapt and find new solutions.
Today, we are also proud to have developed several new successful digital channels on behalf of Froda. As a full-service agency, we know that the results for our clients are best when we can combine and work with several digital channels. Therefore, we are happy that our collaboration today include, for example, YouTube, conversion optimization, SEO, Facebook and social media as well as collaborations with Google. The methodology is the same as Google Ads - to constantly analyze, test new initiatives and optimize for maximum results.
At Digital Dominance we are happy and proud to accompany Froda on their journey to simplify the everyday life of small businesses!
For us, Google Ads is an important digital channel where we wanted to continue to grow in a smart way. We have worked with Digital Dominance in previous projects and wanted to see them rise to the challenge in the fierce competition that prevails in the business loan industry.
Contact us using the form below and we will get back to you as soon as possible.
