Work/CarMoney

Accelerating paid performance for CarMoney

CarMoney is a car finance broker, also known as The Car Finance Ninjas, comparing the UK’s top car finance lenders so customers don’t have to saving both time and money. They provide a simple process that ensures fast approval and makes life as easy as possible. This campaign won Best PPC Campaign at the UK Search Awards 2021 and Best Use of Search Finance at the European Search Awards 2022.

75%
increase in conversion rate in-platform
78%
increase in conversion rate for internal enquiries
60%
increase in average monthly volume of internal enquiries

The Brief:

Carmoney.co.uk had worked with agencies prior to engaging with us and found that limited meaningful progress had been made over the years, resulting in an outlook that their potential in the market had been maximised.

The client noted that Conversion Rates internally were largely fluctuating and CPAs were on the rise without any gain in volume. The erratic data accumulated polluted the visibility of what was working and what wasn’t, making it harder for the client to make decisions internally.

We were raring to go to implement significant expansion to facilitate growth and achieve the quality volume that would satisfy the internal demand of CarMoney’s sales team.

Our strategy for CarMoney is broken down into three key areas:

  • Data: Utilise all available in-platform, internal data and market research to effectively understand CarMoney’s current position and potential from the outset and throughout.
  • Build: Renovate salvageable campaigns and implement a solid core structure of targeting from which expansion can be efficiently sourced throughout short and long term cycles.
  • Communication: Develop a seamless relationship with key stakeholders to ensure a proactive rather than reactive approach is undertaken and performance is comprehensively understood.

The Evolved Approach:

We’re committed to helping our clients achieve their potential. We want to add value wherever possible and make an impact. We make a conscious effort to help clients understand PPC and what activity actually means to the wider digital strategy.

We don’t like meetings just for the sake of having them and we’re not about flaunting above-industry benchmark metrics or conversion volume if you’re not seeing the benefit. We want the full low down on what makes your business tick so we can help it get even better and grow. 

We love meetings that add value which is why our communications with CarMoney revolve around what matters most:

  • Required lead volume to meet the demand of CarMoney’s internal sales team.
  • What’s next for strategic implementation
  • The competitor landscape from an in-platform and internal business perspective both short and long-term.
  • Website recommendations regarding user journey.
  • The value of conversions throughout each stage of the marketing funnel.
  • Data & Reporting
    Harnessing customer data and audiences to enhance the quality of users captured and exclude unviable customers.
  • Regular review of internal CRM data to capture keyword level performance and utilising results to enhance investment opportunity.
  • The creation of quality custom reporting for a clear view of performance for all stakeholders with maximum automation

Account & Campaigns

  • A rebuild of campaigns when onboarded to re-categorise keyword cohorts distinctively to maximise coverage and traction.
  • Creating a setup that both protects core areas and can leverage increased volume whilst keeping the foot in the door for new opportunities efficiently.
  • Increased segmentation of keywords to increase relevance based on their semantic and lexical composition.
  • Overhaul of negative keyword lists and reduction of cross-contamination of terms between campaigns to improve auction quality and the bottom line.

The Results:

Our work with CarMoney not only helped the client understand their true potential in the marketplace but it also helped them scale whilst increasing lead volume by 114% in year one.

The client’s mindset was able to shift away from cripplingly low CPAs and CPCs which previously constrained growth.

On top of this, the Evolved Search paid marketing team exceeded CarMoney’s ambitious lead targets and increased both the internal conversion rate and acceptance rate for finance applications year-on-year.

Throughout this time, our Paid team assisted CarMoney in satisfying the ever-changing demand of the sales team as they grew and encountered staffing challenges as a result of Covid-19.

The outcome of these fantastic results has allowed CarMoney to continue on its growth trajectory and expand the sales team further and seize international opportunities.

Campaign Impact

28%
increase in clicks
89%
increase in click-through rate
51%
lift in CVR

Ready to connect the dots?

Get in touch to discuss your strategy and performance marketing needs.