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How We Helped Lendingkart Achieve Business Growth of 20% Through Google Ads

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Lendingkart Story

According to research, the number one problem for small businesses in India is the lack of financing and working capital. Lendingkart is helping them solve this problem by providing small businesses access to working capital.

Identified Challenges

The goal was simple yet daunting. We needed to keep the cost per lead as low as possible while still exhausting the entire Google Ads budget. We knew that we would have to build a multi-pronged, scalable strategy that would serve our clients well in the long run.

Empathy, Research, Brain Storming & Plan

When Lendingkart approached upGrowth, they had disbursed as many as 26,000 loans to more than 19,000 SMEs all across India. At this point, Lendingkart realised that they could generate more leads from Google Ads at a lower cost than they currently were. They were at a point in their journey where they had figured out how to get leads, however, they now needed to scale up their business considerably and make sure that they didn’t massively increase their per lead cost in the process.

Solutions

Here are some of the important elements of our holistic, long-term Google Ads strategy:

  • We identified the latest trends in the world of small business loans to leverage them in our adverts. For example, we used the “59 Minutes Loan” theme to emphasise how easy it is to borrow money through Lendingkart.
  • We made sure that we had different ad extensions in place for different ad groups depending on their theme.
  • We adjusted the ad bids with respect to the city, day, and time to keep the costs as low as possible without compromising on efficiency.
  • We did not go into the campaign with a predefined notion of what the bid strategy should be. We went through extensive experimentation before we zeroed in on the bid strategy that worked best.
  • We also generated awareness about working capital loans through the Universal App Campaign.
  • We did extensive experimentation and A/B testing with different landing pages to make sure that we had the right one.

Conclusion

Our holistic approach to the ad strategy paid rich dividends and Lendingkart’s qualified leads started increasing exponentially. In fact, the improvement in their Google Ads resulted in overall business growth of 20%.

Results we Achieved

https://www.upgrowth.in/wp-content/uploads/2019/02/Down-arrow.png

-32.6%

Cost per Qualified Leads

https://www.upgrowth.in/wp-content/uploads/2019/02/Up-arrow.png

+54%

Total Conversions

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upGrowth Solution

Cost per Qualified Leads

Before

71.4

After

47.7

Decreased by

-32.6%

Total Conversions

Before

56765

After

87465

Increased by

+54%

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