Issue
Following Google’s broad core search algorithm update in August 2018, Fair Go Finance’s organic search performance deteriorated with declines in website traffic and conversion rates. They focused their digital marketing efforts on Paid Search Advertising, but increased competition for high-volume search terms led to lost market share and unsustainable marketing costs. Combined with their new business acquisition of Capfin Money, they turned to Bonfire to improve their brand equity and online sales.
Methodology
Fair Go Finance had limited visibility of consumer behaviour across platforms and the return on investment of their conversion funnels. Bonfire studied their analytics and discovered users were dropping off midway through the loan application process on their website. To address these concerns, Bonfire was a critical participant in helping to unify their business intelligence tools to improve data transparency, and overhauled their search engine marketing strategy using a combination of industry best practice and innovation. This included the cancellation of high-cost marketing channels, in-depth technical audits and campaign experimentation.
"Bonfire’s significant experience, local knowledge of the Australian market and forward-thinking approach was a standout when looking for an agency partner to drive the success of our Online Search campaigns. We operate in a competitive vertical but have full confidence that Bonfire will assist in helping our business achieve the goals and objectives that we have set for these channels. Working with one of Australia’s leading Specialist Search Agencies is an exciting prospect and we look forward to seeing the results that they deliver”
Results
Since partnering with Bonfire, Fair Go Finance’s SEO campaigns have achieved outstanding business results. There was a 38% decrease in Cost Per Funded (CPF) from organic traffic. Overall website conversions have increased an incredible 156.68% year on year. In addition, the number of daily website users has exceeded expectations with a 41% increase year on year. The culmination of all these improvements has been a remarkable 95% reduction in their CPF.
