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How Sweden’s Leading Financial Services Firm Catapulted Conversions By 7% With A/B Testing

About The Company

Northmill is one of Sweden’s leading financial services provider serving 120,000 customers. The company offers a range of financial products under their brands Easycredit, Credigo and Credway. Easycredit is their financial services wing that provides payday loans to customers even with a history of payment default. Payday loans help customers borrow small amounts of money quickly from the credit company. Easycredit issues anywhere between 500 crowns to 20,000 crowns to its customers depending on their credit history.

We got in touch with Sargon Kurt, co-founder of Northmill, to know all about their successful A/B test.

The Decision to Turn Towards Conversion Rate Optimization

When quizzed about how easy it was for him to turn towards optimization, Sargon responded that he finds it to be a natural component of modern marketing.

If there is a marketing manager out there who does not integrate this into their marketing function, I’d say they are lacking skills or not working with modern marketing.

Sargon elaborates:

We need to measure the ROI. We were clear on that. But the techniques to do that have only started emerging. We are thankful that these tools are available now. We’ve used tracking codes to track the return but now we can test it before we go live. With testing, we can now go to the tech guys and say hey this works, let’s make this live. We have hard facts.

Sargon recounts that after he decided to turn towards conversion optimization, he explored the products that helps with optimization, engaged with their sales teams and talked to a number of customers who had used these different products. Finally the decision to turn towards VWO was made based on two factors – the interface and the service.

What are Their Growth Channels?

Easycredit uses both offline and online channels for marketing their services. Sargon is quick to point out that offline is their biggest strength where they market through national broadcasting, radio, print and even some airline companies.

Online channels are primarily Facebook, through affiliates, ads and of course, SEO.

Structure of Marketing Team

The marketing team consists of six people, two of whom are currently focusing on Conversion Optimization while the other four manage their online channels.

Hiring The Right People for Conversion Rate Optimization

Easycredit’s marketing team works out of Stockholm whereas the other teams are spread across the two countries they operate in. There are two people who are responsible for A/B testing with a strong philosophy of education within the team. ‘Hire for the right attitude and then coach them’, Sargon reveals how he goes about hiring the right people.

The Test – Background and Hypothesis

‘Back in the old days, we used to do what we thought was good in our minds. Look at things and decide on what to do. But the facts and reality can be entirely different. With software like VWO you can actually get the hard facts that users themselves provide.’

Sargon recounts how they came upon the idea for this test.

This is how the EasyCredit Payday Loans page looked before the test:

How the original Easycredit page looked before the A/B test

A Colleague had an idea and consulted Sargon.

Do you think the side form is good?

Sargon: Yes, customers like it.

Colleague: What if we minimized the form and condensed it behind a CTA? 

Collapsing the application form would reduce the cognitive load and let visitors explore Easycredit’s offering before having to decide on whether to fill the application or not. This would retain more visitors on the page and lead to higher application fills.

Why not, let’s A/B test it, Sargon thought.

Based on this hypothesis, a variation was created:

How the variation that was A/B tested looked like

In the variation page, the form could be accessed by clicking on the ‘Apply’ CTA in green at the top right corner.

The test ran for about 5 months and resulted in the variation winning with 7% higher final conversions (applications for payday loan).

Comments on His Experience Using VWO

I’ve been working with VWO for over a year and one of the reasons I love the software is because it’s user friendly and very intuitive. VWO has really succeeded in converting something that can be really complex into something fun and easy.

Of course, there are things we don’t always understand at first but with the state of the art support that VWO offers we get all the answers and help we need.

Are you currently using any optimization tool? We’d love to know your experience with it and how successful your tests have been. Let us know if you have any queries about testing and the right ways to do it. We’ll be happy to help 🙂

Marketing | SaaS | Product. Loves words, people, images, and experiences.

Comments (2)

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    1. Hi Oscar,

      Thanks for your comment. We have only mentioned that it is Sweden’s leading financial services firm. Not the largest. As one of the first companies in Sweden to start giving out payday loans, wouldn’t you agree that it is an accurate description? Here’s the description from

      “Easy Credit was among the first in Sweden to offer this type of loan, also known as payday loans because the loan form is considered to be a quick way to borrow money. Another type of loan form which enables it to borrow money quickly is overdrafts.”

      Please do let us know if this is against facts. I’d be happy to make the edit if that’s the case.

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