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Success Story

CreditLoan® Increased Revenue by A/B Testing

22.09% Revenue

About CreditLoan

Started in July 1998, CreditLoan® is an online platform designed to educate millions of consumers on finance-related issues. They’ve helped over 750,000 customers by providing clear information about personal loans, credit cards, mortgages, student loans, refinancing loans etc. They also facilitate practical tools and solutions that everyone can use.

CreditLoan® is one of VWO Engage’s top clients. The company has been using our services for a long time now. We got in touch with Daniel Wesley, Founder, CreditLoad, to understand how they’ve been using our push notification tool to increase their engagement rate.

Goals

The company’s main objective was to increase user engagement in their blog and website homepage.

Observations

CreditLoan® has been using email marketing to engage with its potential customers. Over the years, they noticed that the average open rate for their emails was as low as 1.5%. CreditLoad understood that they needed to opt for a new marketing channel to allow them to directly interact with their audience and build lasting relationships them.

Tests run

While conducting an extensive research, Daniel Wesley discovered that push notifications on mobile were receiving an astounding open rate of 40% for the finance sector. This made for a compelling reason for the company to add push notifications to their marketing outreach initiatives.

Daniel and his team, with the help of VWO Engage’s push notification services, researched industry best practices and engagement metrics such as clicks and unsubscribe rate to capture the attention of their audience. Based on this study, they decided on a push notification frequency of three messages per week — every Monday, Wednesday, and Friday.

They realised that their homepage and blog were the most frequently visited pages by visitors and decided to place their ‘Opt-in’ message on both these pages to increase their subscriber base.

Conclusion

After using VWO Engage’s push notification services, CreditLoan® saw a 350% rise in user engagement. Their repeat traffic grew significantly, with consumers spending more time on the website than ever before.

Here’s a quick glimpse of what CreditLoan® achieved using VWO Engage’s push notification services:

  • Their first notification itself helped them gain their first set of 230 subscribers.
  • Improved visibility with their consumers – some of whom were not even aware about the content that CreditLoan offered.
  • In comparison to the previous month, their push campaign demonstrated a 22.09% lift in their revenue.

VWO Engage helped them achieve a CTR of 8% as compared to 1.5% through emails.

63 Creditloan

Location

Florida, USA

Industry

Finance

Experiment goals

Increase in user engagement

Impact

22.09% increase in Revenue

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