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Success Story

How VWO Helped Sweden-Based Firm Northmill Increase Its Online Application Conversions

7%
Conversions
169 Northmill

Industry

Finance

Company Size

51–200 employees

Location

Stockholm, Sweden

Capabilities Used

A/B Testing

About Northmill and VWO

Northmill is a leading financial services provider in Sweden. Under the brands Easycredit, Credigo, and Credway, the company serves more than 120,000 customers. Northmill’s Easycredit line of business provides payday loans between SEK 500–20,000 to customers with a history of payment default and who found it difficult to obtain credit elsewhere.

Sargon Kurt, cofounder of Northmill, realized the importance of converting website traffic to customers in a world that was going more online. He was keen to measure the ROI on online marketing and had started using tracking codes.

VWO Testimonial Quote Icon

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 Kurt

Sargon Kurt

Co-founder
169 Northmill

After calculated evaluation of all available options, Northmill selected VWO based on its interface and service. VWO enabled Northmill to test website pages in a controlled manner before making them live.

Objective

Northmill’s offline marketing happened through national broadcasting, radio, print, and even some airline companies. Online channels were primarily Facebook, affiliates, ads and of course, SEO.

Northmill wanted to optimize the PayDay Loan application and increase conversions.

Solution

Sargon strengthened the marketing team, assigning 2 people the task of A/B testing and conversion optimization.

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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 softwares like VWO you can actually get the hard facts that users themselves provide.

Sargon Kurt

Sargon Kurt

Co-founder
169 Northmill

EasyCredit used both offline and online channels for marketing its services. This is what the EasyCredit Payday Loans’ original page looked like:

A colleague asked Sargon “Do you think the side form is good?”
Sargon: “Yes, customers like it”.
Colleague: “What if we minimize the form and condense it behind a CTA?”

The hypotheses was that collapsing the application form would reduce the cognitive load on visitors, allowing them to explore EasyCredit’s offerings before deciding whether they wanted to fill the form or not. The idea behind this hypothesis was that it would retain more visitors on the page and lead to more applications getting filled. This is what the variation looked like:

On the variation page, the form could be accessed by clicking the Apply button in green in the upper-right corner.

Conclusion

The test was run for about 5 months, and the variation won with 7% higher conversions. And with VWO, the optimization process was made easier and more accurate.

VWO Testimonial Quote Icon

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. 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. VWO has really succeeded in converting something that can be really complex into something fun and easy.

Sargon Kurt

Sargon Kurt

Co-founder
169 Northmill

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