Smart Money Capital: Lowering Acquisition Costs and Boosting Conversions

Smart Money Capital

Smart Money Capital is one of the fastest-growing online lending companies in the industry. They take pride in helping individuals and businesses get back on track with low-rate personal and business loans. Their mission is to make borrowing accessible and affordable.

Challenge

Smart Money Capital aimed to reduce their customer acquisition costs while increasing conversions. Traditional methods, like mailers, were costly, with mailer acquisition costing approximately $1,200. Additionally, the average cost per lead was between $20 and $30, which they aimed to decrease.

Solution

1. Leveraging First-Party Data for Better Targeting: Smart Money Capital utilized their first-party data segments to generate more conversions, decrease the cost of acquisition, and provide relevant experiences across all devices for their audiences.

2. Extending Reach with Device-Targeted Advertising: By connecting first-party customer data to device IDs, Smart Money Capital scaled their in-app reach. They onboarded their CRM data into Eva’s platform, which automatically matched this data to unique digital identities found across the open internet. This allowed them to reach the right audiences on the right devices.

3. Delivering a Personalized Brand Experience: Smart Money Capital extended their first-party data outside of their known environments, targeting premium websites and in-app interactions. This strategy led to incremental sales over time. They relied on advanced algorithms to identify contributing user devices and made real-time decisions based on this data.

Results

Cost Reduction: By optimizing their first-party data usage, Smart Money Capital reduced their cost per acquisition, with Eva’s cost per acquisition calculated at $312, a significant reduction compared to traditional methods.

Increased Conversions: Through precise targeting and personalized experiences, Smart Money Capital saw an increase in conversions, helping them scale their business effectively.

Conclusion

Smart Money Capital’s partnership with Eva allowed them to effectively reduce customer acquisition costs while increasing conversions. By leveraging first-party data and advanced targeting technology, they were able to provide a relevant and personalized brand experience across the entire customer journey, ultimately driving incremental sales and achieving their campaign goals. This case study demonstrates the power of utilizing data-driven strategies in today’s competitive digital landscape.