Confidas

Confidas

How we decreased cost per lead by 67% for this Venture-Backed Startup

Industry

Financial Services

Location

Romania

Services Provided

Increase in conversion rate

The results

up

263%

Increase in conversion rate

down

61%

Decrease in cost per Conversion

up

263%

Increase in conversion rate

down

61%

Decrease in cost per Conversion

About the company

Confidas

Confidas is an innovative platform that helps businesses get paid faster and avoid high-risk customers.

You can search for any business in Romania to analyse their credit report. Review their credit history and identify adverse information including registered defaults, court actions, insolvency notices and more.

By using Confidas, you can make informed business decisions and better understand the commercial risk you are assuming when working with a specific company.

Challenges

“Acquire leads for a new SaaS, with a low CAC, before launching the product.”

Confidas had just raised their first round of investments and they were working hard on improving the platform’s functionality and preparing it for the official launch.

They wanted to have a successful launch, which meant generating some buzz beforehand, as well as getting people to sign up to use Confidas before the product was live. In order to achieve this goal, they also needed to gain a better understanding of who their target customer was, and how to best tailor their advertising to appeal to different customer segments.

Eduard Burghelia

Founder, Confidas

“I felt that the HOP team was always hands-on and proactive in our relationship, and this allowed us to focus our efforts on other areas within our business. We are very selective when it comes to the partners we choose to work with, but HOP set themselves apart with their extensive data analytics and quantitative research experience.”

User Research

We started by better understanding the business, the market and the target audience.
We interviewed the Confidas founder, talked some of their beta users, and conducted in-depth competitor analysis which involved looking at what sets Confidas apart from the competition and analysing how other players in this market are advertising online and how they are communicating with their target audience through their ads, website and emails.

Web Analytics

It was important to set up Confidas’s analytics & web tracking structure in order to get a better understanding of their website & marketing performance, as well as their user behaviour

User Profiles

We built detailed customer profiles for the main segments that we were going to target, with information about their main goals, desires, fears and objections, as well as the main keywords that each customer segment is likely to be searching online. This information was gathered during the initial research phase.

Advertising & Email strategy

The advertising strategy was based around the user profiles that we have built. We setup very granular targeting profiles in Facebook & Google Ads in order to reach these user segments, and used persuasive copywriting & powerful images & videos in the ads themselves, in order to get the best results.

Execution, Reporting & Optimization

Multiple ad formats, creatives and copy were tested and we monitored their performance closely over the entire campaign period.

1

Reached Lead Generation Target

2

Decreased cost per Lead by 67%

3

Increase in Lead Quality

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