GoodRX See 26% Increase in Conversions with Marin
A little about GoodRx
GoodRx is a comparison shopping and couponing site for prescriptions, also available through a highly-rated app. Customers simply enter the name of any drug they’ve been prescribed and type in their zip code, and GoodRx shows the lowest price they can find at local and mail order pharmacies for a variety of dosages and quantities. In addition, GoodRx provides free printable coupons to further discount prices. Their primary mission is to help consumers save money and make better choices when filling their prescriptions.
Advertising in the pharmaceutical industry presents several challenges for GoodRx. The company must comply with strict federal advertising rules, trademark laws, and detailed policies set by Google and Bing. GoodRx also faces stiff competition from pharmaceutical companies and big box pharmacies with extremely large marketing budgets. Bidding on the same drug names can be very costly, and the team must be careful that their strategy does not disrupt business relationships with the pharmacies who accept their discount coupons. Faced with high costs per acquisition, GoodRx needed a solution to help them hit their targets and stay competitive.
“It’s an easy decision to use Marin over a number of other tools, especially based on the ease of use and powerful bid policy. We have an aggressive CPA, and Marin does a great job of maximizing the overall conversion numbers while keeping costs down. The customer service is also first-class.”
Jim Spehn, Search Engine Marketing Lead, GoodRx
GoodRx selected Marin Software for its flexible bidding rules and high level of customer service. They started by implementing Marin’s automated bidding algorithm across their Bing campaigns. Based on specific drug names, the team segments their campaigns and sets specific and aggressive CPA targets. As their goals shift, GoodRx is able to easily adjust bid policy and adapt their campaigns. GoodRx also utilizes Marin to bid to position, for example if they want to maintain the number one position for queries around a particular medication. Finally, the GoodRx team uses the platform to generate robust daily and weekly reports to guide more informed decisions, and quickly act on the data using Marin’s clean and intuitive user interface.
Since implementing Marin, GoodRx programs have become more efficient and the team has had more time to test additional marketing efforts on Google Display Network, Twitter, and other channels. They have also seen a significant drop in CPAs and are now hitting their targets. Specific results include:
- 35% decrease in CPA
- 26% increase in conversions
- Maintaining specific positions on the SERP
- More time to try other channels