Redefining the second-hand store experience
Cash Converters is an internationally franchised retail network that specializes in second-hand goods and also provide short-term loans. Started in 1984, Cash Converters has grown from a single store to now more than 150 locations throughout Australia and 700 worldwide. Cash Converters excels at changing consumer perceptions of its industry through the systematic application of modern retailing practices, professional management techniques, and high ethical standards to the management of its stores.
Since adopting Marin, I’ve been able to significantly reduce time spent doing reports. I’ve also seen an increase in impression share on brand terms while holding a desirable CPC and maintaining our target CPA in Personal Finance generic term campaigns.
Cash Converters seeks to increase impression share
While Cash Converters began their business with second-hand retail goods, they have also been rapidly growing their short-term loans business. As part of their growth strategy, Cash Converters was looking for a platform to help them increase brand awareness, acquire new customers, and compete with other big-name competitors. They selected Marin Software to help them streamline their workflow, manage bidding, and provide insightful reporting.
Flexible bidding and effective attribution
Cash Converters began leveraging Marin’s powerful bidding algorithm, which gave them the flexibility to target their specific business objectives. This allowed them to maintain their target CPCs and CPAs, while increasing the number of brand impressions. Cash Converters was also able to save time on reporting by taking advantage of Marin’s web query reports, which allowed for easy integration and consolidation of reports from Bing and Google into a single file. Marin’s web query reports also made it easier for Cash Converters to report on approved loans instead of having to manually matching data in Excel spreadsheets.
Additionally, through Marin Revenue Upload By Order ID (RUBOID), Cash Converters has been able to track approved online loans, providing their team with better attribution insights they can use to optimize campaigns.
Achieving desired results
Since onboarding with Marin, Cash Converters has been able to streamline their online short-term loans operations resulting in positive and measurable results. Their brand impression share jumped from around 70% to 90%, and their average CPC dropped by 20%. This has resulted in more opportunities for optimization and significant improvements in productivity, cost per acquisition, and time-savings.
Specific results include:
- 20% lift in brand impression share
- >10% decrease in average CPC
- Time-savings from reporting