Using Paid Search to launch Wonga in Spain

Wonga, one of Britain's fastest-growing technology-based finance firms, acquired the Spanish, short-term loan provider, Crédito Pocket (CP), as part of its international expansion plans.

Wonga Spain website

Objectives:

Wonga had planned to rebrand CP and launch the new Wonga Spain brand. They sought out help to achieve the following:

  • Manage all of CP's search-marketing activities until the Wonga Spain launch.
  • Create & design a PPC account to be used by Wonga Spain upon launch.
  • Reduce cost per acquisition (CPA) by 13%
  • Increase conversions whilst decreasing CPA – Wonga insisted volume would be key for Wonga ES during the rebranding process.

Strategy:

With the objectives set, we began working on the account and set out to develop a strategy which would effectively target Wonga Spain's target market after it had launched: tech-savvy, young professionals who are unable to access short-term loans from traditional banks.

Instead of waiting for the launch of Wonga Spain to create a new set of campaigns, we devised a unique strategy: we would create two sets of campaigns, one which would be used under the CP brand to gather insights into the target market, and the other which would be used once Wonga Spain had launched.

Results:

Our initiative to create a two campaign strategy to gather the insights into Wonga Spain's target market, not only worked, it surpassed all expectations!

  • Reduced average CPA by 43% (client's target: 13% decrease)
  • Conversions increased by 76%
  • Increased CTR by 385%
  • Decreased average CPC by 44%
  • Quality Score (QS) sky rocketed from an account average of six to an account average of nine in just four months!

Quote from the client:

“I´ve worked with many PPC agencies, but Periscopix has surprised me with the extent of detail they put in their campaigns. They played a key role to surpass all our goals in much less time than expected. It's a pleasure to have them on our team!"

Fran Nagaro, Online Marketing Manager, Wonga Spain

Download Case Study

Click on the image below to download the Wonga case study.

Campaign accolades

  • european-search-awards-2014
  • Finalist-badge
  • DNA Nominee-jpeg