Case study - currency exchanger in Poland
More than 700 visitors per month at $1.72 for a currency exchanger
The Task
We were approached by a client who operates a network of currency exchangers in Warsaw, Krakow, Gdansk, and Poznan. We already had experience advising and auditing projects in this area, so we immediately had an action plan.
Preparing Gor The Launch
We had experience in this area, so we quickly prepared a keyword database for Google Search Ads. We conducted a competitor analysis to understand the needs of customers and what the market players emphasize in their positioning. We paid special attention to the reviews of competitors' points of sale on Google Maps.
Most of the competitors had customer complaints that the exchange rate on the website and on the spot was different. Instead, our customers had the opportunity to book an exchange rate online and then exchange currency on the spot at the same rate.
We decided to “put it on the poster” and emphasize this competitive advantage in our advertising. Accordingly, we wrote texts and prepared advertising banners and video creatives that would catch the client's eye and offer an exchange at the most favorable rate without the need to rush to the exchanger to try to find the perfect moment.
We also made changes to the business's website to improve its efficiency and make it easier for customers to use.
The Launch
We used the following tools for promotion:
Google - Paid Search
Google - Smart Campaigns
Google - Performance Max
Meta - Instagram Video
Meta - Instagram Photo
Meta - Facebook Video
Meta - Facebook Photo
The first task was to inform as many users as possible about the appearance of a new exchange in their city, as well as about the advantageous offers it provides. For this purpose, we used Meta networks. The purpose of the advertisement was to get people to visit the business's Instagram page and book a course through the website.
We developed video and photo creatives that would convey the main points and strengths of the business the easiest way, that would hit the user's pain as accurately as possible and would motivate them to perform the action we needed - to become a customer.
After initial testing, we found that Instagram placement yielded better results. So we turned off Facebook ads and concentrated our advertising budget on Instagram.
We used Google ads to attract customers who already know about our business and are looking for it right now. To do this, we used Paid Search and Smart Campaigns. The purpose of this advertising was to bring the client directly to the exchanger in his city or to get him to book an exchange rate on the website, i.e. to add his contact information to the customer database. We also collected and tracked calls to the outlets, as we agreed with the client that they were micro-conversions.
Later, having gathered a customer base, we started using Performance Max with video and photo creatives, further expanding the number of potential customers who learn about the business for the first time.
Results
The first month
Google
Spent - $1,269.12
Reach - 411,877
Visits to the exchanger - 568
CPA - $2.23
Calls - 66
Applications on the website - 303
Meta
Spent - $474
Coverage - 254 343
Clicks on advertising - 738
Cost per click on advertising - $0.60
Hook Rate - 8.66% ~ 22,026 users
The second month
Google
Spent - $1,242.69
Reach - 340,289
Visits to the exchanger - 661
CPA - $1.88
Calls - 46
Applications on the website - 434
Spent - $837.46
Reach - 503,326
Clicks on advertising - 1099
Cost per click on advertising - $0.79
Hook Rate - 7.90% ~ 39,762 users
The third month
Google
Spent - $1 219.25
Reach - 361 080
Visits to the exchanger - 707
CPA - $1.72
Calls - 50
Applications on the website - 498
Meta
Spent - $1 201.80
Coverage - 151,270
Clicks on advertising - 2030
Cost per click on advertising - $0.59
Hook Rate - 11.01% ~ 16,640 users
General result for 3 months
40-50 clients daily
Average profit per customer - $4-6
Approximate profit for 3 months - $20 520