Before working with Performance Horizon, comparison site InfoChoice had limited visibility of real-time campaign performance.
The challenge in a nutshell
InfoChoice is one of Australia's largest comparison sites for financial services, promoting everything from credit cards and home loans through to savings solutions and personal loans.
Sites like InfoChoice depend heavily on real-time, comparable data to optimize performance. But with commercial models ranging from cost-per-click (CPC) through to cost-per-approved-application (CPAA) all dealt with separately, it wasn't easy to compare campaign profitability and benchmarks within the business.
On top of that, the data coming from financial institutions wasn't very timely, making real-time performance management almost impossible.
The challenge in detail
For InfoChoice, reporting from legacy systems was preventing them from finding ways to optimize campaigns.
There was no shared data between InfoChoice's and the brands' legacy reporting systems. So the comparison site had no visibility once customers clicked out and left for other sites.
That meant they were reliant on CPAA data from the financial institutions themselves, which often only came once a month, as the reporting was done manually.
Because so little was automated, the data was very high-level, limiting the real-time insights InfoChoice could gather. For example, knowing the total number of approved applications didn't tell InfoChoice anything about the role click-outs from the site had played in conversions.
The lack of real-time data was challenging InfoChoice to efficiently manage campaigns. Because they couldn't see what was happening in real time after customers clicked out, they couldn't understand the causes of dropoff or conversion – or look for ways to improve and optimize. And they couldn't prioritise campaign placement based on performance.
Insights from Performance Horizon have transformed what InfoChoice can do.
Now that several of the financial institutions working with InfoChoice have moved over to Performance Horizon, real-time, in-depth reporting has started to give InfoChoice the insights they've been looking for.
- Infochoice can now dynamically prioritize campaigns based on performance and market environment
- Shared data means InfoChoice can better engage financial institutions to drive more profitable sales - for example, the shared visibility on dropoff rates between click-outs and approved applications means they can work together with brands to improve this metric
- Less time and effort is needed to reconcile results and payment
"At InfoChoice, our vision is to be the No. 1 performance-based comparator of financial products. We see Performance Horizon as a partner who can help us realize that vision."
Moving over to Performance Horizon has paid dividends for brands and for InfoChoice.
InfoChoice has seen strong improvements in revenue generated from campaigns with insights from Performance Horizon.
On one campaign for financial services brand Westpac, Infochoice improved their revenue by over 90% once real-time, in-depth data gave them the insights to optimize media acquisition and deliver more valuable potential customers.
The comparison site is now exploring how to deploy Performance Horizon's technology to drive positive results with more campaigns – and by having an end-to-end view from channels like search engine marketing and CPAA.
"The power of real-time statistics is enabling Infochoice to make smarter decisions with our marketing investment and create better value for our clients ‐ to the extent that we wish all our clients could use Performance Horizon."