Creditas Mexico use Bid Multipliers to reduce CPA by 16% and boost conversion volume by 16% in two weeks
Challenge
Creditas provides customers with an online platform for home and auto loans, insurance, and financing. With successful entry into the Mexico market, the team deployed an omnichannel strategy across paid search and paid social to increase qualified leads. Creditas México was now looking to increase lead conversions on Meta while decreasing its cost per acquisition.
Solution
The Creditas México team worked closely with Skai’s Client Success team to identify new opportunities. To make the most of campaign budgets, the Skai team recommended Bid Multipliers, which help prioritize budget to a segmented audience, to boost efficiencies and drive informed decision-making.
The Skai Client Success team exported and analyzed the Creditas México data from Meta to understand what performed the best in the last month across nine audience segments. Having a drill-down of this data and audience insights enabled the team to create a custom formula to increase or decrease bids proportionally to the average CPA of the ad set. In order to not affect lead volume, the team kept bid decreases to no more than 20%.
Results
The strategy and collaboration implemented by Creditas México and Skai’s Client Success team yielded impressive results. By carefully managing bid decreases to avoid reducing lead volume, they achieved a 16% decrease in CPAs and a 16% increase in conversion volume within just two weeks. This data-driven approach effectively optimized campaign budgets, showcasing the value of targeted bid adjustments and informed decision-making in enhancing overall campaign performance.
“Combining data and the Skai feature, the bids multiplier helped us to focus on ranges that really brought conversions to the company.”
Luis Miyamoto Guerrero
Marketing Manager
About Creditas MX
Creditas México is a leading financial services company, providing loans to people in Mexico. Learn more at https://www.creditas.mx/
Solution used
