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Achieving ₹50 Crore In Pledge Value: Our Game-Changing Strategy For Manappuram Gold

Manappuram Finance Ltd. is one of India’s leading gold loan companies, operating 4,199 branches across the country. With an ambition to expand its financial services beyond gold loans into home loans, vehicle finance, microfinance, and MSME loans, Manappuram aimed to strengthen its digital outreach to the mass market.

Client’s Business Goals

  • Increase Quality Leads:Lower the cost per lead (CPL) while improving conversion rates.
  • Boost YouTube Presence:Increase subscribers and visibility for three primary service categories: Doorstep Gold Loan, Takeover Gold Loan, and Business Gold Loan.
  • Encourage Higher Borrowing:Motivate customers to increase the pledge value.

Challenges

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High CPL and Low Efficiency:

The company faced challenges with high CPL and low conversion rates, which were under 10%.

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Landing Page Issues:

The landing page experienced downtime after 6 PM, impacting lead generation during peak hours.

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Budget Allocation:

The “Loans Section” attracted traffic but failed to contribute to higher pledge values.

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Low Pledge Values:

Customers were not opting for higher loan amounts, limiting revenue growth.

TechShu Solutions

  • Full-Funnel Tracking:
    • Implemented comprehensive tracking for the Doorstep Gold Loan, Takeover Gold Loan, and Business Gold Loan landing pages to monitor user behavior and optimize the marketing funnel.
  • Budget Reallocation:
    • Identified underperforming areas and recommended reallocating the budget from lower-conversion loan categories to “Brand Loans” and “Gold Loans,” maximizing potential revenue.
  • Resolving Landing Page Downtime:
    • Diagnosed the cause of the landing page downtime and proposed client-side fixes to ensure continuous lead capture after business hours.
  • A/B Testing:
    • Conducted A/B tests for the landing pages of the Doorstep Gold Loan and Business Loan services to optimize page design and improve conversion rates.
  • Keyword and Content Optimization:
    • Focused on high-quality, location-based keywords for targeted traffic and better campaign performance.
    • Suggested content changes to maintain alignment with optimized wireframes, enhancing user experience.
  • Lead Management System (LMS) Tracking:
    • Monitored keyword performance within the LMS to identify and optimize high-converting terms.

Results

78K+

Leads generated through ads.

40%

Reduction in CPL, leading to substantial cost savings.

30%

Lower CPL compared to the initial target.

Over 25%

Increase in the conversion rate, up from below 10%, within 3 months, peaking in July.

16.9

million impressions in YouTube in 2 months

67%

Growth in YouTube conversions in June compared to May.

Remarkable YouTube Growth:

Subscriber count increased from 88K to 155K.

Project Extension:

Due to the outstanding performance, the initial 3-month project was extended to a full year.