Froda was founded in 2015 with the vision to create the world’s smartest financial service for business owners. As of today, it is one of Sweden’s fastest growing fin-tech start-ups. With modern technology and processes in terms of credit rating, Froda offers a service that is reasonably priced while saving time, money and energy for their clients.

With the help of Ingager, the objective for Froda has been to increase the relevance of their Facebook advertising and to direct the ads towards their niched target audience. The aim of a successful campaign was to increase and measure the number of applicants for corporate bank loans. The scope of work also includes increasing brand awareness – to spread the word of Froda and the service they provide.

Objectives:

• Increase number of applicants
• Increase brand awareness

The objectives set for the collaboration and the campaigns that followed were measured on the following metrics:

• Increase brand awareness
• Increase number of applicants
• Lower CPA
• Increase conversion rate

To be able to succeed, an analysis of the current target group and results of previous campaigns was executed. Based on this, we developed a strategy with the main objective to target the following:

• Potential applicants as well as applicants who had a good credit rating and would be granted the loan
• Entrepreneurs and small business owners who were likely to apply for a business loan
• Define the time set of the different target groups. i.e., restaurant owners in March before the summer season

By increasing the relevance of the ads, as well as the targeted audience, Froda has been able to measure successful results on the objectives that were set in the beginning of the collaboration.

Froda offers a niched service, that in comparison to other consumer goods, has a very complex conversion. The potential consumer belongs to an already very specific group, where the consumer does not only have to be interested in the service offered but also must be qualified for it as well. Ingager was able to succeed in terms of the goals set by continuously developing the strategy, optimizing the ads as well as an in-depth analysis of the potential customers; resulting in a great conversion rate.

By narrowing down the target groups and finding the right audience, the cost per acquisition, applicants of loans in this case, decreased with -66%

By targeting the correct audience, during the right period of time, conversion rate, a complete registration in this case, increased with 2,1%