A UK based firm Motoreasy offers various auto and car care services to their customers. Motoreasy excels in services by providing quality standards and effective warrantee insurance practices at their end. For the same purpose, Motoreasy run website where they sell policies and they also have a 24 hour telephonic support sales team. Some of Motoreasy services are shown below:
- Breakdown Servicing
- UK & European Breakdown Recovery
- Accident Assistance
- Legal Assistance
- Uninsured Loss Recovery and many more.
Motoreasy’s Business Objective: The Company is present in all marketing perspective and media channels including affiliate marketing with the help of which they managed good relationship with large online properties such as newspaper etc. They rooted deep down in Search Engine Optimization (SEO), and PPC campaigns. Motoreasy also run TV and print advertising, direct mail, PR and all the other aspect that any firm will think of having when it comes to market its product/service. Web site is designed to give customer a quote for an extended auto warranty which involves filling up 3 short forms to finish all the processes till payment. If a customer want to sign up, then again there are another 3 forms he/she must finish up filling before getting into credit card processing. In this era where people don’t have time to relax, obviously nobody will go for such a long and lengthy processes. So the dilemma was that they wanted to improve their performance with respect to ROI without spending more than actual forecasted or planned budget.
Approach / Strategy Adopted By Motoreasy: Keeping in mind that Motoreasy is selling a financial product which requires heavy confidentiality protection and adherence of some legal credentials, they focuses on two aspects of online marketing strategy:
1. Cost per acquisition: (nothing but cost of engaging people to do required Target Action as per requirement of your website)
2. Conversion Funnel: (nothing but the path followed by visitors from landing page to other pages or a that page where Target Action can be achieved)
Some of the approaches implemented by Motoreasy are given below:
- Motoreasy found that some people who started quote process failed to do it. So they revamp all their quotes rate.
- It’s very important to know the Conversion Rate for every single page than that for the path as a whole. After analysing Conversion Funnel Motoreasy concluded that people are not getting only fatigued but they aren’t able to understand the contents of the forms properly. So Motoreasy redesigned the form structure somewhat user friendly keeping in mind that content should look formal.
- They highlighted messages regarding benefits of the product at top-right quadrant which is the first place people used to look at.
- They shifted terms and conditions tab to the bottom of page.
- Prominently showing telephone number at top along with very short contact form is an additional help given to customer if they find difficulties while fulfilling their details.
Result: By putting content around the form which kept pushing the benefits, motivated people to start the quote process in the first place. Dropout rate reduced from 65% to 29% overnight resulting Motoreasy to achieve above average performance. Half of the customers who were finding problems in completing the quotation process used the telephone number/contact form. The problem was the absence of the “marketing message” from the forms. Motoreasy wanted to motivate the customer to complete the sign-up process. The message was already appealing to many, therefore, all they needed to do was continuous reinforcement of same thing, which resulted them into an increase in completion rate from 31% to 69%. With the help of web analysis and redesigning, Motoreasy increased its business four times without spending a single penny in less than 3 months.
Learning: The learning out of this case study was that an effective marketing strategy doesn’t require to spend you a lots of money but to do well analysis of your site’s Conversion Rate, Conversion Funnel, and behaviour of visitors. You need to seek attention on various paths and Target Actions associated with them, if in case they are underperforming. What Motoreasy did is core marketing strategy i.e. let people know what you want them to do [in this case fill in the form], and then inform them the benefits of doing so [in this case people’ll get a quote which could save their money]. In short, they were selling the visitor on the benefits of finishing full form to convert them to valuable customer.