To stay competitive in the competitive vehicle hire industry, this client needed to significantly increase their market share. Previous measures to increase booking volumes had been counterproductive, generating more business but at a much higher cost per conversion.
Adrac was called in to devise a long term strategy that aligned with business growth targets and stimulated bookings but minimised cost per conversion increases. Our mission was simple – to deliver market share growth with as close to a static cost per conversion possible throughout that growth phase. Simple to say, tricky to achieve.
Adrac made a business case for a paid search campaign, backed with strategic insight and growth forecasting. Fast forward two years and our client has recorded a consistent increase in market share with a 12% reduction in the true cost per booking. With a 31% increase in order value as well, the paid search campaign has performed as expected. ROI is up by 29%.
Demonstrating just how on the nose our forecasting was, bookings grew 6% in year one to more than 16% in year two. Cost per conversion increase was a negligible 2%, offset by the increased order value and lower true cost of each vehicle hire booking.