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CashAdvance.com

CashAdvance.com is one of the leading Web-based payday loan and cash advance businesses. Users of the CashAdvance.com site enjoy a sense of privacy and security not found at typical 'brick and mortar' locations. While ownership of the CashAdvance.com name was a big win for this company, their Web site did not accurately reflect the demographics of their existing customers, nor of the customers whom they hoped to serve.

There were four main goals for this project:
  • Conduct extensive marketing research, marketing planning, and business analytics to truly understand the existing customers and brand awareness. Utilize data mining tools to break Cash Advance's existing customer data into logical groups.

  • Use knowledge of competitors and the market to hone the marketing and sales efforts of CashAdvance.com and gain a larger profit margin.

  • Change the brand identity of a company without abandoning current customers while maintaining existing business and extending the new brand long-term.

  • Create a new Web site to reflect the new brand and increase sales and marketing strategy.
Creation of a new brand, more upscale than competitors’, thus creating a different and more
captive audience.

At Rhino, we believe that brand should be driven by an understanding of a company's clients. CashAdvance.com allowed us to prove this theory correct. Using research models, existing information contained within the customer database, log files, and Webtrends reports, we were able to analyze current customers in terms of their demographics, geography, income levels, spending behaviors, and usage of the site. Competitor research collection and analysis, coupled with interactive marketing planning, enabled us to gain understanding of the market as whole, in terms of customer behavior as well as competitor spending and marketing habits.

The information gathered from this research and analysis proved that CashAdvance.com had a different clientele than most of its competitors. It also revealed very distinct geographic, educational, and occupational groupings, which allowed us to create a site that was geared specifically to these users. The results of our business analytics drove the user interface, design, navigation, and content of the newly created site. We then used the marketing analysis and planning to map out the year's advertising dollars, shifting many of them in new directions.

The end results:
  • Reduced costs by using enhanced search engine optimization to drive more organic traffic to the site.

  • Increased repeat customers – and, consequently, profit margins - by creating a better user experience.

  • Reduced advertising costs by tracking expenditures, monitoring results, and making adjustments on an ongoing basis.

  • Created a new brand, more upscale than competitors', thus creating a different and more captive audience. Everything from user interface to logo was created with the brand in mind.
 
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