BankBazaar, the paperless platform for instant approval on financial products has announced that the company is doing positive unit economics, i.e., the revenue it gains per transaction is higher than the marketing and operational cost for that transaction.
BankBazaar Traffic Growth
During the announcement, BankBazaar also shared its growth in unique visitors. The company used to get 7 million UVs on an average until Oct 2016, which grew to 14M UVs at the close of January 2017.
Approx. 56% of the traffic to the site is through the mobile website. The company also revealed an approximately 20% reduction in cost per unique visitors via paid channels for credit cards and more than 50% less spends to get unique visitors for overall loans.
Personal loans contributed the most with 67% reduction in cost here.