We were approached by a realtor worried with the agency he was working with and wasn’t happy with the performance. Leads generated were for potential clients interested in booking freehold residential condominiums, the funnel completes when visitors have reserved a meeting and paid a certain percentage of the booking fee (refundable).
At the time the client reached out to us, we quickly noticed some common mistakes and explained what actions can be taken to reduce cost per lead.
Cost Per Lead is the end goal and an outcome of strategies being followed, in order to reduce CPL, the first step was to identify problems with the flow. One common mistake we found was the usage of highly edited images/thumbnails of videos which were suffering from ad blindness, their current CTR (click-through rate) was 0.83% which we were able to fix by testing different images/thumbnails using our creative sandbox campaigns. The CTR jumped from 0.83% to 1.93% which means getting twice the number of clicks in the same exact budget. Later on, we breakdown the client’s funnel from a one lengthy form and divided into 3 stages, which right away helped increase the conversion rate.
Overall, only after a few weeks of testing and improving, client’s Avg. Cost Per Lead reduced from $81.62 to $15.86
We were able to maintain above 15x ROAS for the client within a few months of account handling.
Aforementioned results are for an ecommerce brand who reached out to us for a seasonal product, we had our first month contract signed and the journey began with one month performance evaluation. It was challenging as we knew nothing about the product and their targeted audience, however with the help of our proven strategies, we were able to maintain 4.13x ROAS while generating $40,000 for the client within the first month of launch and that is with prospecting campaigns only. It didn’t take us much time to launch sandbox campaigns where we performed our creative test and later on proceeded with audience testing. Right after launching our first few campaigns, we started generating some sales and that’s where we understood the potential of the product. We were only using broad audiences at this stage and yet maintained over 4x ROAS for the month.
The case study is dedicated to another realtor who wanted to target property owners who had their properties either suffering from stagnation or about to enter stagnation phase.
Our goal was to bring bookings for consultations, the audience was separated into 3 sections.
The results came in at $120,000 generated via consultation bookings with only $7000 budget spent, achieving a whopping ROAS of over 16x.
Here is how our execution looked like for a local streetwear brand.
We started with different video and image variations and monitored CTR and Impression to Link Click ratio in order to analyse creative quality.
Once we had an idea about winning creatives, interests were segmented into groups in order to create an audience sandbox campaigns, CPM was mainly monitored in order to analyze the performance.
UTM / Tags are always created in order to efficiently analyze performance and monitor which particular campaign is giving us results.
We launched our Phase-1 campaigns using broad audiences, during our prospecting phase, the goal is to find broad audiences which are generating results for us, at this stage ROAS is not the main goal as later on with lookalikes or retargeting campaigns, the problem can be tackled.
Once we had enough conversion, we launched our Phase-2 campaigns, narrowing down the targeted audience by demographics, launching re-marketing and re-engagement campaigns
Next, we had our campaigns launched with lookalike, that’s where we are able to maintain healthy ROAS and scale at the same time.
If you are focusing on video ads, launch campaigns using broad audiences, generate 10,000 video views and create lookalike from 95% video views.