YES, you saw that right!
$5 per lead, that too for monthly LAUNDRY subscription. How cool is that?
This client approached us with a goal – “Get me 100 leads in 30 days within $70 CPA”. But with high-level targeting & custom lookalikes, we just didn’t get him the leads but also lowered the CPA to merely $5.75.
The cherry on the top was the average conversion rate was 63%. Yes, out of 100, 63 became actual customers.
How did we achieve it? It’s pretty simple yet commendable.
Read below the factors that played the most significant roles in achieving the target:
Factor #1 – Creatives
The creatives that we used were highly targeted to the stage in which the customer was present in.
For the COLD audience, we used general videos showing hitting them with different angles like “no time for laundry?”, “busy professionals”, etc.
For the WARM audience, we showed them how our service actually works at the backend, how door-to-door service actually happens & how they can just sit & relax while we take care of everything.
For the HOT audience, we targeted them with our previous customer’s testimonials, 1-week free-trial, etc.
This made sure that they were followed through in a proper sequence that helped them trust us easily.
Factor #2 – Manual Bidding
This may look weird but that’s correct. We used manual bidding for all of our WARM & HOT campaigns & we saw a significant decrease in CPA up to 20%.
In the beginning, we launched our campaign with automatic bidding & saw which audience is performing the best. Once we figured out the best performing audience, then we shifted to Manual Bidding.
We created a new campaign with 4-5 ad sets with the same winning audience in it but the only difference was the bidding. We switched to manual bidding here & placed a target cost of 20%, 30%, 40%, 50% & 60% of actual CPA in those adsets. This resulted in a decrease in CPA of the leads.
Factor #3 – Non-Converting Customer LLA Exclusions
This is where the trick actually happens.
We saw few users were just opting in for a free offer & didn’t actually go for a subscription. We took their emails(almost 300 from their database), created a custom audience out of it and also created a lookalike 1% of it.
Now, these were the users who were similar to those non-converting users & we excluded it from all our COLD campaigns. This made sure that we were targeting high-intent & converting audiences out of the entire 3-4M users.
We further saw a whooping 30% decrease in the CPA of the leads.
This was the real gold for us.
By just following these 3 simple yet effective steps, we didn’t only slash the CPA by over 70% but also surprised the client with enough customers to make them super happy.
We have been following the same strategy since then & making a lot of customers for all of our lead generation projects.
We are looking forward to seeing you touching new heights of success by using our little secret strategy.