70% Conversion Goal in 4 Months
70% Conversion Goal in 4 Months
Quick flashback
Founded in the late ’90s, our client’s advisory CPA Firm headquartered in Illinois had to deal with some tough challenges in the last few years, to drive new leads to their business in form of calls, lead forms, and applications.
Traditionally, Google AdWords has always been a reliable source of profitable accounting leads for our clients. However, recent changes to the dynamics of the accounting industry and intensifying rivalry with many new entrants in the market created a whirl of challenges.
Realizing that their existing model of using Google AdWords to fuel business growth would not be sustainable forever. So, the executive team at our client’s CPA Firm decided to reach out to us back in 2018 with bigger goals.
They not only wanted to reach out to the masses and engage researchers interested in tax, audit, and wealth management services but also wanted to have a robust marketing copy that would help them:
1. Target both the segments of the market (individuals and companies) at the same time, and
2. Generate high-converting leads under $100 CPL by the start of the next quarter.
2. Generate high-converting leads under $100 CPL by the start of the next quarter.
Leveraging paid Facebook advertising
We knew we had a tight deadline to work with, so it was important for us to make every dollar count for our client. With a total ad spend of $4,359; we were able to generate $47,595 in revenue, collect 501 highly qualified leads and achieve a 74% conversion rate!
The numbers we were able to achieve were impressive, to say the least.
Our ads hit the lowest cost per lead (CPL) of $8.70 and not just that, we managed to reach out to 28,000+ potential prospects across the US for our client’s firm.
How did we make the magic happen?
Keep reading as we are about to map out where we ran the ads, what challenges did we overcome, and what had the biggest impact on the success of the campaign.
The Challenge
- New competition in the market brought a big deficit for our client. Relying heavily on Google AdWords for new business, Facebook Advertising was a new arena for our client to explore.
- As the client had no prior experience of running Facebook ads, we had to connect the right dots for him that would level up his business game.
- We had to work on the creatives and assets from scratch and had little to no time to experiment and find the winning elements.
- The client needed high-quality leads (form submissions) with a high conversion potential under $100 CPL.
The Process
To begin addressing the challenges, we audited our client’s account to find opportunities. We discovered three main areas we need to focus on:
1. Campaign Budget Optimization
2. Ad Copy Testing
3. Embedding landing page with clear CTA’s
2. Ad Copy Testing
3. Embedding landing page with clear CTA’s
- To design better-performing ads it was important to develop buyer personas and identify the type of audience response we would get from different locations. So, we started our process by collecting as much information as possible about their ideal customers and how their target audiences have interacted with their content.
- With the data we collected, we created few high-quality audiences sets on Facebook, including lookalike audiences to test our creatives against and market the discount offers.
- Our visual geniuses and copy wizards created engaging assets and creatives (including static images, GIFs, and videos) to use for both TOF and BOF, retargeting ad campaigns we were to run for the client.
- Based on our understanding of the client’s business and industry, we defined measurable KPIs for a medical spa.
- We set up 5 ad sets and tested our target audiences in each ad set using 10 different creatives and 5 ad copies. Which had the biggest impact on the success of our campaign.
- We worked with an initial budget of $50/day and gradually increased it to $90/day for scaling campaigns (Facebook recommends a 10-20% gradual increase in the budget so that the Algorithm doesn’t get confused) This also helped us lower the cost per conversion.
The Results
- We helped our client reach out to 28,210 potential prospects across his target locations with the help of our 3 winning ad sets.
- We ensured our ad copy not only spoke about the client’s products and benefits but was also tailored to each set of keywords in a way that would attract searchers to click our ad over competitors.
- With the total ad spend of $4,359, we brought $47,595 in revenue for our client.
- Our 8 creatives and 4 ad copies collected 501 high-converting leads (form submissions) for the client.
- Our TOF campaign hit the lowest CPL of $8.70 for our client with the desired 74% conversion rate.
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