Case Study
Maximizing Your Financial Potential: Generate More Leads at a Lower Cost
Our client specializes in providing the best mortgage and financing solutions to companies, including merchant cash advances and business loans, to support their growth and success.
Our client was facing challenges in generating a high number of leads while keeping the cost per lead low. Competing with top banks who offer similar services and have more market experience, the client was struggling to effectively run ads and attract potential customers.
The primary objective was to generate leads from customers who were actively seeking business loans.
A budget of $1000 was allocated for advertising in the United States.
Strategy:
To address the challenges, we divided the strategy into three phases to test different targeting combinations that could improve lead generation and reduce the cost per acquisition (CPA).
Phase 1 involved running ads targeting the small business administration, which was further narrowed down by applying interest loan conditions. This produced 84 leads at a CPA of $8.51.
In Phase 2, we experimented with broader targeting to expand our reach by removing interest conditions from the targeting. This approach produced excellent results, generating 152 leads at a CPA of $5.42.
Finally, in Phase 3, we expanded the targeting by adding more interests such as “Credit limit or Bookkeeping” to our conditions, broadening the reach of the ads. This resulted in 142 leads with a CPA of $6.22.
Overall, our targeted approach helped our client to generate a significant number of leads while keeping the cost per acquisition within the allocated budget.
Different targeting set is given below:
Targeting 1
Targeting 2
People who match:
Interests: Small Business Administration
Targeting 3
People who match:
Interests: Small Business Administration, Credit limit or Bookkeeping
Solutions:
We successfully addressed the issue by implementing a solution to test ads through an expanded targeting approach if the narrow approach did not work. The broader audience pool provided the algorithm with enough data to decide where to serve ads and generate ROI.
Now, let’s look into the statistical details.
| Months | Number of Leads | Cost Per Lead |
|---|---|---|
| Month 1 (12th August to 12th Sept) | 84 | $8.51 |
| Month 2 (13th Sept to 13th Oct) | 152 | $5.42 |
| Month 3 (14th Oct to 15th Nov) | 142 | $6.22 |
Key Metrics:
| Key Metrics | Performance |
|---|---|
| Reach | 17079 |
| Impression | 45555 |
| Leads | 378 |
| Cost per results | $6.41 |
| Amount Spent | $2422.81 |
| Link Clicks | 800 |
| CPM | $53.18 |
| CPC | $0.59 |
| CTR | 5.62% |
Best Performing ads
Achieving successful results is vital for any business, and we are proud to say that we have delivered exceptional outcomes.
With a total of 378 leads acquired at a cost per lead of only $6.41.
We have managed to surpass our own expectations. Our continuous efforts in lead generation have resulted in a steady increase in leads month on month, while simultaneously reducing our cost per lead.