The initial situation
The client is a renowned financial services provider whose previous agency based its billings solely on the volume of media services purchased. By comparison, big
mouthmedia offered the client an option where remuneration is based on a specific objective CPL (Cost Per Lead) value.
The aim
- Acquisition of potential customer contacts that are inclined to purchase the client's investment products online. Any purchase of additional or other products would be a welcome associated benefit.
- Receipt of 50,000 online applications a year and a 25-percent reduction in CPL.
The approach
- The first phase concentrated on search engine placements and the financial services platform. Additional websites that were appropriate to the target group were also identified and tested to the maximum extent. In order to effectively implement these measures the test budget was doubled.
- Phase Two focused on optimisation: the fine-tuning of the campaign. We shifted our focus to the best performing sites by eliminating those websites that returned below-average performance. Sites that had a high affinity with the potential target group were continually tested and added if successful results were achieved. The selection of effective advertising media became more important at this stage.
The results
- Phase One saw over two-and-a-half times the number of visits to the site with a corresponding 24% increase in the conversion rate - the proportion of website visitors who actually submit an order. At the same time, the CPL value dropped by 8%, and by 22% relative to the development of the total market price.
- While a focus on top-performing sites (and an elimination of less effective ones) resulted in a slight decrease of the absolute number of generated addresses compared to phase one (while still being much higher than the original figure), there was a significant increase in effectiveness and efficiency. Strategic co-operations reinforced that efficiency increase.
- The conversion rate also continued to increase in Phase Two, rising by more than 35%. Although there was a slight increase in the absolute CPL value in Phase Two, there was a strong decrease relative to overall market price. Thus, at the end of Phase Two, the price was at index 73 versus the initial level.
- Far more than the target of 50,000 contract applications was achieved. Thanks to bigmouthmedia's ability to identify the right approach at concept stages and to precisely implement the strategy, the results exceeded the objectives.
