The client
The client is known for crafting top-tier alternative financing solutions for those who don't meet traditional bank loan requirements. Their goal was to penetrate the SME and entrepreneurship market and convert them into loyal customers.
The challenge
The primary challenge was to establish a dedicated audience of entrepreneurs and businessmen capable of driving solid leads. With a focus on attracting SME owners and startup CEO's, the client sought to promote their alternative financing solutions effectively.
What we were asked to do
The primary goal was to create an audience that would generate leads from startups, small-medium business owners and entrepreneurs. The client's objective was to ensure that these leads become long-term, loyal clients that will make up their main customer base for retargeting and lookalike purposes as well.
What we did
THE CAMPAIGN RAN FOR 3 MONTHS The team researched audiences on Facebook and Instagram, targeting SMBs who have shown high interest in lending and all topics related to the matter. Remarketing and lookalike audiences boosted leads, resulting in a total of 124 leads at a CPL of $20.05 Continuous AB testing showed static creatives outperformed videos, leading to a shift to the former; proving to be highly effective.
What worked in the creative
The best-performing ads were static image ads with carefully researched targeting. Remarketing and lookalike audiences were applied, leading to optimized creative performance.
Results
On the first month of the campaign, we were able to generate 31 leads at a cost per lead of $25.11 By the end of the 3rd month, the campaign saw a significant increase, generating 60 leads at a cost per lead of $15.27. This represents a remarkable lead increase of 94% and a 39.19% decrease in CPL over a three-month period.
Outcome
The campaign successfully generated a total of 124 leads at a final CPL of $20.05