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 challenge was to create an audience that would generate leads from small 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 4 MONTHS The team researched audiences on Facebook and Instagram, targeting small business owners and testing different optimization combinations to increase leads and lower CPL. Remarketing and lookalike audiences boosted leads and further decreased CPL, resulting in 86 leads at a CPL of only $5.26. Continuous AB testing showed static creatives outperformed videos, leading to a shift to the former, which proved 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
By the end of April, the campaign generated 66 leads at a cost per lead of $5.64. Come mid-May, the campaign saw a decrease in CPL, generating 20 leads at a cost per lead of only $4.00. This represented a CPL decrease of 29% in less than a month's period.
Outcome
The campaign successfully generated a total of 86 leads at a final CPL of $5.26.