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We Reduced Cost of Customer Acquisition by 73% Using Perfect Audience
Posted on March 13th 2014
Almost every established business has some kind of database, regardless of the size, quality or responsiveness of your list; Perfect Audience is ridiculously effective at converting those names and emails addresses into real conversations and sales opportunities.
In this article we will cover exactly what Perfect Audience is, the industries it works most effectively for and how you can generate a better return from your social media advertising investment.
Perfect Audience is a software platform that allows businesses to display their advertising message solely to the members of their own database online.
Businesses upload their database into the software platform, which then displays advertisements within Facebook on the target users newsfeed and also as banner ads on external websites as they surf the net.
Perfect Audience has the reach of the enormous Google Display Network, which has the ability to be placed on around 90% of the most popular websites used by Australian consumers.
Improving ROI on Digital Advertising
We have seen a significant improvement in ROI for both Social Garden and our clients using the Perfect Audience platform, compared to traditional Facebook Advertising or Google re-marketing programmes.
This is largely due to the fact that your database has most likely already been exposed to your brand somewhere along the line, whether by email or the action they took to end up on your list in the first place.
As most marketers know, it can take up to seven ‘touches’ before a consumer feels comfortable enough to make a sales enquiry or respond to a call to action.
Over the past three weeks Perfect Audience has reduced our CPC (cost per click) by 72% while maintaining a steady amount of traffic to our website, landing pages and blog posts.
Who this works best for
Perfect Audience is a particularly effective method for generating qualified leads when the sales cycle is longer than two weeks, or if the product or service price is above $1000.
As mentioned in the paragraph above, it can take up to seven brand ‘touches’ to get a prospect to respond to a call to action, and if the item you’re selling costs 1k+, the consumer can require even more assurance from your marketing messages.
We have found the best verticals for this type of advertising are the property, education and financial services markets. Again, this is largely due to the ‘trust factor’ required to trigger a consumer enquiry for these verticals.
How to Make a Cold Database Warm
In our experience, lead generation campaigns that have not performed well are those whose opt-in is too aggressive for the stage of the buying cycle the consumer is in.
We have found the most effective way to convert your ice cold database into warm leads is to use display advertisement which offer some kind of free content download that your database is going to be interested in.
Here are some examples of content you could offer as a free download:
- How to guide
- Industry pricing guide
- Free DVD
- How to spot a dodgy operator in (insert industry name)
A sure fire way to get warm leads using this method is to have the advertisement lead directly to a landing page where visitors can book an appointment or download a piece of content in exchange for re-entering their details.
I know this may seem unnecessary because you already have their information, but in fact it allows you to ‘lead score’ your database to assist in measuring a prospects interest and buying stage.
How to Convert a Warm (ish) Database into Appointments
If you have a database that has prospects that have actively indicated an interest in your products or services over the past six months, you’re in luck!
The first step is to ensure that you have segmented only the right section of your database to market an aggressive opt-in message to, the last thing you want to do is scare off potential customers with an overzealous call to action.
We have found the path of least resistance in using a landing page to book a free phone consultation, rather than going directly for a sit down appointment.
This phone call gives you the opportunity to sell the value of a face-to-face meet, something that can be a little more difficult to communicate via a landing page.
Generally when we are putting together the advertising copy for a Perfect Audience campaign, our primary goal is not to sell them the end result via the advertisement on their Facebook newsfeed or banner ad, we instead sell them the next step (the click through to the landing page).
Here are some examples of copy which are ‘selling the click’, not ‘selling the end result’.
- Do you know how to save 24% on your next tax bill?
- Find out what makes people click on advertisements
- Do you know which area in Melbourne has the highest value property?
We have saved money and reduced our cost of customer acquisition by mixing up our display advertising strategy, if you run your own advertising internally, I’d highly recommend you do the same.
Have you used Perfect Audience before? Or, perhaps a different platform all together? How was your experience?
Let us know if you have discovered something that might work even better, we are all on this digital journey together to reduce our customer acquisition costs and we love to hear success stories and new ideas that we can share with our community!