Our client Xero, a global cloud-based accounting software, recently launched a marketing campaign with the goal of attracting new customers from their primary competitor. The client had previously run lead-generation campaigns for this offer but weren’t able to attain the cost-efficient leads needed to make the campaigns sustainable and scalable.
Decrease cost per lead (CPL) on Facebook to convert users from Direct Competitors to Xero in Q4 2016.
We used an always-on testing structure to place Lead Generation ad units in-market in a competitive social market during the US holiday season. We split-test 30 creative variations against 10 audiences to optimize in real time.
Our audiences were narrowed interest-based targets along with recent site viewers and 1% affinity lookalikes of our current customer. We split audiences into mutually-esclusive cohorts for auto-optimization for the lowest CPL.
Split tests, machine learning, and leveraging an under-utilized Facebook offering allowed us to achieve success well over predictions:
Growth Over Lead Goal
Decrease in Facebook Lead Costs
- Retargeting site traffic was a success: We were able to capitalize on current site traffic by targeting users who had been on the specific owned pages in the last 180 days, but were not current customers. This assisted in the overall CPL reduction and a lift in brand awareness.
- Continuous optimization was key: By optimizing audience budgets, ads, and audiences daily, we were able to lower the cost-per-lead by 33%, from day 1 of the campaign through to the final week.
- CRM integration delivered immediate results: By integrating Facebook-generated leads with SalesForce we were able to immediately take action against new customers.