Client Success: Growing Revenue While Reducing Cost-per-Sale for a Financial Software Company
Digital advertising makes it easier than ever to connect with niche audiences. But the value of these ad campaigns is dependent on your ability to optimize targeting and spending to minimize the cost of each customer acquisition.
The more efficiently your business can spend its ad budget, the farther your ad dollars will stretch—which leads to a higher number of generated leads, and, ultimately, more customers to grow your business. This is true for any business, but companies serving a niche audience have less margin for error when making sure campaigns connect with top prospects and generate ROI.
For one financial analysis software company, a DIY attempt to reach this select audience didn’t generate the kind of return the company was anticipating. After a paid search and display campaign on Google generated click-thru referrals, but failed to deliver leads, the company realized there were gaps in their audience engagement strategy.
After these poor advertising results, the company turned to Cox Media for help.
While the financial analysis software company sought a better outcome than it had earned through its own digital campaigns, its paid search and display shortcomings prompted the client to emphasize lead generation as one of its top advertising KPIs.
The client was particularly interested in making sure referred website traffic was leading to further engagement and lead generation. The company and Cox Media believed that more engaged referred traffic would be a stronger indicator that audiences were correctly defined and targeted. Meanwhile, more post-click engagement with the website, including lead-gen form submissions, would create a higher volume of sales opportunities to convert ad spend into revenue generation.
The company was also seeking an approach to digital advertising that would better track audience engagement to generate insights that could refine and optimize its advertising strategy going forward.
With the clients’ goals and past campaign struggles in mind, Cox Media’s experts recommended a digital ad strategy that took the client’s unsuccessful paid search and display campaign and optimized it for better results. Cox Media also ran a separate campaign built around branded keywords, and demonstrated how this alternative approach could dramatically lower the potential cost-per-conversion for the client.
To enhance audience engagement, Cox Media implemented ad extensions and customized Google Analytics to properly track and analyze user website behaviors. This tracking delivered new insights into the campaign’s performance, including more accurate revenue tracking. This new approach to branded keyword targeting and ad performance tracking, combined with Cox Media’s proprietary ad technology and ongoing optimization plan, laid out an actionable strategy for boosting ad revenue and ROI.
Over the first two months of the campaign’s run, the financial analysis software company reported the following results:
- A 20 percent decrease in cost-per-sale after the first month;
- A 68 percent decrease in cost-per-sale after the second month, resulting in a total cost reduction of 75 percent;
- A 22 percent increase in revenue generation;
- Enhanced analytics and insights to optimize for greater ROI in the future.
Thanks to our success in reducing customer acquisition costs and increasing revenue generation from ads, the client has continued its partnership with Cox Media, leveraging digital advertising to grow its profit margins and its client base.
No matter the size or shape of the audience you serve, Cox Media can help your business connect with potential customers and increase the ROI of your ad campaigns. Contact us today to learn more.
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