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To generate leads from the customers who are actively seeking business loans.
3 Months (12th August to 15th November)
Increase the number of leads and lower down cost per lead Many competitors and top banks provide the same services and are in the market for years and running ads, so competition is very high.
Our strategy was divided into phases in which we have tested different combinations of targeting to increase leads and lower down CPA.
In the first phase, we were running ads on targeting 1. We have targeted Small business administration, which further narrowed down by applying and condition with interest loan, which has produced 84 leads at a CPA of $8.51
In the second phase of the targeting experiment, we have broadened the targeting to expand reach by removing and conditioning interest from the targeting, which has given us excellent results by producing 152 leads at a CPA of $5.42.
In the third phase further, we have tried to expand targeting by adding more interest “Credit limit or Bookkeeping“ in our condition to broaden ads reach, which has produced 142 leads with a CPA of $6.22.
We should always try to test ads by expanding targeting if the narrow-down approach is not working because a broader audience pool gives the algorithm enough data to decide where to serve ads and generate ROI.
We have got 378 leads at a CPR of $6.41.