This home lending company invested heavily in paid Facebook ads but wanted to figure out how best to convert qualified customers at the same rate while trimming down wasted spend. Crunchy Links took a look at their campaigns to identify how to get rid of wasted spend while optimizing ads and landing pages to maximize their ROI and drive net new customers.
Reduction in adspend required
*We totally made up this strategic name. It doesn’t actually exist. But we’re happy to do this same thing for your company!
Drilling down into the data was critical for unearthing under-performing trends. In this case, we looked back beyond 2 years of Paid Facebook data to find trends and wasted spend. We then focused on recent data to understand the current state of their campaigns and if these trends were still present.
First, we focused our research on the previous 4 months of ad history, looked at bid strategy and demographic targeting, then expanded to CTA’s, ads, and landing page quality to remove the under-performing overburden to discover the hidden conversion gold. We then implemented new ads and changes to existing landing pages based on our research of that data.
One of the main KPIs we focused on was targeted demographics and allocated spend. From there, we were able to identify the specific segments under-performing and wasting budget. By focusing on demographic targeting (and reallocating budget to higher converting targets) we were able to improve the conversion rate and ROAS (return on ad spend). Afterward, we focused on the calls to action (CTA’s) that performed best, and implemented more engaging content, which performed exponentially better than previous ads, improving the overall quality and relevancy, and subsequently the conversion rates of the ads.