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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. It is one of the most active venture capital firms in the world, which spans more than 75 countries. Notable investments in the 500 portfolio include Credit Karma, Twilio, Canva, Grab, Talkdesk, and Udemy. 500 Startups recently announced the results of the largest corporate venture capital survey based on 100 unique CVC units worldwide and our duty to bring together this report with the people who concerned. We conducted a severe study on increasing the number of people who downloaded the report by giving their basic info, which we called the generated lead, and the results were entirely satisfactory.
CPL DECREASED 600 % WITH CAMPAIGN OPTIMIZATIONS
We Are Expert in e-Commerce Business Growth
CPL Decreased %600 with Campaign Optimizations
Challenges:
The right targeting in e-commerce brings sales. Regardless of which channel we get the best deals, giving more budget and effort to the best campaigns is the most critical factor in increasing sales. We took insights from last year’s metrics for social media. What we learned from the data is, that we should use age groups and create separate communication on men and women gender groups. We should focus on product-oriented campaigns (such as carousels and dynamic). Accordingly, we opened 30+ campaigns and optimized them.
Another challenge is the budget allocation, we can lose a lot if we do not hold the end of the rope tightly because of the incredible competition, and search volume increased instantly near February 14. Campaign budgets were remarkably enough since February 10, but after that, relevant search volumes started to grow incredibly, and we need to reallocate. It was necessary to keep control by controlling the budget and aggressiveness a few times a day, especially in the last days.
The Approach:
We started by identifying the performance criteria we wanted to reach and determined goals. The installation of the Analytics measurement infrastructure was completed after we made sure that the data flow was correct and the number of report downloads was measured. The target audience we wanted to reach was a very niche audience. For this reason, choosing the right advertisement channel and using the correct discourses was very critical. However, LinkedIn seemed to be the right channel for 500startups, it was not preferred because the advertising costs were quite high. So that the search channel was preferred instead of it. The Google Ads account structure was created from scratch, and the strategy was determined. The approach on the Facebook channel, which was considered worthy of trying on the social circuit, didn’t very cost-effective. So that most of the budget was allocated to search ads.
Primarily, DSA, competitor, and brand campaigns were activated, and continuous optimizations were carried out. As the audience is a niche, the relevant users were attracted to the site by using as many keywords as possible. Due to the use of broad matches, often negative studies were performed. Crossly negatived keywords between campaigns, also device-based bid adjustment performed. The game-changing point was the bidding strategy, we pulled the manual CPC to maximize conversion, and a rapid increase in the number of downloads was observed.
Hard work always pays
Results:
Inıtially average CPCs were around $3; it fell to 0.40 cents with several optimizations. 90% of obtained users were new user, and an averagely of 20% of these users who came to the page filled out the form. Overall, CPL decreased from $7 to $5.
CPL decreased below 5$ from 30$
5$
CPC decreased below 4cent from 3$
0,04$
