How BoringBrands.com helped reduce page creation cost for TrepUp by almost 6 times
Challenge: Improve the quality and bring down the per profile cost for business pages on TrepUp.
About the client: TrepUp is a fast-growing networking portal for businesses (B2B marketplaces). It aims at helping businesses grow globally by finding new markets, synergistic partners, and novel ideas.
Brief: The foundation for the TrepUp business network is the individual business pages. These are business profiles that help businesses impress potential markets and discover powerful business connections. The problem for TrepUp was extremely high cost of per page creation and the low quality of leads generated.
Solution: Right from the word go, we knew this problem required unconventional approach. Here was TrepUp, a startup wanting to disrupt business networks, who was looking to reduce their marketing spend and improve lead quality at the same time. That’s why the Performance Marketing team at BoringBrands.com decided to conduct a series of experiments.
Experiment 1 – Ad copy: Our first experiment was tweaking the ad copy and observing how the target audience responded. Pitch after pitch revealed a critical insight: for a B2B marketplace, copy that hovered on the emotional performed poorly. As soon as the messaging was shifted to concrete business benefits and to-the-point copy, the results were encouraging.
Experiment 2 – Ad image: The ad images being used earlier were generic in nature and tried to sell the idea of greatness. Successive iterations indicated that businesses were not able to relate to these as the images were not aligned with their industries. The breakthrough came when we started using industry-specific images, which led to instant attention-grabbing and provided more meaningful leads.
Experiment 3 – Targeting: Targeting insight proved to be the game-changer in TrepUp’s case. Earlier the targeting (for Facebook ads) was the subcontinent, but we realized after some tests that Southeast Asia was better suited. Another shift was to target early adopters and Facebook page admins among businesses.
Experiment 4 – Bidding: TrepUp’s biggest reason for high acquisition costs turned out to be the automatic bidding feature of Facebook. Left to itself, the system was placing bids at prime time, resulting in very high cost per click. So we switched the bidding control to manual, and experimented with the best time of day.
Within less than two months of adopting this strategy, we were able to:
- Bring down the page creation cost to 17% of the original.
- Reduce the cost per click to 30% of the original.
- Drastically improve the quality of pages being created