TL;DR: We tested a lot of stuff, and made a lot of variations, refined the messaged and decreased the CPL from 205€ to 45€.
- Phase 1 CPL: 21st June – 7th July
- Phase 2 CPL: 12th – 24th August
LinkedIn Ads are not as common as Facebook or Instagram, since the Ad Spent can escalate very quickly.
In these 3 months of Ad Spent (June-August 2021) our LinkedIn Ads benchmarks were the following:
- CPC: €2-€0,60
- CPM: €45-€13
- CTR: 7,16%-0,65%
These results are related with the type of campaigns and ads that where chosen to our target audience.
What’s the Initial Strategy?
We have a very simple and unique way of working with each client.
We believe that growth and success can only be achieved if we apply a unique strategy for each business.
Many businesses don’t have the patience to find the niche and the opportunity space.
This takes time, consumes resources and consumes money.
That’s why we use a methodology designed and designed by us: the GHS Growth Process.
Study, Understand and Strategize 📚
GyD is a very particular client, because it works in a very specific niche market, with a reduced target audience.
It operates in a B2B market, in the Hotel sector, only for the Canary Islands.
This can be considered a strength and, at the same time, a major disadvantage.
The strategy defined in Linkedin Ads was designed to try to reach all Buyers and Key Opinion Leaders (KOLs) in this market, sending them a well-structured message.
We defined what would be the best type of campaigns for this offer and chose to test these 3 types of campaigns:
- Lead Generation: Video & Single Image Ads
- Message Ads
- Website Visits: Video & Single Image
The target audience was limited to 4,300 professionals. We realized that here our CTA (Hook) was crucial for us to get good results.
The Hook and the Bait 🎣
During our Growth Process, we always collect the Strengths (Gains) and Pains of Customers (Pains), which helps us to understand the target audience.
What problems do they face.
What solutions are you looking for.
So our message will get across more effectively.
In order to be able to influence KOLs, and entice Buyers, our message was directed to the problems that may arise.
The only problem is that GyD doesn’t have, from a visual point of view, the most appealing content.
First, because they work with very bureaucratic processes, and second, because the team is very technical.
In an initial phase, we tested two aspects: Working the Pains vs the Gains.
We offer a presentation about GyD and how it operates in a different way (content already provided by the client).
The main problem here was that there was no Testimonials, Social Proof, nor the possibility to create Authority. So we anticipated that showcasing GyD’s value proposition would become difficult.
It was decided to test and try with what we had available.
After several experiences, with 35 of the 51 ads created, we were able to reach valuable conclusions:
- Gains worked better:
- CPC: 1,50€ vs 9,33€
- CTR 2,2% vs 0,37%
- Leads: 1 vs 0
- The Hook was not sucessful, our CPL was 205€
- All Ad Creatives needed to be renewed and the message needed to be tuned
Sharpening the Axe 🪓
At this stage, it is crucial to understand that the problem is often not just segmentation, but also content.
And here, it was effectively a content issue.
Part of the Message was appealing.
The creative part not so much.
We went back to Whiteboard, and built from scratch, everything.
A New Ebook: Top 5 Nonconformities
A New Message from Gains
More Appealing New Creatives
The End Result…
-80% CPL !!!!
From 205€ per Lead 😰 to 45€ 🤓
Written and said like that, it sounds simple and effective.
But it’s been months of work.
Lots of time thinking and structuring content.
And above all, teamwork.
Next Steps 👣
Now that things are fine-tuned, we’re back to our Funnel.
We hope to start phase 2.
And the Growth Process will not stop here.
That’s the only way we can succeed!
Thank you for trusting us and being by our side on this journey.
Because together we all grow faster!