A Costly Marketing Strategy
VBHC’s internal marketing team decided that digitally reaching out to their target audience; urban home buyers, would be a best practice.
To get leads, the team invested a lot of money in AdWords. They added more than 14,000 keywords and created around 36,000 ads! However, despite pumping in a considerable amount of money, the company was finding it difficult to generate genuine sales-qualified leads.
When VBHC realized that they were quickly exhausting the budget without a good outcome, they decided to hand the campaign to our team. Given that we have digital marketing expertise and a proven capability of optimizing campaign ROI.
That’s When Fractional CMO Came Into Picture
First, we audited the entire campaign and quickly realized the company had invested in irrelevant keywords and ad placement. From there, we planned a two-phase solution to streamline it.
- In the first phase, we identified the irrelevant keywords and removed them from the campaign. We started afresh with a new set of relevant keywords and placements.
- In the second phase, we added new campaigns and channels to reach the ideal buyers on the right platform.
A Two-pronged Approach To Reach The Target Buyers
To ensure that the sales team focuses on the leads that are likely to convert, we developed a two-pronged approach to reach the target buyers and generate qualified leads.
AdWords: The first approach was, of course, to clean up the existing campaign and select only the relevant keywords and placement that we knew would bring genuine leads.
Fractional CMO worked with VBHC to help them increase the number of qualified leads and reduce the Cost Per Lead (CPL).
Facebook Advertising: The second approach was to use Facebook Advertising. The client was initially skeptical about the role of Facebook Advertising in generating leads. However, they later agreed to give it a try when we explained the advantage of using it. With over 2.23 billion active users across the world, Facebook was our first choice to reach the right target users. The good part about Facebook advertising is it offers marketers several tools to reach out to the right audience. We used three options to reach out to them - Location-based targeting, Re-marketing ads, and customized lead ads. You can read about the full strategy here.
Our two-pronged marketing approach helped VBHC:
- Increase leads by 300%
- Reduce CPL by 150%
- Generate 8,440 leads, out of which 2,400 were sales qualified
- Generate 1,300+ leads from Facebook Advertising