Problem – how do we sell a $30k+ atmospheric water generator?
Solution – read more below.
Scope of Work:
- Email automation setup through Klaviyo.
- Facebook and Google ad account setup.
- Website redesign and migration.
- Facebook ad creative and copy.
- Video ad creation.
- Dashboard tracking all important KPIs.
- Lead magnet creation.
- Analytics install, pixel integration, and goal tracking.
Summary:
Starting anything from scratch is typically going to take more effort, more resources, and be less effective than optimizing existing marketing strategy.
However, with this concept in mind, we wanted to cut the learning curve and get our client off the ground as quickly as possible.
Within two-weeks, thanks to the quick response times from the team at Aquaria, we were able to launch four new lead magnets and start driving leads with all automations setup within just two weeks after signing.
Choosing Target KPI’s:
It can be difficult knowing what #’s to set as goals for target lead costs prior to running paid media.
We suggest starting from a baseline.
- Cold leads = 1%-2% conversion rate (bottom of the funnel)
- Hot leads = up to 10% conversion rate (bottom of the funnel)
Say for example, you’re selling a service that nets you $2,000.
Given the example figures above, your break even point for a cold lead would be $20.
And the break even point for your hot leads (let’s say calendar appointments) would be $200.
Given this logic, we know our absolute ceiling for cold leads will be $20 and anything less than that would churn a profit.
And our absolute ceiling for hot leads would be $200 and anything less than that would churn a profit.
The math checks out.
Just be sure that your net is calculated correctly.
The Results:
The results are looking great so far.
Cold leads driving at $15.49 from our initial lead magnet test.
And both lead magnets being tested are bringing in similar CPL’s, although one has a significant higher CTR.
Our CPMs for this market are HIGH (over $80), and we’re still driving leads under $20 where our goal is $50.
In the end, out the gates, with no previous account data or history and within a two week period we’re driving leads for 69% less than what the target CPL KPIs are.
I’d say that’s pretty nice.