Reach Stretch Studios contacted Reverb looking to create a grand opening strategy to gather interested, local leads for each of their new locations — leads gathered would set each location up for success from opening day onwards.
We were able to create a cost efficient grand opening campaign by segmenting target customers into 5 groups and performing A/B tests on a variety of content and ad copy to capture leads. Using the results from our testing, we narrowed down the best performing groups and content to run ads for a franchise location.
Out of the 5 segments tested, we ascertained that Pregnancy Support and Therapeutic audiences were most responsive online to photo carousels. As a result, we shifted ad spend for new locations to these groups, lowering cost per opted-in lead for franchisees from $3.44 to $1.38.
- Increase the number of leads for client.
- Build awareness for upcoming store location openings
- Determining target audiences for the ads
Results from Month 1
Segmenting your audience is important to determine how to best allocate your ad spend. In this example, we created 5 audience segments for the client based on the target audience they wanted to attract. From the results, we see that the Pregnancy Support and Therapeutic audiences performed best in comparison to the other segments.
The cost per lead for each segment is as follows:
- Pregnancy Support: $2.29
- Therapeutic: $2.50
- Healthy Lifestyle: $4.12
- Active Seniors: $5.83
- Youth to Pro: $6.10
The average conversion rate for leads from Facebook ads is between $3.50 – $4.50 per lead.