How We Helped A B2B SaaS Reduce Average CPA By 50%
Mobile Text Alerts
Company Background:
The business helps businesses and organizations grow their revenue and streamline their communication through our mass text messaging service as a means to reach a larger customer base with a much higher open rate that comes with SMS.
Over 20,000 businesses and organizations use Mobile Text Alerts with the software tailored for business owners, directors, leaders, pastors, consultants, coordinators, and everyone in between.
Problem Statement:
The primary problem statement the business had was:
(1) They offered free trials to prospects as a lead magnet for their tool. Their current CPA (cost per acquisition = cost per free trial) was unsustainable, and they wanted to reduce these numbers.
(2) The business was also facing issues with some Key metrics of their ads.
- Historical CTR of 1%
- Historic account Frequency at a high 4.5+
- 20%-30% Bounce Rate
- Checkout Rate Dropped from 37% to 7.4%.
- Low Trial Rate of 7%-9%
- Reduction in Purchase Rate from 0.8% to 0.4%
Methodology:
- AUDIT OF THE ACCOUNT to draw out insights specific to the account level, campaign level, ad set level and ad level
- BREAKING DOWN PROBLEMS INTO ACTION STEPS
- FIXING ACCOUNT INEFFICIENCIES
The reduction in Cost per Trial was a function of the following two changes we worked on:
- Cutting down on wasteful spends in the account that were driving costs up without ROIs
- Our data analysis showed us opportunities to optimally distribute budget across various assets, based on their performance. The account’s budget allocation was sub-optimal, thereby reducing the overall ROI.
Key Metrics:
- 50% reduction in the Average CPA
Results Generated:
- CPA REDUCTION
We helped the business reduce their average CPA by 50% within 3 months
- BUDGET OPTIMIZATION
Teal Box’s detailed audit of the entire business account revealed opportunities for budget optimization which helped us optimize key metrics with the end goal of bringing down the CPA
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