July 15, 2021
Following the incredible success of last month’s Test of the Month post, I’m excited to announce our Test of the Month winners for June.
As a quick refresher, Test of the Month is an opportunity for Ladder team members to share their innovative, impactful, and clever marketing experiments from the previous month with each other, and with you.
Each marketing tactic will be graded on three criteria:
While we always love seeing positive results, we’ve also seen more than 50% of our tests fail. Therefore, we’re looking for more than just results; Test of the Month is really about recognizing creativity and risk-taking.
With that being said, I’m pleased to announce that our Test of the Month winners are…
Growth Strategist Morgan Schofield created and launched Facebook ads for a Swiss crypto company. Morgan notes that crypto segment audiences have converted well for other crypto clients, so he hypothesized that testing a crypto investor audience would improve the conversion rate for sign-ups and pre-sale form fills for his current client.
Morgan’s goal was to validate this new audience segment, and after a week of testing and ad spend of $298.44 USD, Morgan’s Facebook ads achieved:
With a great CPA and conversion rate, Morgan was able to validate a new audience and creative segment that we can scale and develop an additional strategy for in upcoming tests.
Targeting people who work for companies in the right industry can be a great way to segment your traffic. Be sure to test multiple audiences as performance can be very different depending on how they’re bucketed by the advertising platform. This tactic works particularly well in B2B advertising.
Growth Analyst Filip Pabisek’s growth test focused on optimizing a pricing page for a company that provides a mobile walkie-talkie app for teams and businesses.
After analyzing his client’s current pricing page, Filip noticed that previous landing page didn’t show enough value to potential customers.
“By looking at the business plan and its pricing we came up with a hypothesis that users don’t see a value for paying twice as much for the Business plan than for the Pro version, he said. “The goal is to show benefits and value proposition of the business plan more prominently.”
Here are a few modifications Filip made to the pricing page:
After one week of testing, the new variation had a 2.34% conversion rate, compared to a 1.85% conversion rate for the control variant–a 25.14% increase!
However, Filip notes that it’s still early to make a definitive conclusion, but he aims to continue running this campaign for at least 3 more weeks to get statistically significant results.
By making the option you want people to take the default plan, you can encourage the behavior you want users to exhibit, increasing revenue. Studies have shown that people are less likely to opt-in AND less likely to opt-out, thus “presumed-consent” is a more effective way to direct behavior.
This month’s Test of the Month winner is Growth Analyst Samy Ouedraogo. Samy’s growth test involves testing new keywords for a company that sells a vitamin and supplement dispenser.
Before this test, Samy’s client launched Google Adwords campaigns primarily focusing on keywords related to liquid vitamins and bariatrics (a branch of medicine that focuses on the causes, prevention, and treatment of obesity).
However, Samy hypothesized that adding new keyword ideas based on competitor and keyword research would be a good way to reach new audiences and increase paid traffic.
“After looking through the client’s account history, the female vitamin market was already targeted but not the male one,” Samy notes. “Keywords such as ‘best multivitamin for men’ have between 500 and 20K searches per month and under $3.00 suggested bid. To note that many of the long tail queries also add a specific age (e.g. best multivitamin for men over 50).” Therefore, Samy estimated, AdWords ads with strong headlines should earn at least a 5% CTR.
As a result of Samy’s test, his client was able to secure the top AdWords position against behemoths like Amazon, bodybuilding.com, and CVS.com.
Better yet, Samy’s top two ads had a CTR of about 2.2%. The average CTR for AdWords search ads in the Health and Medical industry is 1.79%, according to Wordstream. This means Samy’s top two ads had a 22.91% higher CTR than the industry average!
If your ads perform poorly with a gender, removing it from your target audience can better optimize your ad spending. Look at your ad’s analytics to determine how it’s performing with each gender and decide if excluding a poorly performing one would positively impact ad performance.
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