Reducing Cost Per Lead by 95% While Increasing Lead Volume by 400%

Our client is a direct private lender that enables real estate investors to grow with a fluid approach to the asset-backed private money lending industry.

The Challenge

Being a B2B client, they were looking to acquire and find qualified real estate investors through Facebook + Google. Their challenges were consistently reaching their target buyer demographic through these channels and acquiring them as potential customers.

Their Needs

Triumph came to us because they tried running Adwords campaigns internally but were paying more than what the industry standard was per qualified lead. Standard was around $150

Our Approach

We worked with Triumph to first identify their ideal borrower profile – things like their experience, age, wealth, etc. We tested our assumptions and develop pathways to target our ideal borrower profile. 

 

Here’s how we reduced their lead cost by 90% and increased their lead quality.

Google Strategy

MONTH 01

Improved Keywords & Targeting:

Changed Match Types & Removed Non-Converters
Done additional keyword and competitor research to find “low hanging fruit” keywords.

Researched and Applied Negative Keyword Lists:

After reviewing search terms report on the account level, we’ve identified that more than 50% of ALL search terms were irrelevant which caused a huge spike to overall cost-per-lead

Extensive Competitor Research:

Conducted comprehensive competitor research using various methods and tools. Over 90 competitors were thoroughly researched and as a result, we were able to create better ads and our average ad position was 1 or 2.

MONTH 02 & BEYOND

Applied Bid Modifiers for Time of Day & Devices:

One month into the campaign and we’ve had enough data to confidently determine which days, time of day and devices were responsible for most conversions at a lower cost-per-conversion.

Applied Bid Modifiers for Demographics:

Similar to the time of day & device adjustments, we’ve identified ideal age and gender and then applied bid modifiers to the top-performing ones.

Launched a Display Retargeting Campaign:

They were not running a retargeting campaign on Google Ads so this was an easy win. We’ve implemented responsive display ads and regular display ads – responsive outperformed regular display.

KEY RESULTS

Applied Bid Modifiers for the Time of Day & Devices :

One month into the campaign and we’ve had enough data to confidently determine which days, time of day and devices were responsible for most conversions at a lower cost-per-conversion.

Facebook Strategy

MONTH 03 & BEYOND

Improved Keywords & Targeting:

Changed Match Types & Removed Non-Converters
Done additional keyword and competitor research to find “low hanging fruit” keywords.

Researched and Applied Negative Keyword Lists:

After reviewing search terms report on the account level, we’ve identified that more than 50% of ALL search terms were irrelevant which caused a huge spike to overall cost-per-lead

KEY RESULTS

Applied Bid Modifiers for the Time of Day & Devices :

One month into the campaign and we’ve had enough data to confidently determine which days, time of day and devices were responsible for most conversions at a lower cost-per-conversion.

IMPROVING AQUISITION

Provided CRO suggestions to Triumph’s design team:

Even though we were not responsible for building landing pages, we’ve provided a ton of suggestions to their design team and had them implement most of the changes we requested. Tested our vs their original version and ours had better conversion rates.

BEFORE STARTING

$132

Cost/Conversion

Low Lead Volume
Low Lead Quality

AFTER 3 MONTHS

$95

Cost/Conversion

Higher Lead Volume
29% Reduction in CPL

AFTER 6 MONTHS

$8

Cost/Conversion

Significant Lead Volume
91% Reduction
in CPL

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