Optimizing Cost Per Conversion | Skylab Studio Case Study
Cost Per Conversion is one of the most relevant metrics in marketing. Also known as Cost Per Action (CPA), Cost Per Conversion shows how much money obtaining a real customer who will make a successful conversion actually costs. A conversion could be signing up for something, making a purchase, or watching a video. Consequently, the definition of a conversion depends on the campaign objectives. Moreover, Cost Per Conversion is a measure of how effective an ad is in achieving campaign goals.
Optimizing Cost Per Conversion is essential for businesses. This sounds reasonable as businesses always look to cut unnecessary expenses.
Skylab Studio is an aerial dance studio in Camden, London. They aim to deliver high quality aerial training in hoop and silks as well as fitness and flexibility classes for beginner to advanced levels. With over 10+ teachers, all of whom are highly skilled aerialists which have a passion to share their knowledge.
In today’s case study on optimizing Cost Per Conversion, Skylab Dance Studio joins hands with The Good Marketer to achieve remarkable CPCon. Let’s get into it.
PROBLEM
As a growing business, Skylab Studio were reliant on organic channels to sell their courses and drive people to their taster sessions however, this channel was unreliable and left the business hanging in the balance each month.
During the initial in-depth analysis, The Good Marketer identified three key challenges:
- Lack of Course Sales
- Use of Paid Advertising
- Brand Awareness of the Activity & Benefits
SOLUTION
Skylab Studio were keen to work with an agency who not only could deliver the results they were looking for but also, an agency which understood their business and would become invested in their vision. The Good Marketer were appointed due to their personal approach which meant that Skylab Studio didn't feel like another number on a spreadsheet.
To address the challenges identified, The Good Marketer held a research and planning meeting with the Founder of Skylab who was able to share with them her thoughts on the issues which then made it possible to put together a comprehensive plan of action.
As part of this plan of action, they suggested a Facebook Advertising Campaign targeting Females aged 18-38 (based on existing customers) to drive Sign-Ups to the Taster Sessions which would not only drive brand awareness of Aerial as an exercise and it's benefits but the attendees of these Taster Sessions could then be up-sold too.
Subsequently, the team also identified a separate target audience which was those who were already aware of Aerial and it's many benefits but were looking for a place where they could practice and learn more therefore, they setup a Google Ads Campaign targeting popular keywords.
RESULT
Skylab Studio and The Good Marketer were able to achieve these remarkable results:
- Acquired Leads for a Cost of Only £1.19
- Achieved an Average Conversion Rate of 14.9%
- Assisted With Implementing a Lead Nurturing Funnel
- Delivered An Average Email Open Rate of 66.2%
- Reduced Wasted Spend across Various Facebook Advertising/Google Ads Campaigns
- Implemented a Remarketing Campaign to Taster Session Attendees to drive Course Sign Ups
- Worked closely with the Founder of the business in the development of the Marketing Campaign
