Subscription-Based B2B Program Boosts Conversion Rates
Genius Monkey recently conducted a test for a business-to-business (B2B) e-commerce site that offers a subscription-based online program. The goal of this company was to increase the number of trial submissions. They had previously been utilizing a common programmatic ad network that worked on a CPM model, with little evidence as to the true hard conversions that lead to revenue.
The goal was to drive high-quality online conversions (trial submissions) through targeted programmatic display ads under the $150 target cost-per-acquisition (CPA) goal.
Genius Monkey's strategy was to utilize targeted banner, social and native ad placements that specifically targeted (just to name a few):
- Small business owners
- Educational institutions
- Nonprofit organizations
- Marketing professionals holding specific job titles within medium-sized businesses
- Audiences who have visited competitors' websites
- Contextual keyword targeting for specific terms and phrases
- And more
Because of the branding nature of Genius Monkey's programmatic platform, the members of the marketing team set out to provide data and insight into the full value associated with such an effective campaign. Genius Monkey's Attribution Tracking allows clients to see more detail into what is occurring with the targeted audience, tying conversions on the website all the way back to the highly-targeted impressions.
During the test campaign, the client witnessed the following impact period-over-previous period:
- 9.72% increase in sessions
- 11.75% increase in users
- 7.80% increase in new sessions
Over the course of the two weeks following the completion of the test, Genius Monkey's ability to provide a continuing impact and significance with their Attribution Tracking became evident, revealing that there was a 276% increase in additional trial submissions (conversions) vs. during the run period. In addition, nearly 90% of Genius Monkey's total contribution was not measured in a "last interaction" attribution model. Lastly, Genius Monkey's CPA, as measured by the client, was astoundingly 66% lower than the target CPA.
Further examination revealed that the typical measurements achieved by Genius Monkey far exceeded expectations, based on previous campaigns executed by their former programmatic partner. This was evidenced by a 58¢ CPC, a $2.07 effective CPM and a 0.35% CTR.
As a result of the success of the trial run, this B2B e-commerce client continues to partner with Genius Monkey, and is now looking more closely at View-Through Conversion Tracking with all of their partners.