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Overview
ON Semiconductor, now rebranded as On Semi, a Fortune 500 company, wanted to decrease their cost-per-conversion while improving and optimizing their targeting to put the right message in front of the right person. They wanted to focus more on design engineers, in hopes of selling their semiconductor parts and pieces to engineers working on electronic projects, ranging from cell phones to autonomous driving vehicles. They turned to Genius Monkey for help in targeting specific audiences, decreasing costs, and optimizing their overall marketing strategy.
The Challenge
The main focus at ON Semi was to not only lower their cost per conversion, but to also target more specific audiences, mainly design engineers in specific geographical regions working on specific projects. Their previous costs ranged from hundreds to thousands of dollars per conversion, even hitting as high as $5,000 per conversion.
ON Semi also had been struggling to break into some foreign markets with their digital marketing efforts due to not having access through the right networks to reach areas in China, for example. Another challenge they had included moving to a multi-touch approach for their target audiences, when previously they had been only placing banners and using a single-touch approach.
ON Semiconductor wanted to focus on these primary goals with their programmatic vendor:
Effective Targeting and Campaigns
Boost Sales and Overall Growth
Reaching New Markets Such as China
Our Solution
Genius Monkey was able to find the right target audience for ON Semi with our programmatic geo-targeting, age targeting, interest targeting, psychographic targeting, and more. Genius Monkey also incorporated split testing into ON Semi’s marketing—running multiple ads to evaluate for best performance and analyzing those results. This led to an increase in driving conversions on their website and overall growth. Through Genius Monkey’s wide variety of publishers and networks they were able to get On Semi into the China market where they had previously struggled. Since then the China market has been one of their most successful digital marketing campaigns yet. ON Semiconductors saw an instant impact in traffic after switching to Genius Monkey, but their most valuable KPI was cost per conversion.
The Results
After working with Genius Monkey on making more efficient use of their advertising spend, ON Semi went from spending $2,000 on a conversion to $8. Two years later, they’re now at under $1 in cost per conversion. That improvement is a constant cycle, as Genius Monkey continues to optimize and make suggestions month after month. ON Semi’s marketing manager said that "I wasn't a believer of banner ads until I found Genius Monkey. They gave me faith back in this form of marketing."
"I wasn’t a believer of banner ads until I found Genius Monkey. They gave me faith back in this form of marketing."
- Brian CritchfieldPrior to Genius Monkey:
- Cost per click average: $2.00+
- Cost per thousand average: $10+
- Cost per conversion average: $2,000+
- Accounted for 0% of ON Semi’s conversions
June 2019 – First month with Genius Monkey:
- Cost per click average: $0.95
- Cost per thousand average: $5.04
- Cost per conversion average: $8.40
- Accounted for 3.73% of ON Semi’s conversions
June 2021 with Genius Monkey:
Cost per click average: $0.41
Cost per thousand average: $2.41
Cost per conversion average: $0.92
Accounted for 23.15% of ON Semi’s conversions
Genius Monkey communicated both digitally and personally with the team, bringing them up-to-date reporting on a daily basis. As their programmatic vendor, Genius Monkey worked closely with ON Semiconductor’s other agencies on strategy and support.
Summary
Utilizing many different publishers and networks to enter new markets while deploying new strategies entailing split testing, hyper-targeted ads, and constant optimization to lower cost per conversion, ON Semiconductor saw immediate success in their digital traffic, customer leads, and brand awareness within their targeted users. They were able to lower their cost per conversion by thousands of dollars using Genius Monkey’s programmatic advice and expertise.