Client Overview: Fairmarkit is an automated sourcing platform that empowers end-users with a data-driven solution that’s actually easy to use.
Fairmarkit’s target customer is a business that wants to use an automated procurement platform to become more efficient with their tail spend while reaping the benefits of competitive sourcing. A lot of these businesses are also often looking to simply learn more about procurement. Our challenge was to present our ads to the information seeking crowd as well as the potential customer differently so we can manage our budgets wisely.
Strategy: Fairmarkit has a variety of ways to capture customer details (e-Book Downloads, Demo Requests, Case Studies) and then nurture potential clients. We worked on creating different theme buckets and then splitting them into various campaigns, targeting different goals.
Google Search + Remarketing on Display Network
Search: Setting up carefully planned theme-based campaigns that utilized various different landing pages. Each campaign’s objective guided its bidding style and budget. While we focused on maximizing our impression share on some campaigns, on others we remain focused on targeting a cost per acquisition. We created several portfolio bid strategies and shared budgets to ensure we maximize our full potential on each campaign. To learn the search behavior in more detail, we set up Broad match campaigns with select few keywords along with a structured Dynamic Search Ads campaign to not only grow the traffic pool but also find out which pages resonate with the target customer.
We utilized Gmail and GDN to re-target our previous website visitors. These campaigns allowed us to nurture potential customers through well-crafted image ads.
Since each goal conversion has a different CPL threshold, we utilized multiple portfolio bidding strategies to generate the desired Cost per Acquisition (CPA)
Performance Results: Since taking over the account, we grew exponentially (+1900% growth) on the most important conversion goal of Demo Requests. During this period, the cost only went up by 120% while average CPCs came down by 30%. Majority of our success also came from Non_Brand searches which highlights the importance of campaign structure and budget management.
Cost per Lead: $690 (Almost 30% lower than the industry average)
Avg. CTR: 2.5%
Avg. CPC: $3.96
We are consistently adding new leads every month without any significant changes to the overall CPA. We have been able to keep our CPA under $650 in all months while making sure our CPCs don’t inflate.