A Quick Case Study in Audience Targeting
After making a few changes in marketing strategies, a business experienced a 78% drop in users to the site. However, the number of transactions stayed relatively the same. (increased from 19 to 20).
After looking at the data, we noticed a significant reduction in social media ads, and after talking with the client, there was also a reduction in paid search, direct traffic, and a small decrease in referrals.
Now, that doesn’t mean that those channels were not good ways to market this product, but to lose them without any impact on sales means they could use some adjustment.
Paid search, social ads, Facebook and Google are without a doubt the most prominent players for driving traffic. So perhaps the strategy needed to change inside these platforms to encourage the right type of traffic and not just general traffic.
After speaking further with this client, we found they moved a significant percentage of funds into influencer marketing. Nothing against influencer marketing but it was costing the same as the previous channels and didn’t substantially increase transactions.
The same concept applies here as the previous channels in that, with different strategies there could be a more significant impact in cost vs. conversion. To be fair, this was a new brand, and they weren’t well known in the marketplace. If there are many competitors then it’s going to be difficult.
The moral of this story is to make sure that you are making data-driven marketing decisions. Review your data make sure you see what’s working and what’s not based on changes made within your marketing plan.