How could Payoff lower their cost of customer acquisition while significantly increasing their sales volumes? Payoff wanted to:
- Identify target audiences and lower the cost of customer acquisition as quickly as possible.
- Determine the ideal paid channels to advertise on. (Facebook, Twitter, Pinterest, Programmatic Display, and Native Content).
- Build brand awareness and acquire customers within market segmentation.
- Implement and efficiently scale advertising campaigns for testing numerous variables and handling millions of advertisements over multiple formats.
Before launching a multi-channel ad campaign, Social Fulcrum ran a targeted Facebook ad campaign which evaluated tens of thousands of different combinations of images, copy, and audience targeting. This Facebook campaign not only served as a learning platform for other channels but also as an acquisition machine, cost-effectively targeting tens of millions of people.
- Cost per Customer Acquisition was lowered by 90% over 5 months despite a 15X increase in media spend levels
- Social Fulcrum Ads were responsible for driving ~80% of all Payoff customers
- This ultimately helped Payoff raise a $250M round of funding.
Reduction in COCA
We reduced the cost of customer acquisition by 90% in 5 months.